1. Trump vs. Canada: The United States and Mexico have reached an agreement to change parts of NAFTA. But where does that leave Canada?
The deal announced by President Donald Trump on Monday left open the question of whether Canada, the third country in the free trade deal, would agree to the changes.
“They used to call it NAFTA,” Trump said. “We’re going to call it the United States-Mexico trade agreement. We’re going to get rid of NAFTA because it has a bad connotation.”
Canada’s Minister of Foreign Affairs Chrystia Freeland will travel to Washington on Tuesday to continue negotiations. Mexico and Canada have stood firm on the importance of maintaining the deal’s trilateral format.
“Progress between Mexico and the United States [was] a necessary requirement for any renewed NAFTA agreement,” said a spokesperson for the Canadian government. “We will only sign a new NAFTA that is good for Canada and good for the middle class.”
2. Global stock market overview: US stock futures were steady on Tuesday.
3. Toyota and Uber: Toyota is investing $ 500 million in Uber and working more closely with the company to accelerate the development of self-driving vehicles.
“This agreement and investment marks an important milestone in our transformation to a mobility company,” Shigeki Tomoyama, president of Toyota Connected Company, said in a statement.
Uber plans to retrofit Toyota Sienna minivans with its autonomous technology and begin real-world testing in 2021. Shares in Toyota ( added 0.9% in Tokyo. )
4. Earnings and economics: Best Buy (, )BJ’s Wholesale ( and )Tiffany & Co ( will release earnings before the open. )
H & R Block ( and )Hewlett Packard Enterprise ( will follow after the close. )
The S&P Case-Shiller Home Price Index for June will be released at 9 a.m. ET, giving insight into the state of the American housing market.
The Conference Board’s Consumer Confidence Index for August will be published at 10 a.m.
5. Coming this week:
Tuesday — Best Buy ( and )H&R Block ( earnings )
Wednesday — Salesforce ( and )Brown-Forman ( earnings )
Thursday — Abercrombie & Fitch (, )Campbell Soup (, )Lululemon ( and )Dollar Tree ( earnings )
Friday — Eurozone unemployment data released for July