US stock indexes fall on rate, trade-war concerns
9/7/2018, 6:22:26 PMNEW YORK (AP) — U.S. stock indexes fell on Friday after President Donald Trump said he may intensify his trade battle with China. A strong jobs report also pushed investors to gir ✔ After bouncing between modest gains and losses in the morning, the S&P 500 was on pace for its fourth straight decline after Trump said he's ready to levy taxes on $267 billion of Chinese imports, which would be on top of tariffs already being considered on $200 billion of Chinese goods ✔ YIELDS: The yield on the 10-year Treasury jumped to 2.93 percent to from 2.87 percent late Thursday ✔ The U.S. stock market opens at 9:30 a.m. EDT on Friday, Sept
US TRADE WAR: Iran condemns Trump’s ‘little games’ - ‘He destroys US credibility'
9/7/2018, 5:31:30 PMPRESIDENT Donald Trump has “destroyed” US credibility through ruthless unilateral sanctions while Iran is working towards a political solution in Syria, Tehran’s foreign minister has claimed. ✔ Agreed to work to end terrorism & avoid human suffering in Idlib ✔ The US has re-imposed sanctions on Iran, causing the country’s rial currency to crash, losing about two-thirds of its value ✔ Oil company Brent Crude were trading at around $77 (£59) with West Texas Intermediate were just shy of the $70 (£54) mark
Chile central bank chief puts China, copper caveats on rate hike plans
9/7/2018, 5:53:56 PMChile's central bank is wary about the possibility that China's trade war with the United States and the risk of a sustained fall in copper prices could make raising interest rates in the coming months an uncertain task. ✔ REUTERS/Rodrigo Garrido/File Photo The world’s largest copper exporter currently has interest rates at 2.5 percent, and with economic growth and inflation forecast to climb following a 13 percent currency slump this year it is signaling it will soon be ready to start nudging them up ✔ The peso slumped 50 percent between 2014 and 2016 when commodity prices plunged ✔ We have been managing a flexible FX rate for 18 years now, and we have been avoiding intervening, he said ✔ Our Standards:The Thomson Reuters Trust Principles
China to boost tax relief for exporters as more US tariffs loom
9/7/2018, 5:43:04 PMRebates to be increased on 397 items ✔ Refunds for screws and safes will increase to 9% from 5%, for example ✔ Other items that are not now candidates for the additional tariff will also qualify for higher rebates ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
The trade war's impact on China will be insignificant, former central bank governor says
9/7/2018, 4:13:12 PMPresident Donald Trump has said he's ready to erect tariffs on more than $500 billion worth of Chinese imports to the United States. ✔ Actually I think China could act quickly, Zhou added ✔ The former PBOC governor warned however that economic modelling could not factor in a quick shift in the mood within China ✔ Also there is a lot of listed companies, that created pollution and investors are (now) not so friendly to these stocks
Trump: Ready to tax an additional $267B in Chinese imports
9/7/2018, 6:22:28 PMWASHINGTON (AP) — President Donald Trump said Friday that he's prepared to impose tariffs on an additional $267 billion in Chinese imports. Such a step would significantly escalat ✔ I hate to say this, but behind that there is another $267 billion ready to go on short notice if I want, Trump told reporters on Air Force One ✔ Trump also wants to reduce the United States' gaping trade imbalance with an ascendant Chinese economy ✔ To a certain extent it's going to be up to China, he said
Dollar rises on solid U.S. August jobs report, but trade tensions...
9/7/2018, 7:39:03 PMThe U.S. dollar rose broadly on Friday as U.S. job growth surged in August, but investors remained jittery about a possible escalation of the U.S.-Chinese trade conflict as U.S. President Donald Trump threatened China with more tariffs. ✔ REUTERS/Marcos Brindicci/File Photo U.S. job growth accelerated in August and wages increased the most annually in more than nine years, the U.S. Labor Department reported, offering the clearest signs yet that the economy has so far weathered the Trump administration’s escalating trade war with China ✔ U.S. benchmark Treasury yields rose on Friday to their highest in almost a month ✔ The dollar’s near-term path would be dictated by steps the Trump administration takes on trade tariffs, analysts said ✔ Our Standards:The Thomson Reuters Trust Principles
Foreigners hunt for bargains in China’s equity bear market
9/7/2018, 5:10:12 PMundefined ✔ A-share valuations look good right now, so they think, ‘why not throw in a bit?’ Hong Kong’s benchmark Hang Seng index has also suffered in recent months, but the contrast in fund flows is sharp ✔ The good news is that equity valuation is starting to reflect the growth slowdown
Trump says new China tariffs are ready
9/7/2018, 7:26:37 PMIf both sets of tariffs go ahead virtually all of China's US exports will be subject to new duties. ✔ The Chinese imports targeted so far include a vast range of goods, including semiconductors, plastics, chemicals and railway equipment, and fridges ✔ Earlier, White House economic adviser Larry Kudlow told CNBC that the administration was still talking with China about trade issues but that so far China had not met US requests
‘Strong’ jobs report reinforces future rate hikes: Dallas Fed’s Kaplan
9/7/2018, 4:01:13 PMIn a FOX Business Exclusive, Kaplan narrows down the number of rate hikes ahead. ✔ Policymakers at the central bank have already voted to hike the benchmark federal funds rate twice this year, and are expected to do so twice more in 2018, bringing the yearly total to four ✔ The Fed’s next scheduled meeting is set for late September, when it’s expected to raise rates again and issue an outlook for proposed rate hikes over the next coming years
Steel pipe maker Zekelman files for IPO: Here are 5 things to know
9/7/2018, 7:11:57 PMZekelman Industries Inc. of Chicago has filed for an initial public offering, seeking to expand its market share and pay down debt. ✔ Read: Trump Today: President threatens China with more tariffs, calls on Sessions to probe op-ed author Don’t miss: Trade-war tracker: Here are the new levies, imposed and threatened Also: Why a major trade war could mean a ‘full-blown recession’ More specifically, while we face competition from foreign manufacturers, we believe that recent developments, particularly the implementation of trade sanctions against unfairly traded steel will meaningfully give Zekelman’s products an edge
Trump threatens new tariffs on $267bn of Chinese goods
9/7/2018, 5:45:19 PMundefined ✔ Mr Trump’s remarks which imply that the entirety of Chinese imports in the US would see higher tariffs suggest his administration is ploughing ahead with plans for a full-blown commercial confrontation with China, after repeated efforts at crafting a deal failed to produce a breakthrough ✔ The $200bn we’re talking about could take place very soon, depending what happens with them
Wall Street turns negative on tariff speculation
9/7/2018, 4:58:41 PMundefined ✔ Wall Street dipped into the red just after midday following media reports that US President Donald Trump has additional tariffs ready to go on Chinese imports and was also planning to start trade negotiations with Japan ✔ Consumer staples, up less than 0.1 per cent, was the only of the S&P 500’s sectors to be in the black at the start of lunch
US consumers set for first big hit from Trump’s China tariffs
9/7/2018, 4:25:18 PMundefined ✔ We were hoping to grow in 2019, but if these tariffs are implemented fully, we could shrink and we won’t be able to hire ✔ President Trump has vowed to help small business people like her, with tax cuts and a lighter regulatory burden, but they may have less ability to absorb raw material price rises than larger corporations and many live in areas that could prove battlegrounds in the upcoming midterm elections
Trump Today: President threatens China with more tariffs, calls on Sessions to probe op-ed author
9/7/2018, 5:42:16 PMPresident Donald Trump threatened China with more tariffs on Friday, as he urged his attorney general to uncover the identity of the official who wrote the anonymous New York Times op-ed and said he’d talk to the special counsel if it’s “fair.” ✔ Like the stock market, the deadline for Trump Today action is 4 p.m. Eastern time, even as we acknowledge that substantive news can and does occur after hours ✔ Suppose I have a high-level meeting on China, Russia or North Korea, Trump told reporters ✔ Also read: Elizabeth Warren suggests invoking 25th Amendment in wake of anonymous anti-Trump op-ed ✔ We Want to Hear from You Join the conversation Comment
World stock markets fall, trade fears and rate hikes worries weigh
9/7/2018, 7:25:12 PMWorld share indexes limped toward their worst week in almost six months on Friday and trading was volatile as investors weighed solid economic data against expectations for interest rate hikes and escalating U.S.-China trade tensions. ✔ NEW YORK (Reuters) - World share indexes limped toward their worst week in almost six months on Friday and trading was volatile as investors weighed solid economic data against expectations for interest rate hikes and escalating U.S.-China trade tensions ✔ REUTERS/Brendan McDermid The Dow Jones Industrial Average fell 40.97 points, or 0.16 percent, to 25,954.9, the S&P 500 lost 2.09 points, or 0.07 percent, to 2,875.96 and the Nasdaq Composite was down 5.3 points or 0.07 percent at 7917.25
European shares suffer worst week since March on trade woes
9/7/2018, 5:10:34 PMEuropean shares steadied on Friday but suffered their worst week since end March as uncertainty over global trade rippled through markets and investors dumped riskier sectors. ✔ A trader sits in front of the computer screens at his desk at the Frankfurt stock exchange, Germany, June 29, 2015 ✔ European autos, which have been particularly sensitive to headlines on tariffs, hit a fresh 33-month low on Friday before recovering some ground and end up 0.2 percent ✔ Our Standards:The Thomson Reuters Trust Principles
Trump ups ante on China, threatens duties on $267 billion more imports
9/7/2018, 6:29:49 PMU.S. President Donald Trump warned on Friday that he has tariffs ready to go on $267 billion worth of Chinese imports in addition to the $200 billion of the Asian nation's goods already facing the risk of duties. ✔ FILE PHOTO: Top White House economic adviser Larry Kudlow speaks to reporters at the White House in Washington, U.S., August 16, 2018 ✔ REUTERS/Kevin Lamarque The U.S. Trade Representative’s office received nearly 6,000 comments and held seven days of public hearings on the proposed levies ✔ Our Standards:The Thomson Reuters Trust Principles
Trump threatens fourth round of China tariffs worth $267bn
9/7/2018, 5:32:48 PMEntirety of US imports now face prospect of higher duties ✔ © Reuters At a rally in Montana on Thursday, Trump extended his criticism of Beijing ✔ The proposed list of tariffs, published in July and spanning about 6,000 items, drew opposition from a wide range of industries, from manufacturers of apparel bags and bicycles to fruit farmers ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
India may not be able to cut Iranian oil imports, despite U.S. demands
9/7/2018, 4:13:10 PMAs the world's third-largest oil importer and the second-largest buyer of Iranian crude after China, complying with U.S. sanctions will require India to find new sources of crude at a higher cost. ✔ What's more, many Indian refiners are configured to process Iranian oil this means they can't switch to other suppliers easily ✔ Still, any palpable rise in energy costs for India's burgeoning population will be problematic for the government especially as it seeks to appease an increasingly frustrated consumer base ahead of general elections next year
How the Midterm Elections Could Be Bullish for Stocks
9/7/2018, 6:09:01 PMPolitical prognosticator Chuck Gabriel puts 70% odds on a mixed Congress after the November elections. ✔ The political outlook has never been more riveting ✔ Divisions in the Democratic Party will also hinder its agenda ✔ Banks, however, will be fine, because Dodd-Frank is mostly settled business after an overhaul last spring ✔ Also, don’t count out initiatives from the 115th Congress’ lame-duck session
What Will Trigger the Next Crisis?
9/7/2018, 6:27:02 PMA decade of superlow interest rates has created multiple distortions in the global financial system. Any of those can unwind painfully. Five things to watch. ✔ The person who predicts the next financial crisis, and there will be at least one, should get credit for luck rather than forecasting skill ✔ Italian bond yields spiked in May after two parties with anti-euro leanings tried to form a new government ✔ And in 2016, a construction accident cut off a third of the U.S. East Coast’s gasoline and jet-fuel supply, sparking price spikes and shortages
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