Having reached a phase one trade deal with China, it seems American attention is turning to Europe. Speaking at the World Economic Forum in Davos, Switzerland this morning Commerce Secretary Wilbur Ross said the U.S. was still considering slapping levies on European auto imports even as it hopes for a “peaceful resolution” of differences. This follows comments from President Donald Trump yesterday where he said Europe is “more difficult to do business with than China.” The U.S. administration is seeking to complete a new trade deal with the bloc ahead of the 2020 election in November. (Bloomberg)

Procter & Gamble’s long-struggling personal grooming business has produced higher quarterly sales despite men’s tendency to shave less, contributing to a broader turnaround at the household products company behind Gillette.  Razors have in recent years been among the weakest performing parts of the consumer goods group’s portfolio of brands, which also includes Head & Shoulders shampoo, Ariel laundry detergent and Bounty paper towels.  Net earnings for the quarter rose 16 per cent to $3.74bn.  

There will be some interest in earnings today for American Airlines Group Inc. and Southwest Airlines Co. as investors will get a look at the hit the companies are taking from the grounding of Boeing Co.’s 737 Max aircraft. Intel Corp., Comcast Corp. and Union Pacific Corp. are among the other companies announcing results. (Refinitiv)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.