Intel CEO Lip-Bu Tan is set to visit the White House Monday after President Trump called for his removal last week over ties to Chinese businesses, according to people familiar with the matter. Tan is expected to have a wide-ranging conversation with Trump, with the intent of explaining his personal and professional background, the people said. He could also propose ways that the government and Intel could work together, they said. Tan hopes to win Trump’s approval by showing his commitment to the country and pledging the importance of keeping Intel’s manufacturing capabilities as a national security issue, one of the people said. Trump has aggressively pushed U.S. companies to make changes ranging from eating the cost of tariffs to doing business with more conservatives and other political allies. Trump’s singling out of Tan came the day after he exempted tech companies such as Apple from new tariffs on semiconductors - on the condition they increase in the U.S. their investments.

The Switzerland market ended marginally up on Friday despite exhibiting weakness for much of the time past noon. Investors continued to react to earnings and assess the economic impact of reciprocal tariffs, and stayed largely cautious with their moves. A report showing a drop in Swiss consumer confidence in the month of July hurt sentiment. The benchmark SMI closed up 17.27 points or 0.15% at 11,866.85. The index touched a low of 11,799.59 and a high of 11,893.00. Logitech International climbed about 2.2%. Adecco, Sonova, UBS Group, Amrize, Partners Group and Novartis gained 1 to 1.7%. Julius Baer gained nearly 1%. ABB, Holcim, Kuehne + Nagel, Alcon, SIG Group, Richemont and Sika closed higher by 0.5 to 1%. Sandoz Group closed nearly 6.5% down. Swiss Re ended down 3.2% and SGS closed lower by about 2.5%. Straumann Holding lost 1.4% Roche Holding, Lonza Group, Lindt & Spruengli, Zurich Insurance and Givaudan ended down 0.5 to 1.1%. Monthly survey results from the State Secretariat for Economic Affairs, or SECO, showed Swiss consumers remained slightly more pessimistic in July as the confidence index declined for the first time in three months. The consumer sentiment index dropped to -33.0 in July from -32.0 in the previous month. Similarly, the index decreased from the previous year's reading of -32.0. Among the four components, the economic outlook index negatively contributed, while past financial situation, financial outlook, and moment to make major purchases were somewhat higher compared to last year.

Europe
Major European markets turned in a mixed performance on Friday with investors largely staying cautious, assessing the impact of tariffs on global economic growth, and continuing to digest corporate earnings announcements and other data. Amid a lack of economic and earnings data, trading in the major European markets was somewhat lackluster. Optimism about a rate cut by the Fed next month aided sentiment a bit. The pan European Stoxx 600 gained 0.16%. The U.K.'s FTSE 100 edged down 0.04%, Germany's DAX closed down 0.24% and France's CAC 40 ended 0.17% up. Switzerland's SMI settled with a gain of 0.15%. However, most of the other markets in Europe closed on a positive note. Belgium, Denmark, Finland, Greece, Iceland, Ireland, Poland, Portugal, Russia, Spain, Sweden and Turkiye closed higher. Netherlands ended weak, while Norway closed roughly flat. In the UK market, Glencore and Antofagasta climbed 2.8% and 2.5%, respectively. Fresnillo and Rio Tinto both gained about 1.7%. Anglo American Plc advanced 1.3%. Coca-Cola Europacific Partners, Mondi, JD Sports Fashion, ICG and Rentokil gained 1.7 to 2.3%. WPP closed more than 6% down. Entain ended down by nearly 6%. Intercontinental Hotels Group, RightMove, The Sage Group, Compass Group, Relx, Auto Trader Group and Endeavour Mining lost 2 to 4%. In the German market, Commerzbank, Fresenius, Merck, Infineon, Siemens, Volkswagen, Mercedes-Benz and Puma gained 2 to 3.5%. Deutsche Post, Daimler Truck Holding, BASF, Deutsche Bank, Heidelberg Cement, Porsche, Zalando, Bayer, BMW and Sartorius also closed with strong gains.

United States
Following the mixed performance seen in the previous session, stocks moved mostly higher over the course of the trading on Friday. With the upward move, the tech-heavy Nasdaq reached a new record closing high. The major averages all finished the day firmly in positive territory. The Nasdaq jumped 207.32 points or 1.0 percent to 21,450.02, the S&P 500 advanced 49.45 points or 0.8 percent to 6,389.45 and the Dow climbed 206.97 points or 0.5 percent to 44,175.61. For the week, the Nasdaq spiked by 3.9 percent, the S&P 500 surged by 2.4 percent and the Dow shot up by 1.4 percent. The strength on Wall Street came as traders shrugged off concerns about the economic impact of President Donald Trump's new tariffs on dozens of U.S. trading partners that took effect at midnight. Apple (AAPL) helped to lead the markets higher, with the tech giant surging by 4.2 percent to its best closing level in five months. Shares of Apple have shown a substantial move to the upside this week after announcing plans to spend about $600 billion in the U.S. over the next four years. Computer hardware stocks turned in some of the market's best performances on the day, with the NYSE Arca Computer Hardware Index climbing by 1.4 percent. Significant strength also emerged among banking stocks, as reflected by the 1.2 percent gain posted by the KBW Bank Index. Oil service, brokerage and networking stocks also saw notable strength, while commercial real estate stocks moved to the downside. Among individual stocks, shares of LegalZoom.com (LZ) skyrocketed by 31.0 percent after Bank of America upgraded its rating on the online legal technology and services company's stock to Buy from Underperform. Online travel company TripAdvisor (TRIP) also spiked by 11.7 percent after reporting second quarter earnings that exceeded analyst estimates.

Asia
There is little movement on Monday in trading on the stock markets in East Asia and Australia. At least the indices there are slightly up, with Shanghai showing the strongest gains, where the Composite is up 0.5 per cent. In Hong Kong, the HSI rose by 0.2 per cent, as did the index in Sydney. There, the interest rate cut by the central bank, which is widely expected on Tuesday, is likely to continue to create a positive mood, with the index at a record high. The Kospi in Seoul is treading water, and there is no trading in Tokyo due to a public holiday.

Bonds
In the U.S. bond market, treasuries extended the downward move seen over the two previous sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, i climbed 4.1 basis points to 4.285 percent.

Analysis
UBS raises Vivendi target to EUR 4.30 (3.80) – Buy
UBS raises Schneider Electric target to EUR 280 (275) – Buy
Morgan Stanley raises Novartis to Equal Weight (Underweight) – Target CHF 100 (91)