Mostly just an earnings rundown

As we'll possibly get tariff threats and possibilities each day/week, until we actually see details and what might actually happen, I'm not going to comment on it each time I hear something. That said, on the refresh of the 10% proposal on China, across the board, resulted in Chinese stocks trading down overnight and the yuan is a hair weaker. The FX market has really been the main absorber of the tariff comments, particularly with the Mexican peso and Canadian dollar in addition to the yuan.

As there is no data of significance overseas, I'll get right to some notable earnings comments.

From MMM which rose 4% after earnings:

For the full year they expect organic sales growth of 2% to 3%.

They said "the macro recovery continues to be uneven." They expect auto builds "to be slightly negative, but down 3% to 4% in Europe and the US, where we have better penetration and flat in China and up across Asia, where our content per vehicle is lower."

"Consumer electronics is expected to be up low to mid single digits and consumer discretionary spend remains soft, especially in the US where retail sales are expected to be relatively flat."

They saw strength in their aerospace business.

DR Horton traded down almost 3% as people focused on their discounting and lower margins: