Chinese orders dry up for Japan's machine tools
10/23/2018, 9:26:55 PMSeptember bookings drop 22% as factories brace for trade war impact ✔ China is a growth market for the medium-to-long term, but we have to wait and see what comes in the next six months or so, said Okuma President Yoshimaro Hanaki ✔ Market participants are jittery about any more bad news like Yaskawa's downgrade when additional companies announce their April-September results
Wall St. ends down while oil tumbles on demand worries
10/23/2018, 8:46:23 PMWall Street indexes fell in Tuesday's volatile session though they had pare... ✔ Typically, you’ll see two or three corrections that are 5 to 10 percent on average per year ✔ The Dow Jones Industrial Average fell 125.98 points, or 0.5 percent, to 25,191.43, the S&P 500 lost 15.19 points, or 0.55 percent, to 2,740.69 and the Nasdaq Composite dropped 31.09 points, or 0.42 percent, to 7,437.54 ✔ Our Standards:The Thomson Reuters Trust Principles
US market will have an 'ugly' day Wednesday if China goes into 'free fall' again: Art Cashin
10/23/2018, 9:05:30 PMTraders were bargain hunting on Tuesday but if China doesn't support its market or stocks drop again it will be an ugly day on Wednesday, says Art Cashin of UBS. ✔ Even when we were at the complete lows on the day there wasn't this sense of panic at all, he told Power Lunch before the market close ✔ The S&P 500 dropped 0.6 percent Tuesday, its fifth straight decline ✔ Herzig & Co. CNBC's Fred Imbert contributed to this report
WTO Members Work to Overhaul Trade Watchdog Amid Trump’s Criticism
10/23/2018, 9:13:13 PMPresident Trump’s complaints about the World Trade Organization have prompted American allies to seek ways to overhaul the body before the U.S. protest effectively cripples the global commercial arbiter by the end of next year. ✔ WTO advocates say the body’s ability to arbitrate trade fights helped quell a Great Depression-like trade war during the 2008 financial crisis ✔ Asked if the U.S. felt urgency to keep the WTO courts functioning past next year, he demurred, saying, We’ll see
Harley-Davidson Stalls in U.S. Over Trump Tariff Blowback. But Globally, Its Profits Rev Up
10/23/2018, 10:41:19 PMAn icon of Americana, the motorcycle company has found itself in overlapping crosshairs of politics and demographics. ✔ The company’s revenue was up from $962 million to $1.12 billion, and net income including one-time expenses rose 70% ✔ The tariff on imported motorcycles rose from 6% to 31%, adding about $2,200 to the cost of an average model ✔ The company has almost a billion dollars in cash and equivalents on hand, providing a strong cushion against prevailing winds
Navarro: 'The balls are in China's court'
10/23/2018, 11:17:31 PMWhite House trade adviser Peter Navarro wouldn't offer a time frame Tuesday for how long it will take President Donald Trump to reach a trade deal with China amid escalating rounds of tariffs. ✔ But Navarro downplayed the meeting, saying it's not a trade negotiation by any means ✔ Beijing could try other measures to escalate the trade war, including charging even higher tariffs, imposing import quotas, restricting Chinese citizens' travel to the United States for study and tourism and slashing taxes for companies affected by the tariffs
Robert Mueller’s Russia investigation not swaying midterm voters, say pollsters
10/23/2018, 11:49:54 PMSpecial counsel Robert Mueller’s Russia-meddling and collusion investigation of the Trump administration is proving to be something of a dud on the campaign trail, with pollsters saying they see few voters following the probe or saying their vote will be affected by it. ✔ AEI senior research fellow Karlyn Bowman said Mr. Trump has shown an ability to frame foreign policy issues as a means to protect the U.S. national interest ✔ Ms. Miller, who also co-founded the Winston Group, noted that in 2016 25 percent of all voters said they decided on their candidate in the last month of the campaign
Xi-Abe summit to trigger dozens of cross-border deals
10/23/2018, 10:06:12 PMNikkei ETFs to debut in Shanghai, while Mizuho and Citic plan infrastructure financing ✔ The partnership will be a centerpiece of the two nations' plans for joint infrastructure development in third countries ✔ Japan's three megabanks, including Mizuho, will contribute to the fund, which will solicit funds from institutional investors in both countries
Trump's Tariffs to Blow the Lid off Baseball Hat Prices, Increasing Cap Costs by 25%
10/23/2018, 10:03:16 PMRegardless of who wins the World Series—the Red Sox or the Dodgers—baseball fans will lose. ✔ Like much of the garment industry, the production of baseball hats is something that left the United States decades ago ✔ And moving production away from suppliers with which American companies have had relationships for years is not easy ✔ New Era maintains a robust global supply chain and sources product from a number of countries in addition to China
Inside Target’s plan to win over customers this holiday season
10/23/2018, 11:06:12 PMThe retail behemoth is expanding same-day delivery options, free two-day shipping and its drive-up programs across the country. ✔ That is Target’s answer starting into the holiday season as it rides strong earnings, boosts its toy inventory and expands its customer service efforts nationwide ✔ On Tuesday, Target announced a slew of perks, including some specifically for the holiday season ✔ It’s all about making Target America’s easiest place to shop
Tariffs begin to take bite out of U.S. corporate earnings growth
10/23/2018, 8:03:46 PMThe easy money may be over. ✔ As a result, high market valuations could mean investors are not willing to pay as much for a company’s earnings, he said ✔ The forward price to earnings ratio of the S&P 500 index was 16.2 as of Monday, down from a 2018 peak of 18.5 on January 22, according to Refinitiv data ✔ Our Standards:The Thomson Reuters Trust Principles
Where have all the good Asian jobs gone?
10/23/2018, 10:06:11 PMEmerging nations struggle to follow Japan and China up employment value chain ✔ A fierce debate now rages about how far this target is likely to be missed ✔ Yet even those who argue that India is managing to create employment opportunities for its burgeoning population of young people struggle to claim that they are good quality -- a fact born out by the huge numbers who regularly scramble to secure menial public sector roles ✔ James Crabtree is an associate professor in practice at the Lee Kuan Yew School of Public Policy at the National University of Singapore
Turkey, Midterms, Migrant Caravan: Your Tuesday Evening Briefing
10/23/2018, 10:14:51 PMHere’s what you need to know at the end of the day. ✔ Defense officials have a message for Russian operatives trying to interfere in the U.S. midterms: We know who you are, and we’re watching ✔ The Times, in an unsigned article, waxed a bit more poetic than is usual for sports prose: The withered stalk of the baseball season burst with a crash into radiant bloom at Braves Field today ✔ Sign up here to get it by email in the Australian, Asian, European or American morning
In push for House control, Democrats in close races are dialing back the anti-Trump rhetoric
10/23/2018, 9:23:29 PMIn battleground districts held by Republicans, there’s scant talk of the Mueller investigation, Stormy Daniels or the president’s tweets. ✔ Human Rights Campaign President Chad Griffin and Democratic candidate Lauren Underwood for Illinois' 14th Congressional District candidate listen during a LGBTQ Roundtable after her endorsement on Wednesday, Oct. 3, 2018 in Geneva, Ill.(Photo: John Konstantaras, AP) BENTON, Illinois – Brendan Kelly, the Democratic county prosecutor who is looking to unseat Republican Rep ✔ He says he disapproves of the president's personal attacks and the administration's sharp reductions in the number of refugees allowed in the country
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