European shares join global trade war relief rally
11/2/2018, 8:57:41 AMEuropean shares joined a global relief rally on Friday after U.S. President Dona... ✔ The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 29, 2018 ✔ The pan-European STOXX 600 rose 1.2 percent by 0827 GMT, hitting its highest since Oct. 10, although companies and indexes most exposed to trade surged further ✔ Our Standards:The Thomson Reuters Trust Principles
As China settles in for trade war, leader Xi emphasizes ‘self reliance’
11/2/2018, 8:29:57 AMJust as Washington is talking about “decoupling,” Beijing is looking inward as well. ✔ By Anna Fifield Anna Fifield Beijing bureau chief ✔ I think this is what Xi wanted to do anyway, said Bill Bishop, publisher of the Sinocism China Newsletter ✔ This was punishment for violating sanctions by selling products to Iran and North Korea and then lying about its practices to federal investigators
Dow Jumps 234 Points Because the Trade War Is Bigger Than Apple
11/2/2018, 10:53:23 AMThe major market indexes look set for a higher open on reports of possible trade progress, which has enabled the market to ignore the big drop from its biggest stock. ✔ Text size 6:27 a.m. Apple (AAPL) is down more than 5%, but sometimes the market is bigger than its biggest stock ✔ Apple’s earnings had caused the major indexes to drop into the red immediately following its release, but investors have chosen to focus instead on reports that U.S. President Donald Trump has requested his advisors write up a trade deal with China
Global markets are surging after reports Trump is ready to back down in his trade war with China
11/2/2018, 10:05:12 AMStocks are rallying sharply after reports of a potential trade breakthrough between the US and China was a catalyst to counter the October sell-off. ✔ The only country missing out on Friday's bounce is the UK, with the FTSE 100 lagging behind on the back of a major rally in the pound on Thursday ✔ Economists predict that the unemployment rate is expected to stay at a 49-year low of 3.7%, while payrolls probably increased by 190,000 jobs Analysts urged caution, however ✔ Business Insider Australia's David Scutt contributed reporting
Trump's latest tariffs undercut his first trade salvo in solar
11/2/2018, 11:21:42 AMIn January, President Donald Trump fired the opening shot of his trade war, slap... ✔ The tax on those imports will rise to 25 percent on Jan. 1 ✔ Its rival, SolarEdge, has said it would move some production to Romania and Hungary ✔ The Commerce Department’s senior renewable energy specialist, Cora Dickson, acknowledged at a September solar industry trade show that the tariffs impacting components pose a challenge for domestic panel manufacturers, but added they will be lifted once the U.S. and China come to better terms on trade ✔ The $50 million plan that replaced it will create 200 ✔ Our Standards:The Thomson Reuters Trust Principles
China central bank warns of excessive money growth
11/2/2018, 11:02:48 AMundefined ✔ Prudent monetary policy will remain neutral, (we will) keep the master gate of money supply under control, and maintain reasonable expansion of credit and aggregate social financing, the People’s Bank of China said in its annual financial stability report ✔ The report cited analyses by unnamed international investment banks that US tariffs could subtract 0.2 to 0.5 percentage points from China’s GDP growth ✔ The PBoC also warned of possible unanticipated financial risk events next year
As China soy demand wavers, U.S. farmers turn back to grains
11/2/2018, 11:21:07 AMSince the mid-2000s, North Dakota farmer Paul Thomas has planted more of his lan... ✔ Aron Carlson, president of the Illinois Corn Growers Association, devoted nearly half of his 3,600 acres to soybeans this year but plans to cut back ✔ He said he may increase corn planting by up to 20 percent at his farm in northern Illinois ✔ Our Standards:The Thomson Reuters Trust Principles
Italian manufacturing sector slips into contraction — PMI survey
11/2/2018, 9:10:48 AMundefined ✔ The manufacturing purchasing managers’ index (PMI) for Italy fell to 49.2 in October, the lowest reading in 46 months ✔ The closely-monitored survey had been teetering on the brink in September, when it held at the 50 line that separates expansion from contraction
Itochu takes $1.3bn extraordinary loss on Citic stock price fall
11/2/2018, 10:43:51 AMJapanese trading house has been unable to expand through joint venture ✔ The Japanese trading house said it would book the loss for the July-September quarter of the current fiscal year, through March ✔ Itochu bought its Citic stake for 13.8 Hong Kong dollars ($1.7) per share ✔ Itochu has not changed its goal for net income of 500 billion yen for fiscal 2018 because its convenience store operations and other businesses remain in good condition
China says 'grey rhino' financial risks may surface in 2019
11/2/2018, 11:45:02 AMChina's central bank promised more preemptive, flexible policies in 2019. ✔ Zhang Peng | LightRocket | Getty Images Headquarter building of the People's Bank of China ✔ China's economic growth cooled to its weakest pace since the global financial crisis in last quarter as a multi-year campaign to reduce debt risks and an escalating trade war with the United States began to bite
Hope for 401(k)s: Why flipping calendar to November could provide lift to stocks
11/2/2018, 11:24:49 AMOctober was a spooky month for stock investors and workers with 401(k)s. But the flip of the calendar to November might revive the battered bull. ✔ The bull market is in the late stages of its lifespan and the outlook for a year end rally are looking less robust ✔ 11/12/13 Photo by USA TODAY [Via MerlinFTP Drop](Photo: XXX) Can flipping a page on the calendar resurrect the fading Wall Street bull ✔ In the past 20 years, November has been the third-best month for the Dow Jones Industrial Average, with average gains of 1.87 percent
10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, AAPL, SBUX) | Markets Insider
11/2/2018, 11:31:41 AMundefined ✔ Reuters/Kim Hong-Ji Here is what you need to know ✔ The tech giant reported earnings and revenue that topped Wall Street estimates, but iPhone sales missed expectations as they were essentially flat versus a year ago ✔ Alibaba, Chevron, and ExxonMobil are among the names reporting ahead of the opening bell, while Berkshire Hathaway is set to release its quarterly results after markets close
10 things you need to know before the opening bell
11/2/2018, 11:00:10 AMThis is what traders are talking about. ✔ People make traditional Korean side dish kimchi, or fermented cabbage, during the Seoul Kimchi Festival in central Seoul, South Korea ✔ The tech giant reported earnings and revenue that topped Wall Street estimates, but iPhone sales missed expectations as they were essentially flat versus a year ago
Futures higher on trade deal optimism; jobs data in focus
11/2/2018, 11:47:25 AMU.S. stock index futures pointed to a fourth day of gains for Wall Street on Fri... ✔ The report, due at 8:30 a.m. ET (1230 GMT), is also forecast to show the unemployment rate steady at a 49-year low of 3.7 percent ✔ Sustained labor market strength could ease fears about the economy’s health following weak housing data and stalling business spending ✔ Our Standards:The Thomson Reuters Trust Principles
'$600 bil. exports could be illusion'
11/2/2018, 8:45:52 AMundefined ✔ Vehicles are lined up for export at Pyeongtaek Port in Gyeonggi Province, in this file photo ✔ Given the time required for shipping _ around 45 days _ exporting after mid-November will likely be slapped with various duties ✔ China reaped a record trade surplus of $34.13 billion with the U.S. in September
Singapore and Malaysia shares rise on US-China trade talk hopes
11/2/2018, 11:10:44 AMLenders in Malaysia slip after budget, GDP estimates, while Singapore banks climb ✔ Malaysian banking stocks CIMB Group Holdings and RHB Bank fell 0.4% and 1.1% in Kuala Lumpur on Friday, respectively ✔ The earnings missed expectations, dampened by weaker performance of associates and higher expenses, analysts at UOB Kay Hian wrote in a note
Yen falls, Aussie dollar gains as U.S.-China trade angst eases
11/2/2018, 9:46:51 AMThe safe haven yen slipped and the Australian dollar extended its rally on Friday as an apparent de- ✔ Market participants were awaiting the U.S. jobs report due at 1230 GMT for clues on the pace of further interest rate rises in the United States ✔ Worries about Chinese economic growth and the trade row had pushed the offshore yuan to a 22-month trough of 6.9800 midweek
Emerging market investors can tolerate more risk after correction
11/2/2018, 8:36:15 AMundefined ✔ In 2017, EMs had their first decent year for some time, he said ✔ Sonja Gibbs, senior director at the IIF, says the size of this year’s correction has been such that a good chunk of the risk has been taken out of EM debt, especially on the local currency side ✔ Other considerations may help the bond market to stay buoyant ✔ People will look at what they are getting in the rest of the world, he adds, and they’ll say, you know what
As the credit cake collapses, this is where investors should put their dough
11/2/2018, 11:25:24 AMOur call of the day talks about a collapsing credit cake and where that will eventually drive investors, if they are paying attention. ✔ Read: Why emerging markets haven’t really recovered since the summer selloff The chart Reformed Broker’s Josh Brown highlighted this chart on his recently, and it makes the cut as our chart of the day ✔ We Want to Hear from You Join the conversation Comment
Trump Hints at a Trade Deal With China—But Some See It as a Midterm Ploy
11/2/2018, 10:51:33 AM“I don’t buy the story for a second." ✔ Chang Shu, Chief Asia Economist at Bloomberg Economics The telephone conversation on Thursday was Trump and Xi’s first publicly disclosed call in six months ✔ If a Trump-Xi deal at the G-20 Summit can set the broad framework for renewed bilateral trade negotiations it may help the global trading system avert the abyss of an escalating US-China trade war in 2019, said Rajiv Biswas, Asia Pacific chief economist at IHS Markit in Singapore
The New Global Tinderbox: This Is Not You Mother's Cold War
11/2/2018, 10:48:40 AMWhen it comes to relations between Donald Trump’s America, Vladimir Putin’s Russia, and Xi Jinping’s China, observers everywhere are starting to talk about a return to an all-too-familiar past. ✔ In other words, for China, this is no mere competitive challenge but a potentially existential threat to its future status as a great power ✔ We’re going to terminate the agreement and we’re going to pull out ✔ Yes, but only if preventing it becomes a central, common objective of our moment
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