Hopes that Canada will join US-Mexico trade deal lift stocks, while US expected to show strong economic growth
Here are IG’s opening calls for Europe:
European Opening Calls:#FTSE 7642 +0.33%#DAX 12557 +0.23%#CAC 5501 +0.29%#MIB 20642 +0.11%#IBEX 9626 +0.21%
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
Stock markets continue to be lifted by the more positive outlook for the US trade situation, following the deal between President Trump’s administration and the Mexican government to replace the North American Free Trade Agreement. There are hopes too that Canada, the other NAFTA signee, will join the new deal within the next few days.
Related: Global stocks soar on US-Mexico trade breakthrough as Canada is sidelined
The consensus estimate is 4% ,and keep in mind the advanced reading was 4.1%. In the first-quarter the economy grew by 2.2%. There is a growing belief that President Trump’s tax cuts are kicking in, and we could see higher levels of growth at the back end of the year in comparison with the beginning. Yesterday, the US Conference Board consumer sentiment report hit is highest level since late 2000.