Oil Bulls Should Worry About a Trade War
9/20/2018, 8:24:35 PMSanctions on Iran and Venezuela’s woes will reduce supplies of oil, but U.S. tariffs on China, the No. 1 energy consumer, could shrink demand. ✔ Iran’s crude and condensate exports averaged 1.92 million barrels a day in August, down from 2.32 million in July, according to estimates from S&P Global Platts ✔ The bigger factor through the rest of the year is likely demand rather than supply, says Brian Youngberg, senior energy analyst at Edward Jones, and the real threat to oil demand comes from the broader economic downturn in emerging markets as a whole, not just China
Beijing mobilizes Chinese enterprises in trade war against US
9/20/2018, 10:53:37 PMInsiders see government hand behind Jack Ma's reversal on 1m job pledge ✔ The U.S. has controlled the semiconductor market, but what should we do if they stop selling to us ✔ LNG-related deals accounted for more than 20% of the total number ✔ Get unique insights on Asia, the most dynamic market in the world ✔ Try 3 months for $9 Offer ends September 30th
Dollar dips across the board as trade war worries recede
9/20/2018, 8:17:35 PMThe dollar fell across the board on Thursday as a resurgence in global risk appe... ✔ FILE PHOTO: Turkish Lira and Dollar banknotes are seen in this picture illustration taken August 19, 2018 ✔ REUTERS/Dado Ruvic/File Photo It’s quite telling that the dollar is weakening even as U.S. yields are rising and spreads are wide or widening in the dollar’s favor against a range of currencies, said Osborne ✔ Our Standards:The Thomson Reuters Trust Principles
Alibaba’s Ma: People should prepare for 20 years of China-U.S. trade war
9/20/2018, 11:09:15 PMTIANJIN, China--Jack Ma, co-founder of Chinese e-tech giant Alibaba Group Holding Ltd. and a known a ✔ and a known advocate for globalization, expressed his growing pessimism over China-U.S ✔ trade frictions, saying it would be a mess for all parties involved ✔ The Chinese billionaire also promised to create 1 million jobs in the United States ✔ The current situation has already destroyed the original premise
Dow, S&P close at record highs for first time since January
9/20/2018, 9:11:16 PMMoney poured into stocks, propelling the major U.S. markets sharply upward as investors shrugged off trade war risks ✔ A wave of buying sent U.S. stocks solidly higher on Wall Street Thursday, pushing the Dow Jones Industrial Average above the all-time high it closed at in January ✔ A weaker dollar and a mix of mostly encouraging economic reports kept investors in a buying mood, despite the escalating trade tensions between the U.S. and China as each nation imposes new rounds of punitive tariffs on the other ✔ The U.S. market is responding to this foundation of economic strength
Trump's right-hand man in the China trade war once rattled Soviet negotiators by smoking an entire box of Cuban cigars in one sitting
9/20/2018, 10:22:48 PMRobert Lighthizer is the US Trade Representative and spearhead for President Donald Trump's trade war with China. According to a new profile, Lighthizer smoked an entire box of Cuban cigars in a windowless room to throw off Soviet negotiators during a tense round of talks in the 1980s. ✔ During the Reagan years, Lighthizer helped to negotiate a slew of trade deals before joining a private law firm to practice international trade law ✔ Outside of the personal trappings, the US Trade Representative is staunchly anti-China and believes much of the US free trade policy of the last 30 years was a mistake
'There is an obsession by the president on trade about cars': The French ambassador to the US says the auto sector is make-or-break for a possible trade war with Europe
9/20/2018, 10:22:50 PMGerard Arnaud, French ambassador to the United States, told reporters he is concerned about the possibility of a trade war between the US and Europe over the auto sector. ✔ Still, a lot remains unresolved, in part because the US is juggling several negotiations at once, including the North American Free-Trade Agreement, which is crucial to the auto industry, as well as a new round of wide-ranging tariffs on Chinese goods
JPMorgan: An economic cold war may be coming
9/20/2018, 11:26:24 PM"Now we need to think about whether this current trade war will turn into an economic cold war," said Jing Ulrich, managing director and vice chairman of Asia Pacific at J.P. Morgan Chase. ✔ Saul Loeb | Contributor | Getty Images US President Donald Trump and Chinese President Xi Jinping (R) arrive prior to a meeting on the sidelines of the G20 Summit in Hamburg, Germany, July 8, 2017 ✔ The government has also launched a Made in China 2025 program to encourage domestic technological innovation
Quotable quotes from Summer Davos
9/20/2018, 11:45:56 PMThe 12th Annual Meeting of the New Champions, also known as Summer Davos in Asia, was held in North China’s Tianjin from Sept 18 to 20. ✔ The 12th Annual Meeting of the New Champions, also known as Summer Davos in Asia, was held in North China’s Tianjin from Sept 18 to 20 ✔ Some countries are against globalization but we have to support a more globalized community for cooperation, he added
Dow, S&P 500 records belie festering fear that China and the U.S. ‘are on a collision course’
9/20/2018, 11:53:24 PMIs Wall Street ignoring the potential for simmering trade conflicts with China to intensify, upending the stock market’s newfound buoyancy? ✔ As Savita Subramanian, equity and quant strategist at Bank of America Merrill Lynch, put it in a , which she reiterated on CNBC on Thursday, Trump’s protectionist stance even in a win scenario for the U.S. could also choke off growth for the S&P 500 constituents
8@eight: ASX set for bright end to week
9/20/2018, 10:38:03 PMWhat happened overnight and what's ahead for the ASX. ✔ This activity came despite what was on balance negative news flow out of Europe overnight, after Brexit negotiations in Salzburg stalled and lifted the likelihood of a no-deal outcome ✔ Market watch: SPI futures up 19 points or 0.3% to 6185 at 6.40am AEST AUD +0.4% to 72.89 US cents On Wall St: Dow +1% S&P 500 +0.8% Nasdaq +1% In New York, BHP +2% Rio +3.8% Atlassian +1.6% In Europe: Stoxx 50 +1% FTSE +0.5% CAC +1.1% DAX +0.9% Spot gold +0.1% to $US1205.42 an ounce at 2.14pm New York time Brent crude -0.9% to $US78.68 a barrel US oil -0.5% to $US70.77 a barrel Iron ore -0.4% to $US69.18 a tonne Dalian iron ore flat at 503 yuan LME aluminium +0.8% to $US2043 a tonne LME copper -0.6% to $US6082 a tonne 2-year yield: US 2.80% Australia 2.11% 5-year yield: US 2.95% Australia 2.28% 10-year yield: US 3.06% Australia 2.71% Germany 0.47 US-Australia 10-year yield gap as of 6.40am AEST: 35 basis points This column was produced in commercial partnership between Fairfax Media and IG
Here’s when traders began to fall in line with the Fed’s projected hiking path
9/20/2018, 8:18:33 PMWith the Federal Reserve’s next two hikes mostly a foregone conclusion, investors turn their attention toward the prospects for next year’s increases. ✔ × The near-term catalyst appears to have been the strong average hourly earnings data, said Jon Hill, an interest-rates strategist at BMO Capital Markets ✔ Sunny Oh Sunny Oh is a MarketWatch fixed-income reporter based in New York ✔ We Want to Hear from You Join the conversation Comment
U.S. oil sanctions on Iran threaten global supplies, but a demand slowdown poses a real risk
9/20/2018, 10:37:12 PMThere are still several weeks before U.S. sanctions on Iranian oil actually kick in, but expectations of tight crude inventories already have contributed to much of this year’s gain in global prices. The rise has come despite concerns over potentially lower energy demand and plans by two of the world’s biggest producers to boost output. ✔ In June, OPEC and allied producers said they would rein in production curbs implemented in January 2017 ✔ Subscribe to MarketWatch's free Need to Know newsletter ✔ Saefong Myra Saefong is a MarketWatch reporter based in San Francisco ✔ We Want to Hear from You Join the conversation Comment
AP Analysis: Trump heads to UN as US retreats from world
9/20/2018, 9:52:05 PMWASHINGTON (AP) — America first? Try America first, second and third. As President Donald Trump prepares for his second U.N. General Assembly, the Olympics of intern ✔ When former Secretary of State John Kerry left the State Department for the last time on January 19, 2017, he told diplomats that the United States was more engaged in more places in this world with greater positive impact than at any time in American history
A ‘massive’ spike in oil smuggling has eased the economic pressure on North Korea
9/20/2018, 11:14:55 PMAs sanctions enforcement eases, Kim Jong Un may secure enough breathing room to avoid moving on denuclearization. ✔ On June 29, the vessel pulled alongside a small, unidentified foreign tanker in the South China Sea to take on a load of petroleum before heading back to its home port ✔ Then this game becomes rather complex and difficult to solve ✔ Min Joo Kim in Seoul and Ellen Nakashima in Washington contributed to this report
‘This could be catastrophic’: Small businesses say new tariffs will make it even harder to compete
9/20/2018, 10:33:49 PMSmall businesses around the country say they are bracing for the latest round of tariffs, which could cut into already-thin profits and leave them with little recourse but to pass on additional costs to consumers beginning this holiday season. ✔ Black Friday shopping at a Best Buy store in Overland Park, Kan ✔ Now you add in another tariff, and this could be catastrophic ✔ The tariffs come as retailers prepare for an otherwise strong holiday season fueled by steady economic growth ✔ Read more: Target’s plan to win over seasonal workers: $12 an hour and $500 gift cards Good news for retailers this holiday season: Americans are spending on big-ticket items Levi Strauss CEO takes a side on gun control: ‘It’s inevitable that we’re going to alienate some consumers’
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