Chinese shun American purchases as trade war stings
10/10/2018, 10:18:09 PMMovie industry plagued by slower spending and stronger censorship ✔ China is increasingly expected to overtake the U.S., the world's largest film market, given sluggish sales there ✔ Her movies have stopped screening, and shares of such major studios as Huayi Brothers Media and Zhejiang Talent Television & Film have slumped
China seeks Japan's economic cooperation amid trade war with U.S.
10/10/2018, 10:04:06 PMChinese Premier Li Keqiang on Wednesday called on Japanese business leaders to bolster economic cooperation, as a tit-for-tat tariff trade war between China and the United States has been escalating. "Along with Japan, we would like to protect the multilateral trade system and develop free trade," Li told a Japanese… ✔ The Sino-Japan relationship has returned to a normal development track, Li said ✔ Pledging that China will promote its reform and opening-up policy further, the premier voiced hope for more investment from Japan ✔ The Japan-China CEO Summit was first held in Tokyo in 2015
BREAKING: Dow Jones PLUNGES 836 points: US markets in CHAOS in biggest drop since February
10/10/2018, 8:38:16 PMUS stocks are plunging over fresh fears of a China trade war. ✔ US stocks plunge amid fears of Donald Trump sparking trade war with China (Image: Getty) Stocks dropped the most since February as the S&P 500 fell to its lowest in three months and the Dow Jones dropping as much as 836 points ✔ The Nasdaq 100 Index plummeted more than four percent
Cramer's sell-off handbook: 4 things need to happen for stocks to recover
10/10/2018, 10:29:07 PMJim Cramer says the stock market's recovery hinges on the Federal Reserve, oil prices, the transportation industry and the trade war with China. ✔ CNBC's Jim Cramer knew investors would be counting on him to explain the stock market's weakness after the Dow Jones Industrial Average dropped over 830 points on Wednesday in its sharpest decline since March ✔ First, Fed Chair Jerome Powell needs to walk back his comments about raising interest rates, possibly even aggressively, to combat the strength of the economy, Cramer said, reiterating earlier remarks on the central bank's leader
The Slump in U.S. Stocks Is Accelerating. These Are the Culprits for the Big Selloff
10/10/2018, 11:10:52 PMTrump isn't the only factor. ✔ One of the least celebrated aspects of bull markets is that they are like lush, overgrown forests ✔ One important gauge of inflation, the consumer price index, will be reported Thursday ✔ Amazon’s price-to-earnings ratio is 139 even after today’s selloff, while Netflix’s PE is 148
Core machinery orders rise in Japan
10/10/2018, 9:45:15 PMJapan's core machinery orders unexpectedly rose in August after robust gains in the previous month in a sign that capital spending is set to grow as companies invest in new equipment and software to manage labor shortages. The 6.8 percent increase in core machinery orders, a highly volatile data series… ✔ Japan's core machinery orders unexpectedly rose in August after robust gains in the previous month in a sign that capital spending is set to grow as companies invest in new equipment and software to manage labor shortages ✔ Orders from manufacturers rose 6.6 percent in August, following an 11.8 percent increase in the previous month, due to increased orders from auto manufacturers and the steel sector
The Dow's biggest single-day drops in history
10/10/2018, 9:36:17 PMWhat was the Dow's worst day? Read On... ✔ Why investors should be more concerned about a possible trade war FBN’s Charlie Gasparino, Circle Squared CEO Jeff Sica and B ✔ Investors began mulling the reality that interest rates would in fact rise as the Federal Reserve promised to end its run of record low interest rates
Why stocks are suddenly plunging
10/10/2018, 10:08:25 PMThe Dow was on the cusp of cruising above 27,000 for the first time a week ago. Now, it's in a scary tailspin. ✔ MUST WATCH New York (CNN Business)Just a week ago the Dow was on the cusp of cruising above 27,000 for the first time ✔ If anything, the market turmoil reflects concerns that the economy could grow too fast, forcing the Fed to move aggressively to snuff out inflation
Markets Live: ASX braces for mass sell-off
10/10/2018, 10:03:56 PMAustralian investors are preparing for a mass sell-off on the market today following a big night on Wall Street as all three major indices fell by over 3 per cent. ✔ Search ASX quotes Find by company name or ASX code 9:01am Here's a look at what the futures market looks like over the past 12 months ✔ There was no single catalyst although concerns over the selloff in Treasuries and trade tensions have contributed to the downbeat tone ✔ The pace of the sell-off accelerated in the final hour
Tech Stocks Drag Markets Into The Mud
10/10/2018, 9:28:10 PMCase in point: Apple's market value fell by one Tesla today. ✔ The Dow Jones Industrial Average plunged 830 points, its largest drop since February ✔ President Donald Trump has already been briefed on the sell-off, according to multiple reports, with one senior White House official telling CNBC that this is a bull market correction
Cramer's lightning round: Buy shares of this biotech 'literally tomorrow'
10/10/2018, 11:21:46 PMJim Cramer rattles off his take on callers' favorite stocks, including a biotech play that's ripe for the picking. ✔ We've got some high-quality biotechs that are down big ✔ Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer's world ✔ Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine Questions, comments, suggestions for the Mad Money website
Chinese man faces US aviation spy charges
10/10/2018, 11:52:32 PMProsecutors say Yanjun Xu tried to steal trade secrets from US aviation and aerospace companies. ✔ The indictment was unsealed on Wednesday following the suspect's extradition ✔ Skip Twitter post by @stoiawsyx6 Chinese intelligence officer charged with economic espionage involving theft of trade secrets from leading aviation companies ✔ The two countries have become embroiled in an escalating trade war and
48 Hours With Heidi Heitkamp In North Dakota, Post-Kavanaugh Vote
10/10/2018, 8:52:42 PMFrom Wyndmere to Bismarck to Turtle Mountain, the Democratic senator sought to both defend and move past her vote. ✔ A ribbon skirt, decorated with the colors of the rainbow, was meant to tell her grey skies would soon pass ✔ I voted for Neil Gorsuch, Heitkamp says in the 30-second spot, referring to Trump Supreme Court pick confirmed last year ✔ We’re going to just enclose her, and give her all the power we can, Kekahbah said
Black Wednesday? The Day Every Stock Went Down
10/10/2018, 10:11:24 PMAnd yet the bull market lives on. ✔ As Hurricane Michael escalated from a Category 3 storm to a historic Category 4 monster when it made landfall Wednesday, a similarly barreling storm seemed to hit Wall Street simultaneously: The Dow Jones Industrial Average dropped more than 831 points, or about 3.2%, with the selloff intensifying in the last few minutes of trading ✔ Shares of Tiffany & Co., the diamond jewelry purveyor, were down 10.2%
World War 3: China 'fighting tomorrow's fight' warns FBI as Beijing becomes BIGGEST threat
10/10/2018, 11:10:51 PMCHINA presents a “very significant threat” to the US and its interests according to the Director of the FBI who recently testified before the Senate Homeland Security Committee. ✔ He said: Beijing has mobilised covert actors, front groups and propaganda outlets to shift Americans’ perception of Chinese policies ✔ At the same forum, Mr Wray explained the FBI was currently investigating multiple economic espionage cases in all 50 states that allegedly have links to Beijing
Some Hong Kong lawmakers walk out of policy address over media 'persecution'
10/10/2018, 11:57:49 PMHONG KONG--Some Hong Kong lawmakers walked out of the Legislative Council as city leader Carrie Lam ✔ Authorities in mainland China routinely restrict people’s ability to engage in peaceful advocacy and public discussions on grounds of 'national security' by using this vaguely and broadly defined concept as a pretence to place unjustified restrictions on the exercise of these freedoms, Amnesty International wrote in a statement
Why Good News Meant That Tech Stocks Had a Terrible Day
10/10/2018, 10:00:14 PMStock investors may be tired of winning. ✔ A recent candidate once warned his audiences that if he became president, Americans would win so much, you’ll get tired of winning ✔ As bond yields rise, risk-averse investorsranging from the proverbial cautious retiree to gigantic pension fundsbecome more willing to park more money in bonds and collect the interest
Micron CEO: Memory-chip market is ‘structurally different’ in post-PC world
10/10/2018, 10:25:36 PMThe explosion of devices that use memory and storage chips over the past few years has significantly altered traditional chip supply and demand cycles and in the long run that’s good for chip makers, according to Micron Technology Inc. Chief Executive Sanjay Mehrotra. ✔ May’s rosy forecast flipped by September, when the company’s fiscal first-quarter outlook fell below Street estimates, keeping shares in the low-to-mid $40s range established when the Micron confirmed prices of NAND chips fell in the third quarter ✔ We Want to Hear from You Join the conversation Comment
Brainstorm Health: CVS Aetna Merger, Rituxan Biosimilar, World Mental Health Day
10/10/2018, 8:24:47 PMBrainstorm Health Daily: October 10, 2018 ✔ As you might imagine, astronauts don’t always have the most reliable Internet connection in the cosmos, which can be a problem if a health problem arises that requires a little outside expertise ✔ (Fortune) Advertisement REQUIRED READING Microsoft Just Made a Big Move with 60,000 Patents , by Jonathan Vanian Sears May Be Going Bankrupt , by Lucas Laursen Alibaba’s Jack Ma Says U.S. Will ‘Suffer More’ In Its Trade War With China , by David Meyer It’s Time for Employees to Get Paid Leave to Vote , by Matt Cartwright & Tom Perez Produced by Sy Mukherjee @the_sy_guy sayak.mukherjee@fortune.com Find past coverage
Opinion | Ben Bernanke’s End Game
10/10/2018, 11:03:30 PMAs ‘financial repression’ ends, risk assets are likely to get riskier. ✔ The question that no one can answer with certainty is whether the correction in asset prices will be longer and deeper because the Fed’s financial repression was so extended ✔ Some of our friends think it is irrelevant and that higher corporate earnings and faster growth will carry stocks to new heights, give or take the occasional adjustment ✔ Appeared in the October 11, 2018, print edition
5 questions worried Americans will ask after Dow slumps over 800 points
10/10/2018, 8:44:54 PM‘I was going to open a retirement account — should I wait?’ ✔ The Dow Jones Industrial Average DJIA, -3.15% S&P 500 index SPX, -3.29% and Nasdaq Composite Index COMP, -4.08% have all been experiencing volatility in recent months, weighed by rising bond yields and a trade war with China ✔ Don’t miss: Don’t freak out about the stock market or your 401(k) do these 5 things instead Should I move my traditional IRA to a money market account
Bonds batter Bali
10/10/2018, 10:03:17 PMFacing mounting financial pressure, Asian leaders will rue failure to reform sooner ✔ Titled How Vulnerable is EM Asia?, it seeks to allay concerns that the region is cascading toward another 1997-like crack up ✔ He was given the 2018 prize for excellence in opinion writing by the Society of Publishers in Asia, for his work for the Nikkei Asian Review
There were warning signs a big market sell-off was coming and investors believe there's more to go
10/10/2018, 11:35:02 PMThe steepness of Wednesday's stock market sell-off may have surprised investors, but a correction has actually been brewing in small cap and technology stocks all summer and the shakeout could continue. ✔ Jim Urquhart | Reuters A grizzly bear and her two cubs The steepness of Wednesday's stock market sell-off may have surprised investors, but a correction has actually been brewing in small cap and technology stocks all summer and the shakeout could continue ✔ That run up unnerved some investors who see higher interest rates as a threat to corporate profits, and also as a potential lure for investors to shift money away from stocks into higher yielding fixed income investments
8@eight: ASX to dive as volatility grips global markets
10/10/2018, 8:50:08 PMWhat happened overnight and what's ahead for the ASX. ✔ The Fed’s unwinding balance sheet and progressive interest rate normalization is an act without precedent: cycles have been bent and interfered with, making prices a less reliable indicator of financial market phenomena ✔ Market watch: SPI futures down 109 points or 1.8% to 5914 at 7.12am AEDT AUD -0.4% to 70.72 US cents On Wall St: Dow -3.2% S&P 500 -3.1% Nasdaq -4.1% In Europe: Stoxx 50 -1.7% FTSE -1.3% CAC -2.1% DAX -2.2% Spot gold flat at $US1189.24 at 12.33pm in New York Brent crude -1.9% to $US83.38 a barrel US oil -2.2% to $US73.31 a barrel Iron ore flat at $US71.14 a tonne Dalian iron ore flat at 514 yuan LME aluminium -0.4% to $US2047 a tonne LME copper -0.8% at $US6239 a tonne 2-year yield: US 2.85% Australia 2.03% 5-year yield: US 3.02% Australia 2.25% 10-year yield: US 3.19% Australia 2.75% Germany 0.55% US-Australia 10-year yield gap as of 7.27am AEDT: 44 basis points This column was produced in commercial partnership between Fairfax Media and IG
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