Trade Tensions Weigh on Markets

Trade Tensions Weigh on Markets

The only big victor of the day was the British pound which surged to seven-month highs versus the dollar ahead of Thursday's election, which the ruling Conservatives are expected to win comfortably.

The MSCI Asia Pacific Index decreased 0.2%.

The Fed is expected to leave rates unchanged at its two-day policy meeting, which ends Wednesday.

European companies in China "have effectively negated the tariff effects in a relatively short space of time", said EU Chamber of Commerce in China president Joerg Wuttke.

American and Chinese negotiators have signaled that they may be drawing closer to agreeing on phase one of a broader accord that would resolve the trade dispute, with the sides in nearly "around-the-clock" talks, White House economic adviser Larry Kudlow said.

The U.S. and China are working toward postponing tariffs on $165 billion of Chinese goods that are set to kick in on December 15, according to officials on both sides.

"We're having very good discussions on intellectual property and it's more than just the theft", said Ross.

White House economic adviser Larry Kudlow said the 15 December deadline for a fresh wave of tariffs (on some $156 billion of China's remaining exports to the US) is still in place. Germany's DAX fell 1.44% to its lowest in a week.

A report from the South China Morning Post should have us markets poised for a strong Tuesday - though, the major three USA indexes were all down in premarket and through the first half-hour or so of trading this morning.

Oil prices retreated but hovered near recent peaks after OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020.

Australian shares were down 0.34%.

Beijing wants a prompt settlement of its trade war with Washington, according to a Chinese official. Exports to some other countries including France rose, helping to offset the loss.

Chinese customs officials say the country's total value of trade with the United States shrank in November from the same month a year ago.

Pork stocks declined broadly after a surge in pork prices accelerated China's consumer inflation in November.

That would tell investors "they have yet again been taken down the trade talk garden path only to end up at the cliff edge of trade war purgatory".

The British pound rose to a new seven-month high of $1.3180 as investors raised their bets on a Conservative Party victory and majority in parliament in Thursday's general election. Investors sitting on the sidelines would have no reason not to get back into the market.

On Tuesday, the US two-year yield, watched as a sign of market expectations of Fed fund rates, was at 1.6152 per cent, down from its close of 1.627 per cent on Monday.

Related Articles

  • South Florida finalizing deal with Clemson's Jeff Scott

    South Florida finalizing deal with Clemson's Jeff Scott

    The person spoke to The Associated Press on condition of anonymity Monday because an agreement has not yet been reached. Jeff Scott was hired as wide receivers coach by Clemson in 2008 and quickly became recruiting coordinator, too.
    Giants' Manning to start on MNF

    Giants' Manning to start on MNF

    Manning will see his first game action since posting a 29.8 QBR and being pulled as the team's starter following Week 2. NY will play early Sunday afternoon games over the last three weeks of 2019.

    No single e-cigarette brand linked to vaping-related lung injuries — CDC

    Preliminary data indicate hospitalizations peaked in mid-September and have been declining since, officials said. Illicit vaping cartridge makers should buy the empty packages after which fill them with no matter they select.
  • Badgers will play OR  in Rose Bowl

    Badgers will play OR in Rose Bowl

    The College Football Playoff committee got together Saturday night to prepare their final set of rankings for the 2019 season. The game will be a rematch of the 2012 Rose Bowl, where the Ducks beat the Badgers on three Darron Thomas touchdowns.
    Saudi Aramco IPO to raise $25.6 bil

    Saudi Aramco IPO to raise $25.6 bil

    The IPO values Aramco at $1.7tn - short of its $2tn target, but making it the most valuable listed company on earth. Three years after it was first announced Saudi Arabia is finally taking the world's most profitable company public.
    'My best year' ever, says Lewis Hamilton

    'My best year' ever, says Lewis Hamilton

    The future of Mercedes boss Toto Wolff could be a key factor in whether he decides to continue with the team post-2020. I know there are other possibilities of course after next year. "I use 44 on my auto , I never use number one".
  • Chinese Government Phasing Out Foreign Hardware, Software

    Chinese Government Phasing Out Foreign Hardware, Software

    China's homemade operating systems, such as Kylin OS, have a much smaller ecosystem of developers producing compatible software. On the same grounds, the White House pressured its allies in Europe and beyond to deny Huawei entrance to their 5G networks.
    Chelsea boss Lampard declares Rudiger ready for Lille

    Chelsea boss Lampard declares Rudiger ready for Lille

    "He's a good defender, it's good to have him back and he's training really well ", said Lampard, of Rudiger. Lampard admitted it is "potentially difficult" for Rudiger to return.
    'No political bias' in Federal Bureau of Investigation  probe of Trump campaign

    'No political bias' in Federal Bureau of Investigation probe of Trump campaign

    But Priestap told the inspector general that he declined to brief the Trump campaign for fear of compromising the investigation. Steele's main dossier source disagreed with anti-Trump assertions in his dossier after it was posted online in January 2017.
  • Taylor Swift announces new Christmas single

    Taylor Swift announces new Christmas single

    Feigning doubt - acting like she didn't have a music video all lined up - she asked her three fluffy cats whether to release it. The music video features footage from home videos from around the holidays of Swift growing up on the farm in Wyomissing.
    Chiefs get gear after it's mistakenly sent to New Jersey

    Chiefs get gear after it's mistakenly sent to New Jersey

    If team can not get the equipment to the proper place before the game starts, they will be forced to forfeit. Folk worked out for the Patriots on Friday and is now set to kick in Sunday's game against the Chiefs .
    Merkel at Auschwitz: Remembering Nazi crimes inseparable from German identity

    Merkel at Auschwitz: Remembering Nazi crimes inseparable from German identity

    But also tens of thousands of others were killed there, including Poles, Soviet prisoners of war and Roma or Gypsies. But none has visited since, and this first visit by a chancellor for 24 years is being viewed as highly symbolic.