Key Takeaways
- U.S. Treasury Secretary Bessent stated that the nation's trade priorities are centered on securing the "best deals for U.S.", emphasizing that internal government considerations are secondary.
- Bessent clarified that the quality of trade agreements is more important than strict adherence to deadlines, noting that the August 1 deadline for ongoing talks is flexible in favor of a substantive agreement.
- The Secretary indicated that the European Union has become "more engaged" in economic discussions, suggesting progress in trade talks and a potential avoidance of contentious outcomes.
- Verizon (VZ) announced robust Q2 2025 earnings, with adjusted EPS of $1.22 and operating revenue of $34.5 billion, both exceeding analyst expectations.
U.S. Treasury Secretary Bessent has reiterated the administration's firm stance on trade negotiations, asserting that the primary focus is on achieving the "best deals for U.S." rather than internal governmental priorities. In a CNBC interview, Bessent highlighted that the quality of any agreement takes precedence over its timing, particularly concerning the August 1 deadline for current talks. He emphasized that the U.S. is "not going to rush" negotiations.
Regarding discussions with the European Union, Secretary Bessent noted that the EU has "become more engaged" in economic matters, suggesting a more constructive phase in trade talks. He expressed optimism that negotiations do not "have to get ugly" and that the EU might be inclined to "negotiate faster" given their increased engagement. However, past comments from Bessent have indicated a belief that the EU faces a "collective action problem" due to its 27 member countries, which can slow down negotiations.
During his visit to Japan, Secretary Bessent stated that the U.S. priorities remain focused on securing the "best deals for U.S.". While in Japan, Bessent did not discuss trade with Prime Minister Shigeru Ishiba, as indicated by the headlines. This comes as Japan faces potential 25% tariffs from the U.S. set to begin on August 1, and Bessent previously met with Finance Minister Katsunobu Kato to discuss economic relations and currency issues.
In other financial news, telecommunications giant Verizon (VZ) reported strong second-quarter 2025 earnings, surpassing market estimates. The company's adjusted earnings per share reached $1.22, exceeding the estimated $1.19, while operating revenue hit $34.5 billion, above the $33.76 billion estimate. Verizon also raised its full-year adjusted EBITDA and free cash flow guidance.
Separately, Dell (DELL) confirmed a data breach involving its test lab system by the "World Leaks Extortion Group". The company stated that the compromised environment is isolated from internal systems and customer networks, and the accessed data primarily included test data, synthetic datasets, or publicly available information, posing no threat to customers.
U.S. natural gas futures experienced a 5% drop due to forecasts of reduced demand, increased supplies, and ample storage. Meanwhile, China announced plans to boost its rental housing supply by encouraging more development, according to Xinhua. This initiative aims to strengthen supervision and increase the availability of rental properties.
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.