Europe

Global stocks were pressured by a poor start to the second quarter in the US, where carmakers reported disappointing sales data, slamming auto stocks around the globe. The selling has persisted for a second day, with Asian stocks and European shares all partially in the red today after their biggest decline in two weeks. Car sector is biggest mover in Europe, offsetting gains in financial services and media.

Authored by Antonius Aquinas,

• Buying a Home This Spring Will Be Hardest in Years (WSJ)
• Senate showdown likely over Gorsuch confirmation (Reuters)
• ‘Nuclear’ Bid to Confirm Gorsuch May Radically Change Washington (BBG)
• Trump's son-in-law, Kushner, flies into Iraq with top U.S. general (Reuters)
• Solid Asia factory growth caps a strong first quarter but outlook cloudy (Reuters)
• Trump presses China on North Korea ahead of Xi talks (Reuters)
• The Rising Retirement Perils of 401(k) ‘Leakage’ (WSJ)

For those just getting to their desks, here is a summary of what you missed in the overnight session, courtesy of JPM's Adam Crisafulli

After the best quarter for US stocks since 2015, global equities have started off Q2 on the right foot, despite caution about the upcoming meeting between President Trump and China's Xi Jinping later this week, and Fed Minutes which are expected to be more hawkish than the FOMC statement.