Trump to put off decision on EU auto tariffs
U.S. stocks look poised to open slightly higher on Tuesday, with market players cheering news that President Donald Trump is highly likely to delay a decision on whether to slap tariffs of as much as 25% on European Union cars and auto parts for six months.
According to Politico, which cited sources, Trump is expected to announce another six-month delay. He is likely to announce the decision at the Economic Club of New York where is due to deliver a speech today.
At around 4:20 a.m. ET, the blue-chip Dow futures were up 8.5 points to 27,666.5, the S&P 500 futures rose 0.88 points to 3,088.38, while the tech-heavy Nasdaq 100 futures indicated a gain of 5.63 points to 8,255.38.
Boeing expects FAA to certify the 737 Max in the coming weeks
Boeing (NYSE: BA) said Monday it expects the Federal Aviation Authority (FAA) to certify its 737 Max jet by mid-December, allowing it resume deliveries to airlines before the year comes to a close.
However, the jet will not resume commercial flights until regulators also approve updated training material for pilots in January
“We are working towards final validation of the updated training requirements, which must occur before the MAX returns to commercial service, and which we now expect to begin in January,” the aerospace giant said in a statement.
The 737 Max planes were grounded worldwide earlier this year in the wake of two crashes that claimed the lives of 346 people. Boeing shares ended Monday’s regular trading session up 4.55% to $366.96.
Disney+ is here
Elsewhere, Disney (NYSE: DIS)’s much anticipated video streaming service Disney+ is finally here after months of waiting. Disney+ has officially gone live in the U.S., Canada and the Netherlands.
The service costs $7 per month or $70 per year for U.S. subscribers. You can expect to stream nearly 7,500 TV episodes from shows and 500 movies within Disney’s core brands such as Star Wars, Marvel, and Pixar.
Tilray, Cronos earnings on tap
Meanwhile, Canadian cannabis producer Cronos (NASDAQ: CRON) is scheduled to report quarterly results before the market opens today. Analysts expect it to announce a loss of $0.03 per share on revenue of $10.4 million, according to FactSet.
Tilray (NASDAQ: TLRY) is also set to report today. Wall Street projects the company will post a loss of $0.30 per share on revenue of $49.59 million after the closing bell.
Other companies publishing their reports today include Tyson Foods (NYSE: TSN), CBS Corp (NYSE: CBS), D. R. Horton (NYSE: DHI), and Advance Auto Parts (NYSE: AAP).
