US futures are in the green after Commerce Secretary Howard Lutnick hinted at tariffs relief. This after a wild day of trading following Donald Trump’s most recent tariff actions against Canada, Mexico, and China, with the S&P 500 Index closing at its lowest level since before last year’s election. Trump signalled there could be more discomfort ahead. Germany’s decision to exempt defense from limits on fiscal spending in response to dwindling US support is cascading through markets. It signals a turnaround in the nation’s ironclad borrowing rules, spurring optimism for an economic boost to Europe. The euro came very close to the 1.07/$ mark, bund yields surged more than 20 basis points and the European Stoxx 600 benchmark propelled 1.6% higher.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Lizzy Burden.
Chapters:
00:00:00 – The Opening Trade
00:02:16 – Donald Trump Defends His Economic Agenda
00:02:52 – S&P 500 Erases Post-Election Gains
00:04:55 – Euro Rises, Germany Creates Defense Fund
00:10:18 – Gaza Rebuild Plan
00:11:49 – Statkraft CEO on Geopolitical Uncertainty
00:20:04 – German Bond Yields: Biggest Two-Year Intraday Jump
00:23:31 – Schaeffer CEO: Trump Tariffs Impact is ‘Manageable’
00:35:32 – German 10Yr Yield Soars to the Highest Since 2023
00:40:05 – Trump: Zelenskiy Ready to Negotiate
00:45:34 – European Markets Open
01:02:22 – Von Der Leyen on Defense Funding Boost
01:02:55 – Hensoldt CEO: Seeing ‘Paradigm’ Shift in Germany
01:11:38 – Germany to Set Up €500B Defense Fund
01:24:59 – Mexico President Sheinbaum on Trump Tariffs
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