A protracted trade war has trenchant repercussions for China
9/24/2018, 10:00:55 AMundefined ✔ According to recent surveys, investors say the biggest risk they see is the trade war ✔ The three market options open to China would all anger the White House, and shake global finance ✔ In so doing, he would stifle further the chances of needed economic reforms
China thinks the trade war isn’t really about trade
9/24/2018, 9:22:44 AMMany think President Trump is trying to thwart China’s rise — and that adds another layer of complications to the trade war. ✔ By Anna Fifield Anna Fifield Beijing bureau chief ✔ Early on, the Chinese had a very simple narrative that all this trade stuff was about Trump's short-term political objectives, about getting a tweetable victory, he said ✔ But it has made precious little progress on any of these goals
Sky shareholders cheer; Trade war escalates; Huge gold deal
9/24/2018, 9:00:46 AMHere's what you need to know about the markets before you start your business day. ✔ Barrick shareholders will own 67% of the new company, while Randgold shareholders will own 33% ✔ Coming this week: Monday US imposes tariffs on $200 billion worth of Chinese goods; MacOS Mojave launches Tuesday KB Home (KBH) and Nike (NKE) earnings; US consumer confidence Wednesday Bed Bath & Beyond (BBBY) and Carmax (KMX) earnings; Federal Reserve interest rate decision; US new home sales for August Thursday Rite Aid (RAD), Carnival (CCL) and Accenture (ACN) earnings; final revision of US second-quarter GDP Friday End of Q3
Trump's trade war with China just got bigger - CNN Video
9/24/2018, 8:42:50 AMCNN's Matt Rivers looks into how Chinese citizens feel about the trade war between the United States and China. ✔ MUST WATCH Trump's trade war with China just got bigger CNN's Matt Rivers looks into how Chinese citizens feel about the trade war between the United States and China
European markets dented as US-China trade war tariffs take effect
9/24/2018, 11:46:40 AMThe US-China trade war inflicted damaged on European markets this morning as President Donald Trump’s imposed tariffs on China came into force. Mr Trump announced tariffs last week on a further $200 billion (£153 billion) worth of Chinese goods. ✔ Mike Bell, global market strategist at JP Morgan Asset Management Mike Bell, global market strategist at JP Morgan Asset Management, said: There’s potential for this to be a relatively protracted period of uncertainty given that it seems unlikely you’re going to come to a quick conclusion where both sides are happy
Trade war dents European shares while M&A boosts Sky, Randgold
9/24/2018, 9:22:12 AMThe U.S.-China trade war dented European stock markets on Monday after tariffs f... ✔ Sky’s importance in the UK remains and with Comcast likely to dictate the strategy going forwards we would expect a continued focus on telecoms, broadband and mobile, Macquarie analysts said ✔ Randgold Resources (RRS.L) topped the STOXX with a 4.4 percent gain after it agreed a share-for-share merger with Canada’s Barrick Gold (ABX.TO) in a deal worth $18.3 billion ✔ Our Standards:The Thomson Reuters Trust Principles
Analysis | The Trump administration wrongly assumed China would capitulate in a trade war. What happens now?
9/24/2018, 11:15:57 AMAs the trade war drags on, here's why there's no easy win. ✔ Mike Starkey offloads soybeans from his combine as he harvests his crops in Brownsburg, Ind., on Sept ✔ But China is likely to redouble its efforts to build a stronger internal economy and seek new export markets in countries where it has an economic advantage and political influence, as in its Belt and Road Initiative
US futures come under pressure, as fresh trade tariffs take effect
9/24/2018, 9:00:51 AMU.S. stock index futures fell into negative territory ahead of Monday's open, as the trade war between the U.S. and China escalated. ✔ Coming up Monday, the Dallas Fed's Texas Manufacturing Outlook survey is scheduled to be released at 10:30 a.m. ET ✔ Analysts are expecting the U.S. central bank to announce a quarter point rate hike Wednesday, and will be paying close attention to the event to see if the Fed provides any signals as to where monetary policy is heading
China raises tariffs on U.S. goods, accuses Donald Trump of "trade bullyism"
9/24/2018, 9:31:36 AM"Trade war is now a reality," Fitch chief economist warns as Beijing hikes rates on 5,207 U.S. products in retaliation for Trump's latest tariffs on Chinese imports ✔ Earlier, the two sides imposed 25 percent penalties on $34 billion of each other's goods in July and another $16 billion in August ✔ Monday's increase leaves Beijing with about $40 billion of goods for penalties while the Washington has almost $200 billion
JPMorgan: The risk of a 'major miscalculation' by Trump could drive oil to $90
9/24/2018, 10:38:09 AMTrump's overconfidence in economic and market resilience means he might make a miscalculation on Iran sanctions, driving oil prices higher, JPMorgan says. The bank called the US-China trade war "disturbing," and said a market rally may mean investors expect even more aggressive trade policy. ✔ That could mean a greater than previously expected fall in oil exports from Iran ✔ JPMorgan analysts said in the report on Friday: It has always been challenging to establish with any confidence how much trade conflict financial markets have been discounting, so we respect this week's market moves as indicating that investors were expecting more aggression than what the US delivered
Dollar snaps losing streak; pound bounces
9/24/2018, 8:19:39 AMllar edged higher on Monday, snapping a two-week losing streak, as investors bou... ✔ The greenback .DXY rose 0.1 percent to 94.37 against a basket of its rivals as net long positions for the dollar swelled to $25 billion according to CFTC data ✔ (For a graphic on 'World FX rates in 2018' click tmsnrt.rs/2egbfVh) Our Standards:The Thomson Reuters Trust Principles
World oil demand, refining growth to peak in 2035: Unipec
9/24/2018, 9:11:56 AM- World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2... ✔ Unipec's President Chen Bo speaks at the 34th Asia Pacific Petroleum Conference (APPEC) in Singapore September 24, 2018 ✔ REUTERS/Edgar Su Despite the trade dispute, Chen said U.S. crude supply was an important new source for Chinese refiners as it allowed diversification from Middle East and African crudes ✔ Our Standards:The Thomson Reuters Trust Principles
President Trump's Latest Round of Tariffs on Chinese Goods Go into Effect Today. Here's What's On the List
9/24/2018, 10:59:28 AMFrom lamps to wifi routers. ✔ To the contrary, Trump has claimed that his tariffs are intended to protect and support American industry ✔ As Rob Atkinson, president of the Information Technology & Innovation Foundation, told The New York Times , If we are going to impose tariffs on Chinese goods, we should impose them on items that hurt the Chinese, not us
10 things you need to know before the opening bell
9/24/2018, 10:53:37 AMThis is what traders are talking about. ✔ Much of this year's action suggests a rate-driven correction is nearing, Vincent Deluard, a macro strategist at INTL FCStone, said in a recent client note ✔ The S&P 500 is set to open down 0.23% near 2,923 ✔ Dallas Fed Manufacturing will be released at 10:30 a.m. ET
'Bullyism': China says it won't negotiate on trade with the US as the latest tariffs bite
9/24/2018, 8:16:53 AMBeijing released a white paper on Monday attacking the "protectionist practices" and "trade bullyism practices of the U.S. administration." It said that negotiations between the two sides can't take place "under the threat of tariffs." ✔ Asian and European markets have opened lower on Monday, with investors concerned that the trade war may enter phase III ✔ China has promised to respond with tariffs on $60 billion worth of US imports ✔ Separately on Monday, Australian investment bank Macquarie said that Mexico stands to benefit the most from rising trade tensions between the US and China
China says U.S. trying to force it to submit on trade as new...
9/24/2018, 9:11:55 AMtes and China imposed fresh tariffs on each other's goods on Monday as the ... ✔ Economists warn that a protracted dispute will eventually stunt growth across the globe ✔ Companies on both sides of the Pacific are already reporting disruptions to their operations and are reviewing investment plans ✔ Our Standards:The Thomson Reuters Trust Principles
Dow futures imply slight retreat from record as new tariffs take effect
9/24/2018, 11:21:44 AMU.S. stock-index futures were modestly lower on Monday, implying a slight retreat from record levels as uncertainty surrounding trade policy remained near the forefront of investor sentiment, though the market’s recent uptrend appeared intact. ✔ We continually see an incredibly resilient market – one that manages to get past virtually any major event(s) that seemingly could derail its upward trajectory, wrote Rick Bensignor, president of Bensignor Strategies ✔ We Want to Hear from You Join the conversation Comment
Stock futures point lower as new US-China tariffs go into effect
9/24/2018, 8:01:56 AMThe Trump administration placed tariffs of 10 percent on the $200 billion of Chinese products, with the tariffs to go up to 25 percent by the end of 2018. Beijing's new levies will be 5-10 percent. ✔ Where is the market going after new records ✔ The latest escalation in a heated trade war between the world's two largest economies went into effect Monday morning ✔ Comcast’s offer of about £17.28 per share beat Fox’s highest bid of £15.67 in a three round bidding battle that began on Friday
Meet the Bear-Market Stocks Hiding in S&P 500’s Record Run
9/24/2018, 9:40:53 AMDozens of stocks remain stuck in bear-market territory even as the U.S. stock market has charged to records, reflecting a disconnect that shows a robust economy hasn’t offset trade jitters for many American conglomerates. ✔ Auto makers and retailers that cater to drivers are another group of laggards ✔ Ford Motor Co. , down 30% from its 52-week high, earlier in the month scrapped plans to import its Focus vehicle to the U.S. from China ✔ Until people see the definite negative out there, people will ride this market out as long as they can
Are China’s Consumers in Trouble?
9/24/2018, 10:39:05 AMDisappointing retail sales in China have analysts debating whether consumption there, which drives industries from auto making to tourism, is heading for a bigger slowdown. ✔ China’s annual Singles Day sale, the gargantuan spree spawned by Alibaba every Nov. 11, is just six weeks away ✔ That should leave Chinese households more money for discretionary items, and consumption growth did tick higher in the second quarter, although retail saleswhich exclude spending on serviceshaven’t yet shown much of a bump
Solvay sets guidance built on high-end plastics, chemicals
9/24/2018, 9:53:26 AMBelgian chemicals group Solvay said on Monday it expects organic core profit growth to accelerate in the middle term, driven by its advanced materials and advanced formulations businesses. ✔ The group, which manufactures products in more than 60 countries, has been streamlining its business to focus more on specific applications in aerospace, automotive and the oil and gas industry where it can achieve higher margins ✔ KBC Securities said the new mid-term targets were a bit more optimistic that expected ✔ Solef PVDF is used to improve energy storage and reduce weight in batteries
Malaysia snaps three-day winning streak, Singapore gains
9/24/2018, 10:59:19 AMInvestors wary ahead of central bank meetings amid boiling trade tension ✔ While a 0.25-percentage-point increase in Fed Funds rate has been fully-priced in, investors are watching for signs of further rate hike in 2019 and beyond, OCBC said ✔ In corporate news, Malaysian semiconductor firm KESM Industries fell 0.6% after reporting a 16% on-year decline in fiscal fourth-quarter net profit on lower demand for burn-in, testing and electronic manufacturing services ✔ Try 3 months for $9 Offer ends September 30th
At the UN, ‘America first’ becomes America alone
9/24/2018, 10:58:34 AMundefined ✔ Even leaders among traditional allies, such as France and Canada, now ponder aloud whether Washington has gone rogue ✔ Much of the liberal agenda that flourished then, including the burgeoning commitment of member states to the responsibility to protect people threatened by genocide and ethnic cleansing, has since been rendered wishful thinking
China accuses U.S. of ‘trade bullyism’ as $200 billion in tariffs kick in
9/24/2018, 9:53:22 AMChina published a study on the trade conflict with the U.S. on Monday, and accused the U.S. of trying to bully it and other nations via tariffs. ✔ While financial markets have managed to persistently managed to shake off trade worries, a rally for global stocks last week looked tough to follow at the start of a new week ✔ Barbara Kollmeyer Barbara Kollmeyer is an editor for MarketWatch in Madrid ✔ We Want to Hear from You Join the conversation Comment
Canceled Sino-US talks, new tariffs weigh on Asian shares
9/24/2018, 11:38:36 AMStock markets in mainland China, South Korea, Taiwan closed for holidays ✔ Adding to market worries, the Asian country said over the weekend its officials will pull out of planned trade talks with their U.S. counterparts and not engage in discussions as long as President Donald Trump continues to threaten more tariffs ✔ Try 3 months for $9 Offer ends September 30th
Singapore's core inflation stays at four-year high
9/24/2018, 10:59:23 AMAnalysts divided over central bank's next policy move ✔ Looking ahead, they said core inflation is expected to rise gradually over the course of 2018, and the average for the full year would be in the upper half of the government's 1-2% forecast range ✔ The pick-up in inflation is insufficient to prompt the MAS to tighten monetary policy further amid the uncertainties in the external environment and potential downside risk to growth in the medium term, Irvin Seah, a senior economist at DBS Bank, said in a note to clients ✔ Try 3 months for $9 Offer ends September 30th
Hong Kong stocks pull back after China cancels US talks
9/24/2018, 9:58:02 AMTrading activity muted because of China holiday and closure of trading links ✔ The benchmark Hang Seng Index fell 1.6% to 27,499.39, with forty-eight of its 50 components dropping ✔ Mainland Chinese markets, which reopen on Tuesday, will be closed for all of next week for the National Day holiday ✔ Try 3 months for $9 Offer ends September 30th
China Says the Trump Administration Is a Trade Bully as New Tariffs Take Effect
9/24/2018, 8:25:05 AMChina’s State Council accused the Trump administration of being a trade bully and abandoning important communication channels, as a new round of tariffs took effect. ✔ Since the 1990s, the paper said, American companies like Microsoft Corp. , Intel Corp. , Qualcomm Inc., Procter & Gamble Co. , General Electric Co. and others have set up research and development institutions in China to better adapt to the local market, the government said in its report
Trump tariffs risk tarnishing American dream of mobility
9/24/2018, 10:15:49 AMundefined ✔ President Donald Trump has sold a vision of America as a place where manufacturing workers earn a proud living making things ✔ Prices will rise as RV suppliers and manufacturers who overproduced when animal spirits were high earlier this year seek to recoup higher costs
Russian Oil Production Hits Post-Soviet Record
9/24/2018, 9:33:25 AMWhile there has been no love-loss between the U.S. and Russia in recent years, news coming out of Moscow yesterday was sure to cheer the most ardent Russian naysayers in both Washington and especially the U.S. energy patch. ✔ While there has been no love-loss between the U.S. and Russia in recent years, news coming out of Moscow yesterday was sure to cheer the most ardent Russian naysayers in both Washington and especially the U.S. energy patch ✔ In essence, voter angst over gas prices could spill over to the 2020 presidential election season
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