The case for US stimulus just got weaker. Europe’s is only getting stronger

London (CNN Business)1. America vs. Europe: The United States and Europe could both soon turn on the stimulus taps. The events of the past week have bolstered the case in Europe, but undermined it in the United States. The picture in Europe is different. In Germany, the regional manufacturing powerhouse, factory orders nosedived 2.2% in May compared to the previous month. The year-over-year drop was much worse. “In one line: dreadful,” said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics. The health of German factories is often seen as a proxy for global demand. Such figures, which have weakened in recent months amid trade disputes, point to trouble ahead. Eurozone retail sales for May announced last week were similarly weak. …

Boeing stock falls sharply as crisis mounts over 737 MAX crashes

New York (CNN Business)The tragic Ethiopian Airlines crash on Sunday is raising doubts on Wall Street about Boeing. Boeing declined as much as 13.5% on Monday before recovering somewhat. If Boeing closes down more than 10.4%, it would be its worst day since September 17, 2001, the first day of trading following the 9/11 terror attacks. The stock’s decline on Monday played an outsized role dragging down the 30-stock Dow Jones Industrial Average. Boeing is the index’s most expensive stock — and the index is price-weighted. The Ethiopian Airlines crash comes after a 737 MAX flown by Lion Air crashed off the coast of Indonesia in late October. All 189 passengers onboard the Lion Air flight died. Boeing said in …

Trump-Kim summit fizzles; AB InBev surges; US GDP

London (CNN Business)1. Trump-Kim summit fizzles: Global stock markets dipped Thursday as investors reacted to negative economic data in Asia and the abrupt end of talks between the United States and North Korea. South Korea’s benchmark Kospi index closed down 1.8% after the summit in Hanoi ended without a joint agreement on North Korea’s nuclear program. Some investors had bet that improved relations between North Korea and the rest of the world would mean new business for regional infrastructure and mining companies. That now looks less likely. Shares in Yong Pyong Resorts, which builds ski resorts and gold courses, fell 25% in Seoul. Sungshin Cement stock dropped 20% and Dohwa Engineering dropped 26%. Mining company Ilshin Stone saw its shares …

China’s stock market just had its best day in more than 3 years

Hong Kong (CNN Business)Shanghai stocks just had their best day in more than three years after comments from the leaders of China and the United States brought investors piling back into the market. Chinese shares took a beating last year from fears about the country’s economic slowdown and its trade war with the United States. They have rallied since the start of 2019, in part because of rising hopes of an end to the damaging hostilities between the world’s top two economies. “I can almost hear the collective sigh of relief in the region this morning,” Jeffrey Halley, an analyst at online broker Oanda in Singapore, said in a market commentary Monday, referencing the postponement of the US tariff increase. …