Asian stocks skid on trade war and capital flight concerns
10/26/2018, 4:02:27 PMSouth Korea and Singapore indexes hit nearly 2-year lows ✔ The continuing trade war has also stoked fears that the situation could deteriorate further into a new Cold War ✔ It's difficult to see anything triggering a rebound in share prices, so this weak undertone looks set to continue for a while, Murai said, voicing a view that appears to be spreading
Mark Mobius says trade clash with U.S. is the big threat to China’s economy
10/26/2018, 7:01:29 PMMark Mobius, the veteran emerging-markets investor, who has warned that a full-blown trade war between China and the US threatens to rattle foreign investors who are eyeing opportunities in the second-largest economy. ✔ AAPL, -2.05% produce all of its products domestically ✔ Growing military tensions between the two countries in recent months could also pose a significant risk, especially if President Donald Trump’s administration responds by imposing sanctions ✔ We Want to Hear from You Join the conversation Comment
Europe has the right to ‘protect’ its culture and borders says Czech PM
10/26/2018, 4:32:13 PMTHE European Union has the right to protect its borders against traffickers and illegal immigrants, the Czech Prime Minister, Andrej Babiš, said on Thursday, adding that the bloc’s compulsory fixed-quota migrant scheme had “divided Europe”. ✔ When asked if he would rather form a political alliance with France’s europhile leader Emmanuel Macron or Hungary’s anti-immigrant Premier Viktor Orban, Mr Babiš said: I have no idea ✔ He also reiterated his plea for the UK to stay in the bloc, but admitted a second referendum was not realistic anymore
Oil rises ahead of Iran sanctions but falls for a third week
10/26/2018, 7:14:18 PMOil prices rose on Friday, supported by expectations that sanctions on Iran woul... ✔ There are also signs of a slowdown in global trade, with container and bulk freight rates dropping ✔ If global demand contracts more than we think, that doesn’t bode well for oil demand ✔ Output this year is forecast to break the annual record in 1970 ✔ RIG-OL-USA-BHI Our Standards:The Thomson Reuters Trust Principles
Billionaire wealth growth to slow on global market weakness
10/26/2018, 4:18:23 PMEnvironment deteriorated from 2017, when China produced two billionaires a week ✔ China's super-rich led the world's wealth creation last year ✔ Many new billionaires are born when entrepreneurs -- often founders of technology companies in recent years -- take their companies public, Tay explained ✔ Even though this year's wealth growth in China is likely to slow, UBS remains bullish on the second-largest economy due to its large market size and long-term growth expectation
The maker of Barbie dolls warns Trump's tariffs 'will impact the entire toy industry' (MAT) | Markets Insider
10/26/2018, 4:38:32 PMundefined ✔ As of Friday, the first two rounds have taken effect and individual toys are not yet on the list of tariffs so far, but some raw materials are, such as lithium batteries and chemicals that make Silly Putty ✔ Now read: The 25 best MBA programs for people who want to work on Wall Street Meet the former stock analyst whose love for poker and Moneyball approach to investing led to a career advising $200 billion of hedge fund money 'We remain on the sidelines': Here's what investing experts say you should do about the market's vicious turbulence Markets Insider
Stocks sink again, falling back into the red for the year - Los Angeles Times
10/26/2018, 5:57:38 PMStocks slid back in the red for the year Friday as another slump arrived on Wall Street. The latest drop follows Thursday’s rally and comes at the end of an unusually turbulent week of trading. Longtime market favorites such as Amazon and Alphabet, Google's parent company, led the way down. ✔ Stocks slid back in the red for the year Friday as another slump arrived on Wall Street ✔ Media and communications firms, banks and healthcare companies also took heavy losses ✔ The tech-heavy Nasdaq composite dropped 147 points, or 2%, to 7,170 ✔ The yield on the 10-year Treasury note fell to 3.08% from 3.13%
Oil heads for third weekly decline, but Iran sanctions limit losses
10/26/2018, 4:39:29 PMOil prices were little changed on Friday, supported by expectations that sanctio... ✔ Many buyers, including Iran’s biggest customer, China, appear to be falling in line, forcing Tehran to store unsold oil on tankers in the hope it can sell the crude once sanctions are lifted ✔ This week's data is due at 1 p.m. (Graphic: Iran oil exports already falling - tmsnrt.rs/2PkSYHU) Our Standards:The Thomson Reuters Trust Principles
Former Hong Kong securities regulator gives China investment a ‘wide berth’
10/26/2018, 7:48:15 PMChina’s economic growth is “a fiction” and the country’s stock-market rout will get worse from here, according to the former head of Hong Kong’s securities regulatory agency. ✔ China’s Shanghai Composite SHCOMP, -0.19% lost 2.3% on Thursday, dropping to 2,603.8 as of market close, while the Shenzhen Composite Index 399106, -0.17% closed 1.9% lower ✔ Subscribe to MarketWatch's free Need to Know newsletter ✔ We Want to Hear from You Join the conversation Comment
Smithfield Foods warns hog disease could roil global pork market
10/26/2018, 7:42:56 PMOutbreaks of a highly contagious swine disease could roil pork shipments worldwi... ✔ Sullivan said China may be underreporting the number of its cases, echoing the sentiments of U.S. government officials ✔ I know what people tend to believe: that the information coming out of China isn’t reliable, Sullivan said ✔ Our Standards:The Thomson Reuters Trust Principles
Slump in capital spending hints that corporate tax cut is fizzling
10/26/2018, 4:26:53 PMThe evidence is mounting that the corporate tax cut won’t transform the U.S. economy, writes Rex Nutting. ✔ The good news is that investments in intellectual property (such as patents, copyrights, software, and research and development) held up in the third quarter, growing at a 7.9% annual pace after advancing 14.1% in the first quarter and 10.5% in the second
Global oil pricing worries hit U.S. energy shares as earnings loom
10/26/2018, 5:01:58 PMWorries over global oil pricing and pipeline constraints are hanging over the en... ✔ REUTERS/Thomas White/Illustration Third-quarter profits for oil producers generally should be higher than a year ago, because the average price per barrel was up about 44 percent over the same period last year ✔ Exxon is down nearly 9 percent for the month to date, while Chevron is down nearly 10 percent ✔ We’ve seen oil prices sell off here throughout the correction we’ve had in the broad market ✔ Our Standards:The Thomson Reuters Trust Principles
Here’s why bond investors are finding cheer in disappointing corporate earnings
10/26/2018, 5:10:23 PMThird-quarter earnings season isn’t doing much to cheer stock-market investors, but results from U.S. manufacturers is offering some tentative relief to bond investors who feared tariffs would stoke inflation. ✔ Weaker earnings, in turn, could compel management to embark on layoffs and other ways to pursue cost savings ✔ A typical late-cycle development is for flagging earnings to drive cost-cutting initiatives (i.e ✔ Subscribe to MarketWatch's free Need to Know newsletter ✔ We Want to Hear from You Join the conversation Comment
California's dairy farmers were struggling to regain profitability. Then came the trade wars
10/26/2018, 6:21:02 PMCalifornia dairies were dealing with a price slump, environmental regulations, and the high cost of land. Foreign tariffs were the last thing they needed. ✔ Expectations are that by the end of this year the number will fall below 1,300 ✔ That deficit, obviously, can’t be made up with volume ✔ Of course, an economic slump could reverse those trends too ✔ Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com
U.S. economic growth slows slightly in third-quarter; outlook less...
10/26/2018, 4:28:45 PMThe U.S. economy slowed less than expected in the third quarter as a tariff-rela... ✔ As a result, inventory investment added 2.07 percentage points to GDP growth, the biggest contribution since the first quarter of 2015, after slicing off 1.1 percentage points from output in the second quarter ✔ Our Standards:The Thomson Reuters Trust Principles
U.S. economy has its strongest back-to-back quarters of growth since 2014 - Los Angeles Times
10/26/2018, 4:19:43 PMThe U.S. economy expanded at a 3.5% pace in the third quarter as consumers opened their wallets, businesses restocked inventories and governments boosted spending, marking the strongest back-to-back quarters of growth since 2014. ✔ The U.S. economy expanded at a 3.5% pace in the third quarter as consumers opened their wallets, businesses restocked inventories and governments boosted spending, marking the strongest back-to-back quarters of growth since 2014 ✔ Hurricane Florence, which made landfall in North Carolina on Sept
China and Japan waltz closer together, signing deals worth $18 billion during Beijing summit - Los Angeles Times
10/26/2018, 7:59:11 PMChinese President Xi Jinping and Japan Prime Minister Shinzo Abe smiled and clasped hands against a backdrop of the flags of China and Japan during the first summit meeting between the leaders of Asia’s two richest economies in seven years. ✔ Some analysts see the trade dispute as marking Trump’s intention to decouple the U.S. economy from China’s, in particular in strategic, high-tech products, a move that has profound implications not only for China’s economy, but also for Japan and other Asian economies
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