Stock Market Update

[BRIEFING.COM] Markets are climbing as President Trump gives his press conference related to the UK trade deal. 

Commerce Secretary Howard Lutnick said the 10% baseline tariff will remain in place (as expected), adding that the UK will purchase $10 billion worth of Boeing (BA) jets. 

During the Q&A with reporters, President Trump said the US is very close to making additional deals with other countries, specifying that tariffs on China "could be" lowered if the meeting this weekend goes will. Mr. Trump added he may speak with President Xi after the meeting.

Separately, the NY Fed's Survey of Consumer Expectations showed that inflation expectations are mixed. Median inflation expectations were unchanged at the one-year-ahead horizon at 3.6% and increased by 0.2 percentage point at the three-year-ahead horizon to 3.2%, while decreasing by 0.2 percentage point at the five-year-ahead horizon to 2.7%.