Many pharmaceutical products made in Europe will face a 15 percent tariff, pinching manufacturers and potentially leading to higher drug prices.

President Donald Trump spent part of his weekend in Scotland reviving his old grievances against wind power, even claiming at one point that it was “killing” Americans. During a meeting with European Commission President Ursula von der Leyen, Trump abruptly detoured from immigration to wind turbines.

The dollar's early dominance of stablecoins gives the U.S. an advantage that could ultimately push up borrowing costs for Europe, reduce the ECB's autonomy and increase geopolitical dependency on the U.

Financing is secured for the first phase of a project that will feed the flow of U.S. natural-gas exports to Europe.

UBS forecasts that the current installed global data center capacity of 85 GW will double due to soaring demand. Based on the EU's 20-billion-euro investment and the plan for each factory to run 100,000 advanced processors, UBS estimates each factory could be around 100-150 MW with a total capacity for all of the facilities of around 1.5-2 GW.

S&P 500 futures moved up 0.27% this morning. But the STOXX Europe 600 rose by more than double that in early trading as investors in Europe realized that the pact seems to contain several advantages for the EU.

European stocks are near record highs again, seemingly shaking off tense trade talks and currency headwinds, while volatility has evaporated, giving rise to four key themes that investors are playing as they wait for the next major catalyst.

Spanish GDP grew 0.7% in the second quarter, accelerating a little from 0.6% in the first months of the year, a sign of resilience with higher U.S. tariffs set to bite.