US equities tumbled on Tuesday as investors continued dumping tech stocks and buying safe-haven assets. Tech giants including Apple,Microsoft, and Facebook dragged on major indexes, while Treasurys and the dollar gained. Investors also digested President Trump’s plan to end US’s reliance on Chinese exports. The statement threatens to reignite the […]
Summary List Placement The US trade deficit in July swelled to its greatest gap since the 2008 financial crisis, the Commerce department reported Thursday. The US trade deficit, or gap between imports and exports, widened nearly 19% to $US63.6 billion in July from $US53.5 billion in June, according to the […]
The S&P 500 closed at a record high on Tuesday for the first since February amid positive housing-market data and a broad tech rally. Housing starts jumped by 22.6% in July, more than economists expected, showing continued strength in the housing-market recovery. Democrats and Republicans remain deadlocked in negotiations on […]
US stocks edged higher on Tuesday as investors looked for signs of progress on government stimulus and US-China trade talks. Democrats and Republicans remain deadlocked in negotiations on the next stimulus bill, while t he Trump administration on Monday imposed new restrictions on Huawei. Housing starts jumped 22.6% in July, […]
The US and China have postponed a review of their Phase One trade deal that was initially set for Saturday, Reuters reported. Sources familiar with the plans told the news agency that the meeting was postponed due to scheduling conflicts and the need to allow China more time to buy […]
Scott Kennedy of the Centre for Strategic and International Studies, told CNBC’s Squawk Box that China may never catch up with its commitments under the Phase One trade deal with the United States. He said: “If it’s really based on the genuine commitments that they inked in January, they’re far […]
US stocks climbed on Wednesday as investors maintained optimism for a bipartisan stimulus measure. Democrats and the Trump administration hope to reach a deal by the end of the week but remain split on issues including expanded unemployment benefits and aid for state and local governments. Fears of rising US-China […]
US stocks climbed on Wednesday as investors remained hopeful for a stimulus bill breakthrough. Treasury Secretary Steven Mnuchin said Tuesday that Democrats and the Trump administration hope to reach a deal by the end of the week. Fears of rising US-China tensions eased following reports that senior officials from both […]
China said it would impose tit-for-tat sanctions against the US to punish the country for signing the Hong Kong Autonomy Act. The act was signed by Trump late Tuesday, and paves the way for US to punish Chinese entities responsible for imposing the new Hong Kong security law. Trump said […]
The US goods and services deficit – touted by President Trump as the top trade scorecard – widened to $US54.6 billion in May from $US49.8 billion, the Commerce Department announced Thursday. Exports plummeted to $US144.5 billion from $US151.1 billion to hit its lowest level since November 2009. Imports shrank $US1.8 […]
US equities climbed on Tuesday after the White House calmed investor nerves by clarifiying that its trade deal with China remains intact. Futures for major indexes tumbled on Monday evening after White House trade adviser Peter Navarro told Fox News the US-China agreement was “over.” Navarro later walked back the […]
The White House will likely keep its phase-one trade deal with China intact despite escalating tensions between the two countries, a Morgan Stanley economist told CNBC on Friday. The economic superpowers issued a spate of retaliatory measures throughout the week. The Chinese government told businesses to halt some imports of […]
The US trade deficit widened to $US49.4 billion in April from $US42.3 billion as the coronavirus slammed manufacturers and disrupted trade logistics. Exports slid 20.5% through the period to $US151.3 billion, the Commerce Department announced Thursday, marking the metric’s largest decline in data going back to 1992. Imports plunged 13.7%, […]
Airline stocks outperformed Wednesday’s stock market rally after the White House banned Chinese airlines from operating passenger flights to the US starting mid-June. Alaska Air led the group after leaping as much as 12%, while United Airlines followed close behind with an 11.8% climb. American Airlines and Delta Air Lines […]
US stocks traded climbed on Monday as optimism around economic reopenings offset nationwide protests and new trade stresses between China and the US. A key measure of US manufacturing increased in May for the first time in four months, inspiring confidence in an economic recovery. The Chinese government halted the […]
US stocks slid on Monday after the Chinese government ordered a halt of American farm imports. The announcement further inflamed US-China trade tensions and paused a key component of the two nations’ phase-one trade deal. Markets generally ignored nationwide protests against police brutality staged throughout the weekend, only trading lower […]
Most stocks rose in early hours of trading on Monday as investors cheered Trump’s dovish response on Hong Kong but reports that China is halting some soybean purchases from US reversed those gains. Bloomberg reported China has halted purchases of US products including soybeans and pork. On Friday Trump listed […]
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