US, China trade war might end soon, Asia expert says
10/12/2018, 4:06:04 PMPresident Trump and President Xi may reach a deal soon, but there’s still a lot of work to be done, according to Michael Pillsbury. ✔ Pillsbury said this meeting presents a chance to squash the tit-for-tat tariff fight that the world’s two biggest economies have been engaged in since July ✔ Trump in September imposed a 10 percent tariff on $200 billion worth of Chinese goods that includes a 25 percent increase by the end of the year
Trump and Xi May Hold Face-to-Face Trade War Negotiations Next Month
10/12/2018, 7:52:59 PMThe meeting would take place at the G-20 summit in Argentina. ✔ It looks like there will be a meeting in Buenos Aires at the G-20, Trump’s top economic adviser, Larry Kudlow, said in an interview with CNBC Friday ✔ I can’t say 100% certainty, but there is no question everybody is looking at it ✔ Kudlow noted Friday that China’s negotiation offers have thus far been rather unsatisfactory, but maybe talks between the two heads of state will bear fruit
Reliance on China risks slowing Southeast Asia economy
10/12/2018, 6:04:38 PMG-20 ministers raise concern over trade war impact on supply chains ✔ Escalating trade tensions are another concern, Changyong Rhee, director of the IMF's Asia department, said on Friday ✔ Argentina, a symbol of emerging-market fragility, pledged at the G-20 meeting to cut government spending and achieve a primary surplus next year ✔ But the discussions here highlighted the clouds looming over the global economy
Stocks post slight gains at end of an ugly week on Wall Street
10/12/2018, 6:04:14 PMAfter a free-wheeling sell-off, triggered by concerns about rising interest rates, tensions over the trade war with China and a startling plunge in the tech sector, Friday started on an upswing. ✔ Friday’s turnaround was led by solid third-quarter earnings from the nation’s biggest banks ✔ But I really disagree with what the Fed is doing, okay ✔ Some found reason for optimism after it was announced that President Trump would meet with Chinese leader Xi Jinping at next month’s Group of 20 summit in Buenos Aires to discuss the intensifying trade conflict ✔ Any kind of softening of the tensions with China would be a huge catalyst for the market, Feinseth said
Larry Kudlow suggests some CEOs may be using China tariffs as an excuse for poor performance
10/12/2018, 5:05:10 PMKudlow, who declined to call out any companies by name, says he wanted to express his skepticism because CEOs "love to blame other factors." ✔ A number of industrial companies in recent days, including paint and coating maker PPG and supply distributor Fastenal, have expressed concern about the U.S.-China trade war damaging their businesses ✔ Apple CEO Tim Cook is an optimist, Kudlow added [Cook] is in touch with us constantly ✔ Before joining the Trump administration as director of the National Economic Council, Kudlow was a CNBC contributor and formerly a Wall Street economist
Walmart reaches $65M settlement with cashiers over seating
10/12/2018, 5:51:32 PMThousands of Walmart cashiers alleged the retail giant failed to provide seats during their shifts. ✔ Walmart warns Trump tariffs may force price hikes: report Jon Hilsenrath, global economics editor for The Wall Street Journal, discusses the growth of the U.S. economy, President Trump’s trade war with China and Walmart’s warning that it may raise prices due to the president’s tariffs ✔ Reuters was first to report the proposed settlement ✔ The case had been scheduled to go to trial later this year ✔ Store managers can also grant permission for seating
Playing a Bounce in Emerging Market Stocks
10/12/2018, 6:00:08 PMStocks in the U.S. have tumbled as investors absorb the reality of a trade dispute with China. One way to respond: Go long overseas stocks. ✔ This trade makes money if the ETF rises above $40.77, which is just a bit higher than Tuesday’s close ✔ China is its largest country holding, at 30%, with South Korea and Taiwan next, at 15% and 12%, respectively ✔ Sometimes, the manner in which volatility reprices risk can help to unveil even more attractive opportunities
United Technologies CEO Advice to Trump on Tariffs: "These are a Bad Idea"
10/12/2018, 5:56:39 PMAmerican consumers have the most to lose with price hikes. ✔ With revenues of $66 billion, United Technologies (UTX), the giant aerospace company, sells aircraft systems and components to Boeing (BA), its biggest customer ✔ When our costs of our air conditioners go up, the cost of our engines go up, you see that in the ticket price of a new air conditioner ✔ Watch the video above for more from our interview with Hayes
World's largest car market suffers double-digit decline in sales
10/12/2018, 4:36:06 PMChina's third straight negative month raises possibility of full-year dip ✔ U.S. brands in China like Ford Motor have been hit doubly hard as consumers tighten their purse strings and stay away from American goods ✔ Domestic automakers, meanwhile, are asking for tax cuts and other relief from the government ✔ On top of tighter lending for private companies from the government push to reduce debt, consumer sentiment has flagged due to such factors as sluggish stock and home prices
Think the US stock sell-off is bad? Check out China’s
10/12/2018, 6:24:30 PMundefined ✔ We categorise any decline of less than 20 per cent as a minor correction, and one of 20-40 per cent as a major correction ✔ As on Wall Street, tech and software stocks also led the sell-off in China, Hong Kong and Taiwan, but Mr Tang pointed out that, similarly, these were top performers last year ✔ err, last week, but means the index has fallen for three consecutive weeks
3M and Xylem Could Lead a Comeback in Industrial Stocks
10/12/2018, 4:37:26 PMCredit Suisse sees the two as top picks in a sector that has been damaged by trade worries. ✔ Walsh admits that trade and inflation are risks to his bullish outlook, but he also believes that EE/MI companies have multiple levers to pull to improve earnings, which help to offset macro issues and the cyclical nature of the sector ✔ Make the Connection Walsh also initiated coverage of General Electric (GE) with a Neutral rating
Tech bounce leads Wall Street higher after two-day tumble
10/12/2018, 4:53:33 PMWall Street rose on Friday following its worst two-day slide in eight months as ... ✔ Slideshow (2 Images) At 12:27 p.m. ET the Dow Jones Industrial Average .DJI was up 61.74 points, or 0.25 percent, at 25,114.57, the S&P 500 .SPX was up 16.09 points, or 0.59 percent, at 2,744.46 and the Nasdaq Composite .IXIC was up 88.55 points, or 1.21 percent, at 7,417.61
Wall St. supported by tech bounce after two-day slump
10/12/2018, 6:12:40 PMWall Street rose on Friday after a bounce in technology and other high-growth st... ✔ At 1:33 p.m. ET the Dow Jones Industrial Average .DJI was up 56.52 points, or 0.23 percent, at 25,109.35, the S&P 500 .SPX was up 12.26 points, or 0.45 percent, at 2,740.63 and the Nasdaq Composite .IXIC was up 88.23 points, or 1.20 percent, at 7,417.29
Wall St. rebounds with technology stocks back in favor
10/12/2018, 7:06:42 PMWall Street indexes rose on Friday after a week of blistering losses as investor... ✔ The only gainers among banks were Citigroup (C.N), which rose 0.6 percent, and Wells Fargo (WFC.N), which eked out a 0.64 percent gain after upbeat results ✔ Netflix (NFLX.O), Amazon (AMZN.O) and Apple (AAPL.O) - some of the names that took a hit from the selloff this week - rose between 2 percent and 4 percent ✔ Our Standards:The Thomson Reuters Trust Principles
The US is hunkering down for a new cold war with China
10/12/2018, 4:29:17 PMundefined ✔ If the Democrats take the House of Representatives in November, they will probably begin impeachment hearings that could distract Mr Trump and his team ✔ It leaves both countries vulnerable to third-party provocations like the assassination of an archduke in June 1914
How to Protect Your Portfolio From Stock Market Madness and Rising Rates
10/12/2018, 5:19:06 PMStocks are down, bonds yields are up, and interest rates are rising. What it means for your portfolio. ✔ But with the Fed boosting rates and other pressures bearing on the market, the days of bonds going up as stocks head lower are probably over ✔ But price gains will moderate, and borrowers won’t be able to afford as much ✔ On a $400,000 loan, that adds $239 to monthly payments
US stocks are on track for gains after two-day tumble
10/12/2018, 7:54:49 PMWorld stocks are climbing Friday after two days of sharp losses. ✔ article U.S. stocks are on track to finish a wobbly day moderately higher Friday, clawing back some of the steep drops they suffered over the previous two days ✔ GM shed 1.7 percent to $31.76, its lowest in almost two years ✔ Ford, trading at its lowest in almost nine years, dipped 2.2 percent to $8.62 ✔ Associated Press Writer Annabelle Liang contributed from Singapore
With risky bets back in play, stock selloff revives 'Volmageddon'...
10/12/2018, 4:24:36 PMMonths after he lost millions when an esoteric corner of financial markets crate... ✔ Early this month, Barclays Plc analysts who argued the February plunge was technical in nature wrote that a strong U.S. economy and so far limited economic impact from trade conflicts, emerging market currency declines and upcoming congressional elections should support the short-vol trade
Opinion | A crack in Wall Street’s confidence should make us worry
10/12/2018, 4:54:51 PMBehind a robust economy, hide the seeds of the next crisis. ✔ Rajan’s wise advice: Strong U.S. growth is sustainable only if policymakers act as if they believe it is not ✔ STAFF: Nathan Gardels, Editor in Chief; Kathleen Miles, Executive Editor; Dawn Nakagawa, Vice President of Operations; Rebecca Chao, Senior Editor; Peter Mellgard, Features Editor; Alex Gardels, Video Editor; Clarissa Pharr, Associate Editor; Rosa O’Hara, Social Editor EDITORIAL BOARD: Nicolas Berggruen, Nathan Gardels, Kathleen Miles, Jackson Diehl, Juan Luis Cebrian, Walter Isaacson, Yoichi Funabashi, Arianna Huffington, John Elkann, Pierre Omidyar, Eric Schmidt, Wadah Khanfar CONTRIBUTING EDITORS: Moises Naim, Nayan Chanda, Katherine Keating, Sergio Munoz Bata, Parag Khanna, Seung-yoon Lee, Jared Cohen, Bruce Mau, Patrick Soon-Shiong
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