Macro Briefing: 1 June 2018

US allies respond to Trump’s trade tariffs: Reuters
N. Korean leader meets with Russia’s foreign minister: AP
Italy’s populist parties receive OK to form government: NY Times
China PMI: modest manufacturing growth continued in May: MarketWatch
US Chamber of Commerce: US trade policy threatens 2.6 million jobs: CNN Money
US consumer spending accelerated to 5-month high in April: Reuters
Jobless claims in US remain low, slipping to 221,000: MarketWatch
US job cuts fell 4.8% in May from year ago: Challenger Gray & Christmas
US pending home sales fell in Apr, extend annual slide to fourth month: Builder
Annual smartphone growth was flat in 2017: Kleiner Perkins