After ramping the last few weeks, GE's share price is tumbling back below $15 this morning following remarks from CEO John Glannery that GE expects the market for heavy duty gas power turbines to remain weak through 2020.
"Trump’s strategy seems to be to force us to buy their more expensive gas, but as long as LNG is not competitive, Europe will not agree to some sort of racket and pay extortionate prices," an EU official said.
"Sooner or later anyone’s patience wears thin. Today Europe is being pushed toward countering the 'America First' message with a 'Europe First' policy. Angela Merkel has the right to adopt her own 'Germany First' approach..."
S&P futures are higher, maintaining overnight gains as most Asian markets advance with the MSCI Asia Pacific index 0.5% higher, as sentiment was boosted by President Trump unexpected reversal on China telecom giant ZTE.
The West-Russia relations have reached a new low since the Cold War...Yet European countries continue to buy increased amounts of Russian gas, and Russia’s state-held gas giant Gazprom is boosting production and exports...
"No matter what the outcome of all the diplomatic and economic conflicts between the two shores of the Atlantic, it is already safe to say that Europe has broken free of Washington’s grip, and future relations between the US and the EU will become increasingly tense. "