Friday, 16 November, 2018

China trade war escalates

Donald Trump Xi Jinping Report Trump Planning to Hit Remaining $267 Billion of Chinese Imports with Tariffs if Xi Talks Fail The Associated Press 29 Oct 2018
Orlando Vargas | 01 November, 2018, 20:16

The S&P 500 Index twice erased gains that topped 1 percent before finally securing a rebound in the final hour of trading.

US-China Business Council senior vice president Erin Ennis said that it would not be a surprise to see Trump move towards announcing more tariffs, given his repeated threats to do so.

The Nasdaq composite sank 116.92 points, or 1.6 percent, to 7,050.29. The effects could be especially severe for technology companies, which make many of their products in China, and for industrials.

Both Trump and Xi are expected to attend next month's G20 summit in Buenos Aires, where they could meet.

China's ambassador to the USA said on Tuesday that the "goodwill" and "wisdom" of the Chinese and American people would carry the countries through a tense period in their relations, and that "we have heard enough" of trade war threats and territorial sabre rattling. Still, the index is down almost 9 percent for the month. But she said the group, representing United States companies doing business in China, was urging both sides to better use the time before the Trump-Xi meeting to figure out how progress can be made on substantive issues. He said 70 percent of voters opposed the $13 billion project. Trade-sensitive industrial shares rose almost 1.2 per cent in mid-morning trading. Stocks climbed earlier this month after Bolsonaro led the previous round of voting, as investors preferred him to leftist parties.

U.S. West Texas Intermediate (WTI) crude futures fell 94 cents to $66.10 a barrel, a 1.4-per-cent decline.

The Nasdaq 100 rose 1.4 percent.

Tyler Perry Reveals He's Killing "Madea" Character In 2019
"I'm happy to kill that old bitch, I'm exhausted , man", Perry said on Bevy Smith's SiriusXM show "Bevelations" on Monday. Since then, Madea has appeared in numerous sequels, including " Madea's Family Reunion" and " Madea Goes to Jail ".


Lewis Hamilton captures 5th Formula One title
I did pay attention in maths so I knew the numbers! "It was a terrible race", Hamilton said. I'll let Gasly drive it, I'm done with it". "You've got to race it like normal".


Australian mare Winx wins record fourth Cox Plate
Waller says Australia's favourite horse will be sent for a spell with staff keeping a very close eye on her. But, when asked how she pulled up, Chris Waller tells Alan Jones his horse is doing just fine.


The yield on 10-year Treasuries gained two basis points to 3.11 percent. Heating oil fell 0.8% to $2.28 a gallon.

General Electric Co, however, fell almost 9 percent.

Gold lost 0.7 percent to $1,227.60 an ounce.

The Stoxx Europe 600 Index failed to sustain momentum from Asia - it opened higher after good earnings for BP and Volkswagen, but corporate results were mixed overall before ending little changed.

The dollar rose to 112.35 yen from 111.85 yen. Hong Kong's Hang Seng bucked the trend, slipping 0.9 percent to 24,585.53.

Information for this article was contributed by Marley Jay of The Associated Press, by Thomas Heath of The Washington Post, and by Jeremy Herron and Sarah Ponczek of Bloomberg News.

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