Wall Street flat, tech boost softens trade war fears
9/11/2018, 2:35:39 PMU.S. stocks were little changed on Tuesday, as gains in technology stocks helped the Nasdaq regain footing and curbed losses in the materials and industrials sectors due to fears of an escalation in Sino-U.S. trade spat. ✔ Shares of chipmakers, which rely on China for a major portion of their revenue, also fell ✔ At 10:03 a.m. ET the Dow Jones Industrial Average was down 13.84 points, or 0.05 percent, at 25,843.23, the S&P 500 was down 1.76 points, or 0.06 percent, at 2,875.37 and the Nasdaq Composite was up 5.91 points, or 0.07 percent, at 7,930.07 ✔ REUTERS/Lucas Jackson Our Standards:The Thomson Reuters Trust Principles
’WORSE than trade war with USA’ Germany faces hard Brexit ‘DISASTER’ unless EU agrees deal
9/11/2018, 3:36:21 PMGERMANY has far more to lose from a hard Brexit than a trade war with the United States, a German economics expert has warned. ✔ But Theresa May has already rejected this proposal, arguing it would effectively create a border in the Irish Sea and risk the break-up of the United Kingdom ✔ Anyone who continues to argue for a tough stance on the British government in view of the current political situation in the UK either does not have the economic interests of Germany in mind or behaves like turkeys who express themselves without full information, but with a great enthusiasm for Christmas
US-Sino trade war could push investors to favor yuan over the dollar, former PBOC governor says
9/11/2018, 1:19:19 PMAn escalating trade war between the world's two largest economies could persuade an increasing number of global investors to favor China's yuan over the U.S. dollar, the former People's Bank of China (PBOC) Governor Zhou Xiaochuan told CNBC Tuesday. ✔ It is quite like the beginning of the global financial crisis, when the U.S. dollar had a little bit of a problem because it gave room for the other currencies to play a certain role, he added ✔ Meanwhile, robust U.S. jobs numbers late last week have encouraged investors to bet on a higher dollar amid expectations the Federal Reserve will continue raising interest rates
UBS's Blessing sees impact of trade tensions in China
9/11/2018, 3:45:26 PMUBS is seeing the impact of a global trade war in Asia, where geopolitical jitters are prompting investors to trade less, Wealth Management Co-President Martin Blessing told Reuters on Tuesday. ✔ We are clearly closer to the end of the cycle than the beginning ✔ The bank, however, takes a mid- to long-term view in determining investment allocations, as opposed to reacting to rapidly shifting discussions which have a short-term impact ✔ It will provide an investor update in London on Oct. 25 ✔ Our Standards:The Thomson Reuters Trust Principles
Hang Seng index plunges into bear market on trade and China fears
9/11/2018, 3:20:25 PMHong Kong’s Hang Seng index has slipped into a bear market as stocks in Asia continue to be battered by fears of slowing Chinese growth and the impact of Donald Trump’s trade war. ✔ The Hang Seng’s 0.7pc drop overnight tipped the index into the feared territory as investors braced for a further escalation in the trade spat between Beijing and the White House ✔ A bear market is when stocks tumble more than 20pc from an index’s 52-week high ✔ The Trump administration is expected to announce..
Who is Gary Cohn, why did he quit the Donald Trump White House and what has Bob Woodward said about him in his new book?
9/11/2018, 3:04:54 PMGARY Cohn used to be one of the most influential members of the Donald Trump’s presidential administration. Here is a briefing on the man whose explosive claims have featured in Watergate journalis… ✔ What has Bob Woodward said about him in his new book ✔ It was feared it would have ended a trade agreement with South Korea as well as jeopardising a vital intelligence programmes on the Korean peninsula ✔ Cohen is said to have pointed out that China sold 96.6 per cent of the antibiotics used in the US ✔ He told Trump: You’re just rearranging deck chairs on the Titanic
Dollar gains on renewed U.S.-China trade worries
9/11/2018, 3:07:51 PMThe U.S. dollar edged up against a basket of major currencies on Tuesday as concerns about trade friction between China and the United States prompted some safe-haven buying of the currency. ✔ It shed over 0.2 percent on Monday as the euro and sterling bounced after the European Union chief negotiator Michel Barnier hinted at a possible Brexit deal ✔ It later pared those losses to be little changed on the day at $1.15940 following a German magazine Der Spiegel report that said the executives of Deutsche Bank and Commerzbank were growing more open to the idea of a merger ✔ Our Standards:The Thomson Reuters Trust Principles
Japan business chiefs urge wider economic reform in China
9/11/2018, 3:17:35 PMFintech eyed for more cooperation in digital business ✔ Looking beyond heavy industry, the two sides also discussed increasing cooperation in areas of the digital economy, notably financial technology ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Conditions necessary for next financial crisis may emerge by 2020
9/11/2018, 1:29:32 PMundefined ✔ As we mark the tenth anniversary of the global financial crisis, there have been plenty of postmortems examining its causes, its consequences and whether the necessary lessons have been learnt ✔ US and global equities are expensive, especially in the US where P/E ratios are 50 per cent above historic averages
Ten years after Lehman, spotting the next crisis: McGeever
9/11/2018, 12:50:49 PMAs financial market participants reflect on the 10th anniversary of Lehman Brothers' collapse, the consensus is there will be no repeat of the near-death experience, largely because authorities simply will not allow it. ✔ REUTERS/Lucas Jackson The once-in-a-generation financial meltdown and economic catastrophe was so grave that, to borrow from ECB chief Mario Draghi, they will do whatever it takes to make sure it does not happen again ✔ All that is set against an increasingly fragile political and structural backdrop ✔ (The opinions expressed here are those of the author, a columnist for Reuters) Our Standards:The Thomson Reuters Trust Principles
Funding squeeze to deflate China's startup 'bubble,' says US incubator
9/11/2018, 3:17:34 PMSlower pace of venture capital will let smaller players emerge from shadow of giants like Ant Financial and Didi ✔ Beijing's deleveraging efforts and a weak stock market, among other factors, are pushing Chinese banks,companies and wealthy individuals to reduce risky investments ✔ However, this was an opportunity for investors, he said ✔ Try 3 months for $9 Offer ends September 30th
Apple share price on brink of COLLAPSE, experts say as new 2018 iPhone to be released
9/11/2018, 2:22:50 PMAPPLE Inc share prices are expected to drop as the company readies itself to launch a new iPhone model, according to experts. ✔ With struggling sales and competition from other mobile manufacturers, as well as crippling levies on Chinese goods, investors and experts are betting against the tech company recording record losses ✔ The total surpasses Amazon’s total of £7.3bn ($9.6bn) and Elon Musk’s Tesla racking up a total of £6.6bn ($8.7bn) oin bet-against stock
Xi, Putin meet as Russia kicks off biggest ever war games
9/11/2018, 12:22:18 PMLeaders pledge closer ties as Russia kicks off largest military drills with 300,000 troops, including Chinese soldiers. ✔ Xi Jinping, left, met Vladimir Putin on the sidelines of the Eastern Economic Forum in Vladivostok [Mikhail Metzel/via Reuters] Russia's President Vladimir Putin met his Chinese counterpart Xi Jinping on the sidelines of the Eastern Economic Forum in Vladivostok on Tuesday ✔ Now, the Chinese commitment isn't huge – about 3,200 troops and 30 aircraft, but it does perhaps show them they can work together and at some point integrate weapons systems and command structures
Stocks are mixed amid tech gains, insurance losses
9/11/2018, 2:52:50 PMNEW YORK (AP) — Stocks are little changed Tuesday morning as a trade complaint by China puts some pressure on industrial and basic materials companies, and insurance companies tak ✔ STORM WARNING: Hurricane Florence remained an extremely dangerous major hurricane with winds of 130 miles an hour on Tuesday, and it's expected to get stronger as it closes in on the Carolinas Thursday ✔ The U.S. stock market opens at 9:30 a.m. EDT on Tuesday, Sept
U.S.-China trade dispute weighs on equity markets
9/11/2018, 3:39:38 PMA broad index of world stock markets edged lower on Tuesday as it struggled to maintain momentum amid lingering concerns over a trade dispute between Washington and Beijing. ✔ China will respond if the United States takes any new steps on trade, the foreign ministry said on Monday, after Trump warned he was ready to slap tariffs on virtually all Chinese imports into the United States ✔ Our Standards:The Thomson Reuters Trust Principles
Beware one huge mistake investors often make when the economy is at a crossroads, says Charles Schwab’s investment chief
9/11/2018, 12:40:12 PMCharles Schwab chief investment strategist Liz Ann Sonders says "when it comes to the relationship between economic fundamentals and the stock market, better or worse matters more than good or bad. So understanding that it's rate of change, it's the market's ability to sniff out an inflection point. ✔ So understanding that it's rate of change, it's the market's ability to sniff out an inflection point ✔ We've seen this huge surge in consumer confidence ✔ So those would be the two things in the near term that I think could sort of rock the ship a little bit
Bilateral deals, corporate investment to the fore as China trims state funding to Africa
9/11/2018, 12:28:43 PMChina has for the first time reduced the amount of money pledged to support the promises of the Forum on China-Africa Cooperation, as elements of the event suggest a maturing of Sino-African relations. ✔ China's 'five-no' pledge While some African nationals took to social media to criticise their leaders for what they believed was the blind acceptance of Beijing’s will, the mood at the events in the Chinese capital was of genuine cooperation ✔ The 2021 FOCAC gathering will take place in Senegal
Here’s what J.P. Morgan says could cause the next financial crisis
9/11/2018, 2:39:34 PMWill yesterday’s rescue be tomorrow’s risk? ✔ That means that bond prices have dropped, as prices and yields move inversely to each other ✔ If June 2016 does mark a turning point for the bond bull market, that could have significant implications for risk across asset classes ✔ We Want to Hear from You Join the conversation Comment
War games and business deals: Russia, China send a signal to Washington
9/11/2018, 1:02:57 PMBoth under U.S. pressure, Beijing and Moscow are signaling they’re ready to get closer ✔ Such cooperation was especially important in the current international environment, they said, hinting at Trump’s protectionism ✔ Throughout history, great powers have allied with one another against common threats out of necessity, not necessarily because they share values or ultimate aims, Kofman said
Analysis | The Finance 202: Trump's top economist claims early victory on tax cuts
9/11/2018, 12:30:27 PMTheir impact is still unclear. ✔ ‘I guess I have a magic wand, 4.2%, and we will do MUCH better than this! We have just begun.’ Trump appeared to be referencing remarks Obama made about manufacturing employment, not economic growth, during the 2016 town hall ✔ BULL SESSION Jim Carrey: We have to say yes to socialism: Key moments from John Bolton's speech at the Federalist Society: Sarah Huckabee Sanders asks the Justice Department to investigate New York Times op-ed:
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