Photo: Sean Gallup/Getty Images

BRUSSELS — President Trump left allies in a state of irritation, confusion and — for some, relief — after a NATO summit during which I'm told he was privately charming in some of his one-on-ones but bombastic and threatening in larger meetings.

The big picture: At this morning's emergency meeting of leaders, Trump made comments that some diplomats interpreted as a veiled threat that the U.S. would withdraw from NATO, according to sources briefed on the meeting. But Trump held an impromptu press conference before leaving the summit and in that conference he claimed total victory — saying the summit had been a huge success, and thanks to him, other NATO members had committed to increase their military spending “like they never have before.” 

  • Reality check: Trump's claim is false. Nobody agreed to spend more than the previously agreed-upon 2% target. Following Trump's remarks, French President Macron reiterated that the NATO members only agreed to the spending levels they'd previously agreed to in 2014.

A senior European official summed up the way he understood Trump's private comments this morning: 

"It was more a rant '2% immediately' than a formal demand...there was no clear threat of withdrawal. ... Usual Trump: a stream of incoherent sentences. ... The allies looked the other way as when the old uncle gets nuts."
  • The official added that the NATO summit was "the best it could be considering the person [Trump]." 

Between the lines: European officials have been telling us for weeks that they'd be more than happy if Trump simply took a massive victory lap in Brussels and claimed total credit for NATO members spending more on their defense. Anything to avoid him lashing allies as delinquents and calling the alliance into question. Turns out, Trump did both: he praised allies more fulsomely and attacked allies more harshly than any recent president. And he left everybody spinning in his wake.

  • In other words: Vintage Trump.

Go deeper

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.

2 hours ago - Technology

Dark clouds envelop feel-good Pinterest

Illustration: Eniola Odetunde/Axios

Pinterest set out to be a bright spot in cutthroat Silicon Valley, but now stands to see its reputation forever tarnished by allegations of mistreatment and a toxic culture by women who held senior roles at the company.

Why it matters: Even a company known for progressive policy decisions and successfully combatting hateful and otherwise problematic content isn't immune to the systemic problems that have plagued many tech companies.