Trump on TPP; Bank earnings; Volkswagen shakeup

1. TPP rethink: President Donald Trump has asked his advisers to investigate whether the United Stat...

Posted: Apr 13, 2018 11:29 AM
Updated: Apr 13, 2018 11:29 AM

1. TPP rethink: President Donald Trump has asked his advisers to investigate whether the United States should rejoin the Trans-Pacific Partnership, the giant trade deal spanning 11 countries that he ditched just days after taking office.

In a meeting Thursday, Trump asked his team to investigate "whether or not a better deal could be negotiated," the White House said.

Rejoining would be tricky -- experts say Trump's negotiating position is weaker now that the other 11 countries have moved on without the United States.

2. Big banks report: It's a big day for bank earnings.

JP Morgan, Wells Fargo, Citigroup and PNC are all slated to release their latest results before the bell.

Financial shares have rallied in anticipation of a strong earnings season, with Citigroup, Bank of America and Goldman Sachs closing nearly 3% higher on Thursday.

Investors will be looking for clues from the big banks about what they expect for the rest of 2018. More banks are scheduled to report next week.

3. Volkswagen shakeup: Shares in Volkswagen opened 1.3% higher after the company announced that CEO Matthias Mueller would be replaced by Herbert Diess.

The automaker is expected to say more about surprise management change at a press conference.

Volkswagen is the biggest auto manufacturer in the world by sales, delivering a record 10.7 million cars in 2017.

4. Global market overview: US stock futures were flat.

European markets opened mixed. UK stocks were lower, while markets in Germany and France advanced.

China markets posted losses, while stocks in Japan and Korea gained.

The Dow Jones industrial average closed 1.2% higher on Thursday. The S&P 500 gained 0.8% and the Nasdaq jumped 1%.

Oil futures jumped almost 1% after the International Energy Agency said a global oil glut is close to disappearing. OPEC and its allies had been working to reduce the surplus.

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5. Companies and economics: The US Department of Labor will release survey data on the jobs market at 10:00 a.m. ET on Friday.

A preliminary reading of the University of Michigan's index of consumer sentiment for April will be released at the same time.

China released its latest foreign trade data on Friday, revealing a small dip in exports. Economists said the decline is likely to be temporary.

London Stock Exchange Group appointed former Goldman Sachs banker David Schwimmer as its new chief executive officer.

The announcement marked the end of months-long boardroom battle that saw several high profile departures.

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6. Coming this week:
Friday -
Citi, JPMorgan, PNC, Wells Fargo earnings

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 1490496

Reported Deaths: 20500
CountyCasesDeaths
Marion2039162521
Lake1001941500
Allen923541011
Hamilton72207547
St. Joseph64053755
Elkhart48903625
Vanderburgh47506523
Tippecanoe43182336
Johnson37906521
Hendricks35984459
Porter34277466
Madison28722537
Clark25552325
Vigo25251344
LaPorte23269307
Monroe22751244
Howard21818377
Delaware21391366
Hancock18487220
Bartholomew17860213
Kosciusko17769201
Warrick16642213
Wayne16062300
Floyd15640257
Grant15143296
Morgan14245231
Boone13388136
Noble11656140
Dearborn11560112
Henry11546201
Shelby11483150
Marshall11258167
Dubois11123152
Jackson10425104
Cass10121142
DeKalb10101129
Lawrence10082220
Huntington10016139
Gibson9415125
Montgomery9153141
Knox8942124
Harrison8874112
Whitley861871
Steuben8488104
Jasper8192114
Clinton810295
Putnam806199
Miami8032133
Jefferson7773124
Wabash7726139
Ripley7118112
Adams6595101
Daviess6455127
Scott638586
White613282
Greene5999112
Clay597573
Wells5902120
Decatur5885119
Jennings586278
Fayette5735121
Posey543448
LaGrange524197
Randolph5027129
Washington494368
Owen491499
Fountain472479
Spencer446556
Starke438686
Sullivan437465
Fulton431891
Orange420882
Jay409764
Rush403937
Carroll377549
Perry376755
Franklin375850
Vermillion352062
Parke319238
Pike316245
Tipton313774
Blackford271755
Pulaski270874
Newton231561
Brown226754
Benton215721
Crawford215131
Switzerland194214
Martin186722
Warren174821
Union165519
Ohio122616
Unassigned0739

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 2439205

Reported Deaths: 31245
CountyCasesDeaths
Franklin2637212065
Cuyahoga2582743018
Hamilton1696091714
Montgomery1126771604
Summit1074271391
Lucas909371160
Butler80397942
Stark754911400
Lorain63313792
Warren51040475
Mahoning50162915
Lake47051605
Clermont44631429
Delaware39611212
Trumbull38910755
Medina37850419
Licking37593408
Fairfield34482334
Greene32823422
Portage31698360
Clark30769445
Richland28751423
Wood28217297
Allen24942395
Miami23274395
Muskingum22683245
Columbiana22370403
Wayne21565356
Tuscarawas19096427
Erie18282222
Ashtabula18102342
Marion17861232
Scioto17031207
Ross16556252
Pickaway15812178
Hancock15561228
Geauga15320223
Lawrence14172186
Union1359984
Huron13584182
Belmont13554247
Jefferson13090258
Sandusky12933199
Athens12126106
Knox11721198
Seneca11631200
Darke10950198
Ashland10916178
Washington10729168
Auglaize10364142
Crawford10062175
Shelby9961157
Brown9610140
Fulton9453150
Guernsey9304117
Highland9215148
Defiance9209135
Logan9114142
Clinton8950127
Mercer8816111
Madison8730106
Preble8145162
Williams8014135
Putnam7863135
Ottawa7752121
Champaign7696112
Jackson7510117
Perry725998
Coshocton7137136
Morrow706382
Fayette678287
Pike632586
Hardin6311128
Gallia605891
Adams5913124
Van Wert5877121
Henry577093
Hocking5634104
Carroll4877100
Wyandot487590
Holmes4787161
Paulding409064
Meigs380473
Monroe303368
Noble285051
Harrison284461
Morgan280348
Vinton245145
Unassigned08
Fort Wayne
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Hi: 22° Lo: 13°
Feels Like: 16°
Angola
Mostly Cloudy
15° wxIcon
Hi: 20° Lo: 11°
Feels Like: 15°
Huntington
Mostly Cloudy
12° wxIcon
Hi: 22° Lo: 13°
Feels Like: 12°
Decatur
Partly Cloudy
16° wxIcon
Hi: 23° Lo: 14°
Feels Like: 16°
Van Wert
Partly Cloudy
14° wxIcon
Hi: 22° Lo: 14°
Feels Like: 14°
The colder air is expected to linger into the weekend and there is a small chance of light snow.
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