Key Takeaways
- President Trump announced a 100% tariff on any and all movies made outside of the United States, citing the theft of the U.S. movie-making business by other countries.
- TotalEnergies SE (TTE) outlined a significant strategic shift, reducing its net capital expenditure forecast by $1 billion annually until 2030 and planning a $7.5 billion cash savings program from 2026 to 2030, while aiming to increase electricity production by 20% annually over the same period.
- The White House indicated a deal on Gaza is "very close," with Press Secretary Karoline Leavitt expressing hope that President Trump will complete a peace plan.
- The U.S. Commerce Department is broadening its Entity List to automatically cover subsidiaries owned 50% or more by restricted entities, imposing new trade restrictions to close loopholes.
- AbbVie Inc. (ABBV) is set to launch its ovarian cancer drug, Elahere, in the UK at the U.S. list price, emphasizing the value of innovative therapies.
President Trump has declared a 100% tariff on all movies produced outside of the United States, asserting that the U.S. movie-making business has been "stolen" by other nations. The announcement, made on Truth Social, aims to address what Trump described as a "very fast death" of the American film industry, particularly impacting California. He stated that he has authorized the Commerce Department and the U.S. Trade Representative to immediately begin instituting the tariff.
In other trade-related news, the U.S. Commerce Department is expanding its Entity List to automatically include subsidiaries owned 50% or more by companies already on the list. This move is designed to prevent entities from circumventing trade restrictions by establishing new subsidiaries.
Corporate Strategy and Pharmaceutical Developments
TotalEnergies SE (TTE) unveiled a revised strategy, forecasting a reduction in net capital expenditure to approximately $16 billion in 2026 and $15-17 billion annually from 2027 to 2030, a $1 billion annual decrease from previous guidance. Concurrently, the French energy giant plans a $7.5 billion cash savings program from 2026 to 2030 and aims to boost its electricity production by 20% annually until 2030. The company also committed to an attractive shareholder return policy of over 40% payout through cycles.
AbbVie Inc. (ABBV) is preparing to launch its innovative ovarian cancer drug, Elahere (mirvetuximab soravtansine-gynx), in the UK. The company intends to price Elahere in the UK at the U.S. list price, underscoring its belief in the value of the treatment for patients with folate receptor-alpha (FRα) positive, platinum-resistant high-grade serous epithelial ovarian cancer.
In analyst ratings, Citigroup increased its price target for BlackRock (BLK) to $1350 from $1200. Meanwhile, Barclays reduced its price target for Unilever PLC (UL) to 5300 pence from 5600 pence and lowered Saint-Gobain's (SGO.PA) target price from EUR 119 to EUR 117.
Economic Outlook and Geopolitical Landscape
Bank of England (BOE) official Ramsden provided insights into the economic landscape, stating that his risk evaluation is "fair and balanced." Ramsden highlighted the high importance of wage settlement data in assessing inflation trends and noted that the labor market is loosening, beginning to impact wages. He also emphasized the significant role of food prices in shaping household inflation expectations, observing increased sensitivity to these changes since 2022.
On the geopolitical front, a Ukrainian delegation is scheduled to visit the United States this week for discussions, as confirmed by Andriy Yermak. Concurrently, the White House expressed optimism regarding a potential resolution in the Middle East, with Press Secretary Karoline Leavitt stating that a deal on Gaza is "very close" and expressing hope for President Trump to finalize a peace plan.
Israeli Prime Minister Benjamin Netanyahu held private meetings with technology investors to discuss artificial intelligence, indicating a focus on the burgeoning field. Additionally, White House Press Secretary Leavitt reiterated calls for a clean government funding bill, urging legislative action. French Socialists are reportedly once again ready to challenge Emmanuel Macron's new Prime Minister.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.