Metals rally after latest trade war salvo
9/19/2018, 9:23:24 AMundefined ✔ Analysts also expect infrastructure investment, which is metals intensive, to pick up as Beijing seeks to underpin economic growth in the face of President Trump’s tariff onslaught ✔ Copper for delivery in the three months on the London Metal Exchange rose $26.50 a tonne to $6,118, while nickel added $210 to $12,565 and zinc advanced $52 to $2,427
Trump’s trade war still doesn’t scare China
9/19/2018, 8:31:51 AMPresident Xi’s second-in-command says country will thrive despite “obstacles.” ✔ By Danielle Paquette Danielle Paquette Reporter focusing on national labor issues Email Bio Follow September 19 at 4:10 AM BEIJING China’s second highest-ranking official delivered a tough message Wednesday amid the looming trade war with the United States: Beijing will survive ✔ Neither country can avoid pain in this trade war, economists warn
Trade war fears; Danske Bank in trouble; Brexit talks
9/19/2018, 9:46:21 AMHere's what you need to know about the markets before you start your business day. ✔ British Prime Minister Theresa May will make a pitch to her fellow European leaders for a continued close relationship between the United Kingdom and the European Union ✔ Coming this week: Thursday Darden (DRI) Restaurants and Micron Technology (MU) earnings Friday S&P reclassification; new iPhones and Apple Watch hit stores
Fresh sell-off in bond markets as trade war fears ease
9/19/2018, 9:55:59 AMundefined ✔ The 10-year gilt yield hit 1.618 per cent on Wednesday, its highest level since February ✔ The moves could prove to be a boon for equity markets, which tend to thrive when there is good economic news, with stocks often moving in the opposite direction to bond prices
US-China trade war could soon pose a serious economic threat
9/19/2018, 11:38:23 AMSeeking better-skilled workers, Cedar Electronics decided last year to return some of its manufacturing to the United States from the Philippines, only to run smack into a worsening U.S.-China trade war. ✔ Adding to the uncertainty are other trade disputes that make it harder for companies to make long-term plans, he added ✔ Some multinational companies, for example, that might want to shift production from China to Mexico could delay that move until talks to rewrite the North American Free Trade Agreement conclude ✔ ___ AP Business Writers Anne D'Innocenzio in New York and Tom Krisher in Detroit contributed to this report
World stocks bat aside trade war fears, rally for second day
9/19/2018, 9:28:05 AMGlobal equities rallied for a second straight day on Wednesday while safe-haven ... ✔ European share markets followed Asian counterparts higher and U.S. equity futures were modestly higher after Wall Street’s bounce on Tuesday [.N] ✔ Analysts noted that U.S. Treasury Secretary Steven Mnuchin last week had invited Beijing to a new round of talks but some also reckon on a more conciliatory stance from China ✔ Our Standards:The Thomson Reuters Trust Principles
Dollar at two-month highs against yen on trade war relief
9/19/2018, 8:23:23 AMThe dollar held at a two-month high against the Japanese yen and commodity curre... ✔ Beijing retaliated with duties on about $60 billion worth of U.S. goods ✔ But Washington’s new duties were set at 10 percent for now, before rising to 25 percent by the end of 2018, rather than an outright 25 percent ✔ Our Standards:The Thomson Reuters Trust Principles
Consumers will pay the price of a global trade war, Daimler executive says
9/19/2018, 10:12:43 AMThe escalating trade spat between the United States and China is impacting the autos sector with car-makers finding it tough to plan longer-term projects, Martin Daum told CNBC. ✔ These days, we talk about the products we are going to launch in 2022, 2023 ✔ In June, Trump threatened a 20 percent tariff on all car imports from the European Union ✔ brands such as Ferrari, I can see some investment in that, but they are very cyclical businesses
One Dow stock is emerging as the unlikely winner in the trade war
9/19/2018, 11:15:20 AMAs U.S.-China trade tensions escalate, one unlikely winner is emerging: Dow component Caterpillar. ✔ The industrials equipment maker remains in a correction, having fallen 14 percent from its all-time high set in mid-January ✔ Caterpillar, particularly vulnerable to trade, derives more than half its revenue from outside of North America ✔ At this point I'd rather stand down and let the stock go by, said Schlossberg
TRADE WAR WARNING: China boosts banking ties with RUSSIA as anger grows at US tariffs
9/19/2018, 8:53:13 AMRUSSIA is capitalising on the escalating trade war between America and China, by boosting its banking ties with the emerging East Asian superpower. ✔ Andrei Kostin, VTB bank president (Image: GETTY) VTB, a major state-run Russian bank, has announced plans to double its headcount in Shanghai over the next three to four years ✔ US president Donald Trump has ramped up the China trade war (Image: GETTY) State-backed groups such as Sinope and China Investment Corp recently bought-up stakes in Russian oil and chemical firms
‘What Trump Is Doing Is a Nuclear Weapon.’ What the Trade War Looks Like From China
9/19/2018, 10:03:38 AMAs Hong Kong recovers from its worst typhoon in decades, many here are nervously watching an economic storm brewing on the horizon: the escalating trade war between the U.S. and China. ✔ China’s manufacturing hub is already feeling an impact from the trade war ✔ The manufacturing purchasing managers index for the southern Guangdong province fell below the threshold delineating a contraction in August, for the first time since early 2016, according to a Bloomberg analysis of data from the province’s Economic & Information Commission ✔ So lamented what he called Trump’s winner take all mentality
'It's Going to Be a Mess.' Alibaba Founder Jack Ma Says U.S.-China Trade War Could Last 20 Years
9/19/2018, 11:07:48 AMHis warning came just hours after the Trump Administration issued a new round of tariffs on $200 billion worth of Chinese goods. ✔ More and more it looks like the trade war won’t be wrapped up by Christmas ✔ Ma had a similar line for the Alibaba investors gathered in front of him ✔ Alibaba’s shares have dropped 25% since their high in June and investors were spooked by a weak earnings report in August
Shell and Glencore Could Be Winners From Chinese Tariffs
9/19/2018, 10:22:10 AMThe more obvious risks shouldn’t blind investors to the opportunities as China and the U.S. move closer to an all-out trade war ✔ Shares in Cheniere rose 3% Tuesday following news that Chinese tariffs on U.S. LNG would be 10%, rather than the 25% originally mooted ✔ A 10% tariff will therefore erase about a quarter of Cheniere’s margin of safety on the investments; if the tariff rises to 25%, about three quarters of that margin goes ✔ Asian and European companies, particularly in the energy arena, could be among the beneficiaries
China says won't weaken currency to boost exports, as U.S. tariffs...
9/19/2018, 10:46:44 AMChina will not stoop to competitive devaluation of its currency, Premier Li Keqi... ✔ China, which bought only $130 billion in American goods last year, has imposed or threatened tariffs on $110 billion in U.S. products ✔ Now it’s just a question of how the Chinese can save face and say ‘alright we’re going to change, going to open up wider access not only to the U.S. but to the EU and Japan’, said Christopher Peel, chief investment officer at Tavistock Wealth in London ✔ Our Standards:The Thomson Reuters Trust Principles
China retaliates with tariffs on $60 billion of U.S. goods
9/19/2018, 11:15:33 AMThe Chinese government said Tuesday it plans to impose new tariffs on $60 billion in U.S. exports, prompting President Trump to reiterate a threat to punch back by hitting Chinese goods worth more than four times that much. ✔ See Also iPhone XS Max ReviewedWith Help from Tallest NBA Player Ever × Read: Trade war with China may limit Fed’s interest-rate hike plans after September increase While the threat of more tariffs might intensify the rhetorical pressure on Beijing, these people stressed, the actual administrative processincluding holding public hearings, receiving written public comments, and conducting internal impact studieswould take weeks before any fresh measures would take effect
10-year Treasury yield inches toward 7-year high
9/19/2018, 11:34:58 AMTreasury yields rise in early Wednesday trading as investors looked past trade tensions. ✔ See Also Trade Tensions Spike Between the U.S. and China × We still believe that there is scope for a settlement sometime in the first half of 2019, risks that the trade war goes beyond our current assumptions have increased ✔ We Want to Hear from You Join the conversation Comment
Stock futures flat, but S&P 500 poised to trade near record
9/19/2018, 11:18:22 AMU.S. stocks-index futures trade little changed on Wednesday, as investors take a breather following a rally in the previous session that returned major indexes near record levels. ✔ While many are concerned that a full-blown trade war will become a huge headwind to global economic growth, investors have repeatedly shrugged off the issue over the past several months, choosing instead to focus on signs of improving economic fundamentals
China urges United States not to put up barriers to reporting
9/19/2018, 10:03:41 AMChina has had discussions with the United States about U.S. plans to make some C... ✔ Both sides have had contact and communication on this issue, ministry spokesman Geng Shuang replied at a daily news briefing, when asked about the report ✔ All countries should view the media with an open and inclusive attitude and not politicize the matter, he added ✔ Our Standards:The Thomson Reuters Trust Principles
Donald Trump 'suggested building an anti-migrant wall in the Sahara desert'
9/19/2018, 9:55:53 AMJosep Borrell claimed the President blurted out the madcap plan as a European version of his wall along the US-Mexico border ✔ Mr Borrell revealed Trump’s Saharan wall ‘solution’ during a lunch in Madrid organised by cultural association Club Siglo XXI, which was formed in 1969 and is known for holding prestigious debates, conferences and forums ✔ Mexican officials have consistently said they will not pay
Pound euro exchange rate: GBP gains against EUR as UK inflation beats forecasts
9/19/2018, 10:09:13 AMTHE pound euro exchange rate touched a two-month-high of €1.127 this morning after some positive economic data was published. ✔ Looking ahead, pound euro is likely to be influenced by some potential Brexit developments towards the end of the week ✔ Both data sets are expected to show a decline on the previous month, so it remains to be seen which one investors consider to be the more influential
Futures flat, 10-year yields head back above 3 percent
9/19/2018, 11:40:21 AMU.S. stock markets headed for a flat open on Wednesday, holding just off three-w... ✔ At 7:13 a.m. ET, Dow e-minis 1YMc1 were up 2 points, or 0.01 percent ✔ The Commerce Department is forecast to report that housing starts rose to a rate of 1.235 million units in August from a 1.168 million-unit pace in July at 8:30 E.T ✔ Our Standards:The Thomson Reuters Trust Principles
Riggleman rolls out first major TV buy in Virginia’s 5th Congressional race
9/19/2018, 10:08:34 AMThe 30-second spot introduces the political newcomer as a businessman and veteran. ✔ By Laura Vozzella Laura Vozzella Local reporter covering Virginia politics Email Bio Follow September 19 at 6:00 AM RICHMOND Republican Denver Riggleman on Wednesday will launch the first major TV ad buy in Virginia’s 5th Congressional District ✔ With your vote, I’ll put my experience as a veteran and a businessman to work for you in Congress
Philippine IPOs shelved amid stock market and currency rout
9/19/2018, 9:57:00 AMTaiwan's New Kinpo Group is the latest to postpone share sale ✔ In the year to date, the PSEi is down by around 15.6% amid rising interest rates in the U.S., trade tensions and the Philippine peso trading at its weakest level in over 12 years on the country's expanding trade deficit ✔ Try 3 months for $9 Offer ends September 30th
BOJ warns of growing risk to global economy from rise of protectionism
9/19/2018, 9:17:06 AMJapan's central bank holds policy and maintains steady economic outlook ✔ See also How Asian companies are navigating the trade war Earlier in the day, seven out of nine BOJ board members voted to maintain the bank's short-term interest rate at minus 0.1%, and long-term rates around 0% ✔ Try 3 months for $9 Offer ends September 30th
Dollar near seven-week lows as investors look for fresh drivers
9/19/2018, 11:39:56 AMThe dollar neared a seven-week low against a basket of other currencies on Wedne... ✔ Emerging-market currencies firmed, led by the Indian rupee after China said it won’t retaliate with competitive currency devaluations ✔ The main reason the dollar hasn’t jumped after the latest measures is that this was widely expected, and the final amount of tariffs in the region of 5-10 percent is lower than what markets had feared, said Richard Falkhenhall, a senior FX strategist at SEB in Stockholm ✔ Our Standards:The Thomson Reuters Trust Principles
Cheaper valuations help lift Hong Kong stocks for second day
9/19/2018, 10:11:34 AMGreat Wall Motor and CK Asset Holdings climb after share purchases by insiders ✔ In the mainland, the Shanghai Composite rose 1.1%, while the yuan traded onshore climbed 0.1% against the dollar to 6.8503 ✔ Chinese Premier Li Keqiang on Wednesday reportedly said the nation will not devalue its currency to make its exports more competitive ✔ Try 3 months for $9 Offer ends September 30th
A diminished role looms for the IMF
9/19/2018, 10:12:58 AMundefined ✔ These come on top of national self-insurance in the form of reserve accumulation by several countries, and include bilateral and plurilateral central bank swap line facilities (Adam Tooze has explained in his new book how these affect the international political economy) as well as the sovereign rescue funds set up in the eurozone
U.S. Congressman on Chinese Leader’s Trade Promises: ‘Talk Is Cheap’
9/19/2018, 11:37:56 AMAt a hastily arranged news conference during a World Economic Forum meeting in China, a pair of U.S. lawmakers vigorously defended President Trump’s policies and took issue with remarks made by Chinese Premier Li Keqiang. ✔ trade fight briefly fractured the usual decorous calm of a high-profile forum on globalization ✔ These rules have benefited the progress of all mankind, Mr. Li said ✔ If we are going to ask for a proper fairness, if not now, then when ✔ I am surprised to have pollution stinging my nose when I go outside
Latest U.S. Tariffs Could Make Auto Parts Pricier
9/19/2018, 9:49:00 AMThe Trump administration’s latest tariffs will hammer Chinese auto-parts makers, likely raising prices for their U.S. customers, who have few options to buy key parts elsewhere, manufacturers and industry experts say. ✔ A worker in an auto-parts factory in Liaocheng, China ✔ Even so, Pomlead has assured its 300-worker staff that there won’t be layoffs ✔ This overall blanket approach is going to cost consumers in the form of higher prices, said Ann Wilson, senior vice president at the Washington-based Motor Equipment & Manufacturers Association
Get ready for U.S. stocks to come off their ‘sugar high’: JPM strategists
9/19/2018, 11:26:41 AMOur call of the day sees some bumps ahead for U.S. stocks, and advises investors start to diversify in another region that has delivered a few headaches this year. ✔ The chart The jury is clearly still out on whether pot investors will be rolling in it someday or end up like some unfortunate cryptocurrency investors ✔ On the bearish side, the shorts focused on Tilray TLRY, +28.95% and Canopy CGC, +6.77% are growing in number and even paying hefty fees for those positions ✔ We Want to Hear from You Join the conversation Comment
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