*By Michael Teich* President Trump's tough talk on trade at the start of the Group of Seven summit was not enough to dampen markets, said Daniel Ives, the chief strategy officer and head of technology research at GBH Insights. Major stock indexes closed on a high note Friday, locking in gains for the week. Equities edged up despite trade tensions stoked by Trump's comments before arriving in Quebec for the G-7 that he would "deal with the unfair trade practices." "Tariffs have been a black cloud, but it's becoming background noise," Ives said Friday in an interview with Cheddar. He said he sees potential for mergers and acquisitions in the big data and consumer industries after Microsoft's $7.5 billion purchase of GitHub, which he described as a "no-brainer." Microsoft, Netflix, and Google are all in positions of strength to make acquisitions, Ives said.

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Apple posts stronger-than-expected Q2 results
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
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