U.S. stock futures were mixed on Tuesday as investors waded back into the markets after the Memorial Day weekend.
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President Trump continued to talk tough on trade during his visit to Japan over the weekend, noting that the United States’ continuing “unbelievably large” trade imbalance with Japan, but also said a trade deal was coming later this year.
In deal news, Fiat Chrysler proposed on Monday to merge with France’s Renault to create the world’s third-biggest automaker, worth $40 billion, and combine forces in the race to make electric and autonomous vehicles, as reported by the Associated Press.
U.S. investors will also be watching a fresh batch of economic data including Consumer Confidence for May and the S&P Case-Shiller report on home prices.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| FCAU | FIAT CHRYSLER AUTOMOBILES N.V. | 12.85 | +0.12 | +0.94% |
European stocks were mixed; France’s CAC 40 lost 0.4% in early trading to 5,316.90, while Germany’s DAX slipped 0.3% to 12,038.53. Britain’s FTSE 100 inched up nearly 0.1% to 7,282.23.
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The merged company would reshape the global industry: it would produce some 8.7 million vehicles a year, leapfrogging General Motors and trailing only Volkswagen and Toyota.
Shares of both companies jumped on the news of the offer, which would see each side’s shareholders split ownership in the new manufacturer.
In Asia, markets clocked small gains across the board; Japan’s benchmark Nikkei 225 added 0.4% to finish at 21,260.14, while Australia’s S&P/ASX 200 gained 0.5% to 6,484.80. South Korea’s Kospi edged up 0.2% to 2,048.83. Hong Kong’s Hang Seng added 0.4% to 27,390.81, while the Shanghai Composite rose 0.6% to 27,390.81.
U.S. markets were closed Monday for the Memorial Day holiday.
The Associated Press contributed to this report.
