US MARKETS:

S&P 500 futures down 0.5% to 2,938.50
Brent futures up 2% to $61.72/bbl
Gold spot down 0.5% to $1,437.48
U.S. Dollar Index down 0.1% to 98.24

GLOBAL NEWS:

Earnings season. Exxon Mobil, Chevron, Sempra and LyondellBasell are among companies reporting earnings today in the United States. Allianz, Crédit Agricole, Royal Bank of Scotland, Ferrari, Vonovia and Atlantia in Europe.

Overview of results. Pirelli issued its second warning of the year, while Toyota will also fail to meet its targets. Mediaset's results are down. NetApp reduces its forecasts. Allianz is doing a little better than expected. Vonovia and Lanxess confirm their annual objectives. The sale of its gas network boosted Petrobras' profits. International Consolidated Airlines has exceeded expectations and Andritz is reassuring, which is worthwhile progress in both cases. Honda's profits are declining because of the United States.

Tariff man is back. The announcement of new customs duties by Donald Trump on Chinese products not yet covered by the previous measures weighs heavily on semiconductor players (STMicroelectronics, Infineon, AMS, etc.) and on the automotive industry.

Amazon bypasses the French tech tax. The online sales giant will pass on the new French tax on tech companies on its tariffs to businesses on its marketplace. "This tax is directly aimed at the marketplace services that we make available to the companies with which we work, so we have no choice but to pass it on to them," Amazon said, interviewed by AFP. It told sellers on marketplace that its commissions would increase by a few tenths of a percentage point, depending on the services used by the sellers.

Race against the clock. Boeing is expected to modify the B737 MAX software again after a malfunction during the tests in June, the Seattle Times reported. The group would still plan to submit its new solution at the end of September, with a view to obtaining a decision from the US Civil Aviation Authority by the end of the year on the aircraft's return to service. Even if the carriers are skeptical, Boeing still hopes to obtain certification at the end of October.

Growth by vacuum. The U.S. Competition Constable is looking at Facebook's acquisition policy as part of his antitrust investigation. The FTC is investigating whether the company has not carried out certain transactions solely to eliminate competitors. Facebook has acquired some 90 companies in 15 years. Determining the intentions of the social network will not be easy for the regulator, especially since buying a competitor is not in itself reprehensible.

The most expensive factory in the world? Foxconn Technology is looking for a buyer for an LCD screen factory under construction in China, which could be worth $8.8 billion, Reuters learned. This facility, built near Guangzhou, may be difficult to sell in the current context. But this probably illustrates the consequences of American trade policy.

In other news. Amazon.com will launch two new renewable energy projects, bringing its installed capacity to 1342 MW. Occidental Petroleum wants to quickly finalize the acquisition of Anadarko, whose shareholders will vote on the project at $38 billion on August 8. Leidos and Idex will replace Anadarko and Foot Locker in the S&P500. Carl Icahn takes 12.6% of Cloudera, which is on fire. Texas joins the American states that want to block the operation between Sprint and T-Mobile US.