US Stock Futures Tumble as Trump Signals More China Tariffs
US Stock Futures Tumble as Trump Signals More China Tariffs
S&P 500 eyes best three-day gain since Trump's election
07 April, 2018, 06:16
"In light of China's unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs", Trump said in a statement released by the White House.
Stocks took another deep dive Friday, as fears of a global trade war continued to escalate in the wake of President Trump's threat to slap China with another $100 billion worth of tariffs.
The new tariffs will reportedly target Chinese robotics, communication technology and information tech.
The Dow Jones industrial average dropped 572 points, or 2.3%, landing at 23,933 points, a 10% drop from its record high in January. Caterpillar fell 2.1 percent and Deere dropped 1.2 percent.
White House press secretary Sarah Huckabee Sanders, meanwhile, praised the President for strengthening the USA economy, ignoring a Labor Department report noting that only 103,000 jobs were added in March, falling short of the 185,000 that economists had predicted.
"Any escalation in the trade war rhetoric would be more negative for China than the US given the former's relative dependency on trade but for now, the markets are focused on the payrolls data", said Richard Falkenhall, a senior currency strategist at SEB in Stockholm.
Shares of Boeing, the single largest US exporter to China, fell 2.4 percent, leading the losses among big USA manufacturers. The president's top economic adviser said the US and China are holding "back-channel discussions" to resolve an escalating trade dispute that has unsettled global financial markets.
Bond prices rose, sending yields lower.
Benchmark U.S. crude dropped $1.48, or 2.3 percent, to $62.06 a barrel in NY while Brent crude, used to price worldwide oils, lost $1.22, or 1.8 percent, to $67.11 per barrel in London. The lower yields mean banks can't make as much money from lending, and that send bank stocks lower. Heating oil lost 2 cents to $1.96 a gallon.
Apple skidded $3.46, or 2 per cent, to $169.34 and Cisco Systems declined 98 cents, or 2.4 per cent, to $40.84.
Gold rose $7.60 to $1,336.10 an ounce. Copper fell 2 cents to $3.06 a pound.
Average hourly earnings are expected to have risen 0.2 percent last month after edging up 0.1 percent in February.
Against the yen, which as a safe haven currency tends to be among the most sensitive to global economic uncertainty, the dollar was flat.
The firm has a market capitalization of $89,483.93, a price-to-earnings ratio of 55.36, a P/E/G ratio of 2.46 and a beta of 1.28. BTIG Research cut shares of PayPal from a "buy" rating to a "neutral" rating in a research note on Thursday , February 1st.
ATR remains at 0.15 while Beta component of the stock stands at "Beta". 50-SMA is used by traders to measure mid-term trends. A Beta is an evaluate the volatility, or systematic risk, of a security or a portfolio in contrast to the market as a whole.
The company is showing signs of making a comeback, as competitors are forced to merge and consolidate in order to survive. The industry can be broken down further between mobile gambling and desktop gambling (which includes laptops and PCs).
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Howe & Rusling Inc decreased its stake in Abbvie Inc ( ABBV ) by 4.04% based on its latest 2017Q4 regulatory filing with the SEC. Armstrong Henry H Associates Incorporated stated it has 0.41% of its portfolio in AbbVie Inc . (NYSE: ABBV ) for 108,567 shares.
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Trump and Chinese President Xi Jinping speak to each other, as well as high-ranking figures from both governments, he added. One silver lining: American automakers that import electric vehicle batteries from China were spared from the US tariffs.
Retailers have been struggling to compete with online retailers like Amazon, and suffering from the death of the mall. Nine West Holdings, which owns the Nine West and Anne Klein brands, has filed for bankruptcy .
Mental health Generally, once you get into these escape rooms, you donât get out the way you were before you got in. Getting unstuck from a rut If you are always too engulfed in your routine, one day you will want to do something different.
Shares of International Business Machines Corporation ( NYSE : IBM ) have seen the needle move -0.06% in the most recent session. International Business Machines Corporation ( NYSE : IBM ) has declined 12.58% since April 6, 2017 and is downtrending.
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Jordan Matthews reportedly signing with the Patriots
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