Trump visits Paris; Yellen round 2; OPEC under pressure


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Premarket: 6 things to know before the bell – Jul. 13, 2017

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1. Trump visits Paris: President Trump is visiting Paris on Thursday to meet with French President Emmanuel Macron.

The two leaders, who share little in terms of policies and priorities, are scheduled to hold a press conference.

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The event is likely to be dominated by questions about the actions of Trump’s son, Donald Trump Jr.

Trump Jr. released emails earlier this week showing he agreed to meet with someone he believed to be a “Russian government attorney” after receiving an email offering him information that would “incriminate” Democratic presidential nominee Hillary Clinton.

2. Oil under pressure: There are new doubts about OPEC’s plan to eliminate a global oil glut.

A new report released Thursday by the International Energy Agency showed that the group’s compliance with an agreement to slash its output has slumped to 78% in June from 95% in May.

Crude oil futures dropped 1% to trade around $45 per barrel after the report was published.

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3. Earnings: Delta Air Lines (DAL) and Peak Resorts (SKIS) are set to announce earnings before the open Thursday.

There’s been a trickle of second-quarter results coming in over the past few days. The taps will be gushing on Friday when earnings come out from JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC).

4. Yellen speaks: The head of the Federal Reserve, Janet Yellen, will wrap up two days of testimony about monetary policy on Thursday.

The central banker’s hearings before House and Senate lawmakers are being closely monitored by traders as they try to gauge her plans for interest rates.

5. Stock market overview: Global stock markets were buoyant on Thursday after the Dow Jones industrial average hit an all-time high in the previous trading session.

U.S. stock futures were pointing up.

European markets were mostly higher in early trading. The main Asian markets ended the day with moderate gains.

The Dow jumped 0.6% on Wednesday, while the S&P 500 climbed 0.7% and the Nasdaq rose 1.1%.

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6. Coming this week:

ThursdayDelta Air Lines (DAL) earnings; President Trump visits French President Emmanuel Macron
Friday JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC) earnings

CNNMoney (London) First published July 13, 2017: 4:57 AM ET


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