Highlights of comments.
Trump:
- US made no concessions on North Korea
- Wants to see denuclearization of North Korea
- China has never treated US with more respect than now
- Trump would like to get out of Syria
- We have obliterated ISIS in Iraq and Syria
- Talked about not giving Iran open season in the region
- Other countries in region should step up and pary for what is happening in the middle east
- Wants other countries to put soldiers on the ground
- If Iran threatens US in any way they will pay a price like few countries have ever paid
Macron:
- There is no unbalanced trade relationship between US and France
- France is respectful of the WTO rules
- steel – aluminum overcapacity is shared concerned with the US
- US, France want to fix a situation on a Iran including discussions on Syria
- Trump agreed Syrian crisis should not be part of broader picture in dealing with Iran
- Does not know how Trump will decide on Iran nuclear deal
- Nuclear issue is not only issue with Iran, ballistic missiles also pose problems
Press conference ends. S&P is down -37 points. Nasdaq is down -121 points. Dow is down -492.
The declines are not really off Trump comments. The tech sector has been under pressure with concerns about privacy seeming to be a catalyst. Facebook is down 3.93%. Microsoft is down -2.08%. Amazon is down -4%. Alphabet is down -4.76% despite better earnings yesterday. Facebook reports earnings on Wednesday. Amazon, Microsoft report on Thursday.
Caterpillar was up earlier today after earnings but the earnings call was not as flattering (high water mark has been made). The stock is down -6.34%.
