Walmart is where the trade war comes home
9/19/2018, 2:40:12 PMThe latest round of tariffs brings the White House's trade war with China directly to the country's largest retailers and the consumer products they sell. ✔ And raising prices is anathema to Walmart, a company that controls 10% of the US retail market and has a customer base of low- and middle-income Americans ✔ So while Walmart is already locked in for the coming holiday season, Christmas lights will probably be more expensive next year
China still has "bullets" to fight Trump's trade war
9/19/2018, 1:13:13 PMIt can't muster enough retaliatory tariffs, but it could deploy a host of other -- less obvious -- weapons ✔ Last year, the Chinese government closed most of South Korean retailer Lotte's supermarkets in China after the company's sale of South Korean land to be used for an antimissile system inside its own country ✔ -- The Associated Press contributed to this story
Asian stocks rise for second day amid trade war escalation
9/19/2018, 12:42:17 PMGreat Wall Motor gains as Chairman buys shares; Cathay Pacific advances after data ✔ China Shenhua Energy added 2.7% following a 5.8% increase in August coal sales to 40.4 million tons ✔ India' steel ministry has proposed increasing the effective import duty on some streel products to 15% from current rates that range between 5% and 12.5%, Reuters reported, citing sources and a government document ✔ --Suzannah Benjamin Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Wall Street opens higher as investors shrug off trade war
9/19/2018, 1:45:36 PMU.S. stocks opened higher on Wednesday, as investors brushed aside the latest bl... ✔ (Reuters) - U.S. stocks opened higher on Wednesday, as investors brushed aside the latest blows in Washington and Beijing’s trade war ✔ Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2018 ✔ Our Standards:The Thomson Reuters Trust Principles
U.S. Chamber chief says Trump can still avoid a damaging trade war
9/19/2018, 2:47:39 PMU.S. Chamber of Commerce President Tom Donohue said on Wednesday that the Trump ... ✔ FILE PHOTO - President of the U.S. Chamber of Commerce Tom J. Donohue arrives for a Congressional Gold Medal ceremony honoring former Senate majority leader Bob Dole (R-KS) on Capitol Hill in Washington, U.S., January 17, 2018 ✔ I don’t think we’re there right now, Donohue told a breakfast organized by the Christian Science Monitor ✔ Our Standards:The Thomson Reuters Trust Principles
Executives on the front line worry about where the trade war goes next
9/19/2018, 3:14:34 PMCoca-Cola is relatively relaxed for now, Suntory is worried and JPMorgan says there isn't much it can do about the trade war between the United States and China. ✔ 'Aggressive US sanctions' Some businesses, such as Japanese drinks group Suntory, (STBFY) are already feeling the financial pinch ✔ Trump seems to have figured out Twitter (TWTR), but I think he needs to get WeChat and get talking with President Xi, he said, referring to Tencent's (TCEHY) popular Chinese social networking app
Analysis | The Finance 202: The stock market is shrugging off Trump's trade war. That may not last.
9/19/2018, 12:45:01 PMBut Trump could see a green light to raise the stakes with China. ✔ Politico: Brussels and Washington believe they have found a recipe for a speedy transatlantic trade deal: Think small ✔ BULL SESSION Shut up and step up: Hirono's message to men Australians are finding needles in their fruit: Sony's robot dog Aibo vs
Alibaba's Jack Ma Says U.S.-China Trade War Could Last 20 Years. Here's Why America's Tech Industry Should Worry.
9/19/2018, 3:18:46 PM"It's going to be a mess." ✔ This article first appeared in Data Sheet, Fortune’s daily newsletter on the top tech news ✔ Beijing hinted it won’t send negotiators for proposed talks with Treasury Secretary Steven Mnuchin ✔ The FANGSFacebook, Amazon, Netflix and Google’s parent Alphabetwon’t suffer
Emerging markets are looking like a good buy — but prices could fall further, analyst warns
9/19/2018, 3:12:42 PMSome long-term strategic investors are finding value in markets like China and India despite trade war escalation and rising interest rates, but asset prices could fall further based on sentiment alone. ✔ Investors are pulling away whether it's debt or equity markets, and that's causing some of the decreases we're seeing in emerging market indices, Aguzin said ✔ While we expect EM to be relatively stable and perhaps even to recover slightly in the coming few weeks, the poor underlying macro picture, and falling commodity prices, in combination with coming U.S. Fed hikes, imply that EM assets will remain under pressure over the next six to 12 months
Dollar drifts lower as Brexit talks, data make for volatile British pound
9/19/2018, 12:25:51 PMThe U.S. dollar trades slightly weaker versus many of its rivals on Wednesday, as investors focus on turmoil surrounding the British pound, as well as China’s reiteration that it wouldn’t use its yuan as a trade war tool. ✔ The greenback was little changed versus Japan’s yen USDJPY, -0.03% fetching ¥112.31 ✔ On the trade war front, China’s Premier Li Keqiang reiterated that China wouldn’t devalue its yuan as a tool in the spat, which lend some support to the Chinese currency ✔ Anneken Tappe Anneken Tappe is a markets reporter for MarketWatch ✔ We Want to Hear from You Join the conversation Comment
Wall Street futures slip, US Treasury yields steady
9/19/2018, 12:46:53 PMundefined ✔ The escalation of the trade war between the US and China remained an overarching concern in markets in the first part of this week as Beijing placing duties on $60bn of American imports in retaliation for Washington’s move to impose new levies on $200bn of Chinese imports
Stocks Edge Lower as Focus Stays on Trade
9/19/2018, 1:40:13 PMStocks seem ready for a relatively quiet day, with major indexes drifting slightly lower ahead of the open as trade remains the main investor focus. ✔ Nonetheless, he warns, with equities near all-time highs it is difficult to envision multiple expansion in an environment where the pace of earnings growth is slowing ✔ Novartis(NVS) is down 1.1% to $84.23 after the U.K.’s National Institute for Health and Care Excellence said its leukemia drug Kymriah is too expensive for CAR-T therapy for adult lymphoma
Stocks rise, dollar drops as trade holds spotlight
9/19/2018, 3:08:22 PMU.S. stocks rose in early trading Wednesday as investors focus on the latest North American trade talks. ✔ The S&P 500 Index rose for a second day ahead of trade talks between American and Canadian officials set for Wednesday in Washington ✔ Earlier, shares in Japan, Hong Kong and China climbed ✔ The yen edged up after the Bank of Japan left its policy unchanged, keeping monetary stimulus in place
Oil climbs as EIA reports a 5th-straight decline in U.S. crude stockpiles
9/19/2018, 3:19:55 PMOil futures climb Wednesday, with the U.S. benchmark getting a boost after a government report reveals a fifth-straight weekly decline in U.S. crude inventories. ✔ If we continue to see that riseand coupled along with the trade warwe could see the equity markets come off, along with a slowdown in global growth if the trade war goes to the next level, said Zahir ✔ We Want to Hear from You Join the conversation Comment
'A Gesture to Our American Friends.' Germany's Plans for a Natural Gas Terminal Could Help the U.S. With Russia
9/19/2018, 12:45:40 PMU.S.-Europe trade negotiations spill over into energy sector. ✔ But most of Germany’s natural gas imports come from Russia, and it is still building a pipeline, Nord Stream 2, to bring natural gas directly from Russia ✔ Of course, the thing about a more liquid market is that you can end up business partners with your purported enemies: earlier this year, the U.S. flirted with buying Russian LNG
Dollar Weakens as Global Growth Concerns Ease
9/19/2018, 3:24:25 PMThe U.S. dollar fell, led by declines against emerging-market currencies, as investor sentiment about risks facing developing economies is showing signs of improvement. ✔ The dollar has gained this year as investors have sought the safety of the world’s reserve currency as tariff fights have stoked tensions among the world’s largest economies ✔ The emerging market central banks are doing what they’re supposed to do, said Mark McCormick, head of currency strategy at TD Securities
A 1980s-era inflation climate could strike stocks, veteran investor Jack Ablin warns
9/19/2018, 12:46:50 PMCresset Wealth's Jack Ablin believes inflation is one of the biggest near-term risks facing investors today. ✔ For example, wage growth [is] trending towards 3 percent, [higher] oil prices and so forth, the chief investment officer at Cresset Wealth Advisors said Tuesday on CNBC's Futures Now ✔ Pair that with the U.S. looking to bring production back home, and Ablin predicts it's a recipe for an inflation comeback ✔ He also would look to make a move on one of the most interest rate-sensitive groups
China denies currency devaluation in response to US tariffs
9/19/2018, 2:34:46 PMPremier Li Keqiang presses free trade agenda at 'Summer Davos' ✔ The devaluation of a currency does more harm than good, he added, in an apparent response to accusations from U.S. President Donald Trump of manipulating of the yuan to ease the impact of additional tariffs ✔ Even if problems occur, we must solve them through cooperation ✔ The new levies of 10% will be imposed on $200 billion worth from Sept ✔ The yuan gained against the dollar in Shanghai on Wednesday ✔ Try 3 months for $9 Offer ends September 30th
Dollar steady as investors digest Sino-U.S. tariff news
9/19/2018, 2:54:48 PMThe dollar was steady against the euro and the Japanese yen and slipped against ... ✔ 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, as some market participants had feared ✔ Traders will be paying attention to next week’s Federal Reserve meeting at which the U.S. central bank is expected to raise benchmark interest rates and shed light on the path for future rate hikes ✔ Our Standards:The Thomson Reuters Trust Principles
LA fur ban: Fashion mecca ‘no longer complicit in inhumane & vile trade’
9/19/2018, 12:40:20 PMFashion capital Los Angeles is on track to become the largest US city to outlaw the sale and manufacture of fur products after its city council unanimously voted for the seismic ban. ✔ It’s expected a draft will be returned to the council within a month for final approval by members and to be signed by Mayor Eric Garcetti ✔ Los Angeles is one of the fashion capitals of the world, and if we can do it here, we can do it anywhere, Councilman Paul Koretz, a sponsor of the measure, said ✔ Kaplan argued the ban will have an impact locally on jobs and tax revenues
Short-term squeeze forces Malaysia to issue debt and sell assets
9/19/2018, 12:53:17 PMCountry fights to balance fiscal responsibility with sustained growth ✔ Finance Minister Lim Guan Eng explained that the government will balance between the need to be fiscally responsible and continuous spending to sustain growth ✔ Japanese investment bank Nomura in a report on Sept ✔ 7 warned of a looming downgrade to the country's sovereign credit rating next year due to declining revenue ✔ Try 3 months for $9 Offer ends September 30th
Global stocks rally for a second day, setting aside trade fears
9/19/2018, 3:25:25 PMWorld stock markets broadly rose for a second straight day on Wednesday, while s... ✔ A broker looks at a graph on his computer screen on the dealing floor at ICAP in London, Britain January 3, 2018 ✔ FILE PHOTO: People walk past an electronic board showing Japan's Nikkei average outside a brokerage at a business district in Tokyo, Japan August 9, 2017 ✔ Our Standards:The Thomson Reuters Trust Principles
Why history suggests emerging-market investors should power through the bear market
9/19/2018, 12:38:22 PMEmerging-market stocks have been one of the most volatile asset categories of 2018, suffering major losses as investors grapple with severe headwinds. ✔ Learn more: The new fear for stock investors is an emerging-market meltdown The losses incurred in 2018 may have made investors gun-shy about diving back into the category of stocks, but Schwab’s data indicates that once the index drops 20%, it is usually up double-digits just six months later
Bringing iPhone Assembly to U.S. Would Be a Hollow Victory for Trump
9/19/2018, 3:01:04 PMIf Apple moved smartphone production to the U.S. to avoid the president’s tariffs, it could do more harm than good. ✔ Apple CEO Tim Cook and President Trump during a tech-industry meeting at the White House in June 2017 ✔ Mr. Dedrick says about $30; Mr. Shih thinks it would be more because of the cost of shipping individual components to the U.S. Still, such an increase would hardly kill sales of iPhones, now priced at $600 to $1,100
Everything wrong with Theresa May's boast that she'll fix the housing crisis
9/19/2018, 1:11:38 PMThe Tory leader has vowed to "fix our broken housing market" - again. This time it's a £2billion pot. But what exactly will it do? We put it under the microscope ✔ Another year, another big-bucks housing promise by the Tories ✔ The vast majority, 19,763, were for affordable rent ✔ What the political opponents say Lord Adonis claimed the cash was tiny & tokenistic (Image: PA) Labour peer and former infrastructure tsar Lord Adonis claimed the cash was tiny & tokenistic ✔ Labour's Shadow Housing Secretary John Healey added: Theresa May’s promises fall far short of what’s needed
Devin Nunes: Shocking Number of Americans Have 'Drank the Russia Kool-Aid,' Truly Believe GOP Is Controlled by Kremlin
9/19/2018, 3:14:41 PMFBN's Maria Bartiromo interviews Rep. Devin Nunes, chairman of the House Intelligence Committee, about military posturing against China, trade deals, and the approaching climax of the Mueller Russian investigation. ✔ If you look at a lot of the facts that are now out, it's the facts that we found on the House Intelligence Committee ✔ Scorned and worried and political, they're kicking into overdrive, says Peter Strzok to Lisa Page ✔ Perhaps your colleague on the left, Adam Schiff, may very well be
Analysis | The Daily 202: Senate Republicans playing hardball with accuser in push to swiftly confirm Kavanaugh
9/19/2018, 1:45:53 PMSupreme Court nominee rehearses for the hearing during a two-hour “murder board.” ✔ Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) leaves a meeting about Brett Kavanaugh at the Capitol on Tuesday ✔ (Reuters) -- Government records show Transportation Secretary Elaine Chao’s flights on private Federal Aviation Administration planes cost nearly $94,000
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