Non-farm Private Payrolls came at 287K vs. 195K consensus. Tariffs: Market is assuming that China will not materially respond to the tariffs. Trump has gone ahead with tariffs on steel and aluminum. Mexico and Canada are temporarily exempt. Market is assuming that many other countries will also be able to get an exemption. Based on this assumption,
STOXX 600 Earnings Outlook as of the close of today Fourth quarter earnings are expected to increase 11.9% from Q4 2016. Excluding the Energy sector, earnings are expected to increase 9.8%. Fourth quarter revenue is expected to increase 0.3% from Q4 2016. Excluding the Energy sector, earnings are expected to increase 0.5%. 27 companies in

