Sterling jumps after EU negotiator Barnier says Brexit deal is still possible this week

Sterling rose sharply against the dollar Tuesday after optimistic comments on Brexit from EU negotiator Michel Barnier. He added that “any agreement must work for everyone,” saying it is “high time to turn good intentions into a legal text.” Traders have been on edge as the Brexit deadline of Oct. 31 approaches and there’s still no clear agreement for how the U.K. will leave the European Union. Last week, the U.K. and the EU seemingly drew closer when it came to their long-standing differences o


Sterling rose sharply against the dollar Tuesday after optimistic comments on Brexit from EU negotiator Michel Barnier. He added that “any agreement must work for everyone,” saying it is “high time to turn good intentions into a legal text.” Traders have been on edge as the Brexit deadline of Oct. 31 approaches and there’s still no clear agreement for how the U.K. will leave the European Union. Last week, the U.K. and the EU seemingly drew closer when it came to their long-standing differences o
Sterling jumps after EU negotiator Barnier says Brexit deal is still possible this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: silvia amaro
Keywords: news, cnbc, companies, sterling, negotiator, week, johnson, barnier, agreement, work, difficult, deal, possible, hard, brexit, luxembourg, jumps, minister


Sterling jumps after EU negotiator Barnier says Brexit deal is still possible this week

Sterling rose sharply against the dollar Tuesday after optimistic comments on Brexit from EU negotiator Michel Barnier.

“Our team(s) are working hard, and work has just started now today, this work has been intense over the weekend and yesterday, because even if the agreement will be difficult, more and more difficult, to be frank, it is still possible this week,” Barnier told reporters in Luxembourg on Tuesday morning.

He added that “any agreement must work for everyone,” saying it is “high time to turn good intentions into a legal text.”

Traders have been on edge as the Brexit deadline of Oct. 31 approaches and there’s still no clear agreement for how the U.K. will leave the European Union.

U.K. Prime Minister Boris Johnson made fresh proposals earlier this month to overcome differences over the controversial Irish backstop — an insurance policy that is meant to protect the EU’s single market (an economic area with the same rules and standards) without imposing a hard border between the Republic of Ireland and Northern Ireland.

Last week, the U.K. and the EU seemingly drew closer when it came to their long-standing differences over the issue when Johnson agreed that there could not be a customs border on the island of Ireland.

Stef Block, the Dutch foreign affairs minister, said at his arrival in Luxembourg Tuesday that the U.K. has taken some steps, “but not enough to guarantee the integrity of the (EU) common market.”

“We still have time to avoid a no deal and we should use this time,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: silvia amaro
Keywords: news, cnbc, companies, sterling, negotiator, week, johnson, barnier, agreement, work, difficult, deal, possible, hard, brexit, luxembourg, jumps, minister


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US futures point to a slightly higher open

U.S. stock index futures were slightly higher Tuesday morning, as traders look ahead to a new earnings season. ET, Dow futures rose 55 points, indicating a positive open of more than 57 points. Futures on the S&P and Nasdaq were both marginally higher. “I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said Monday. United Airlines and Interactive Brokers will also release earnings after the bell.


U.S. stock index futures were slightly higher Tuesday morning, as traders look ahead to a new earnings season. ET, Dow futures rose 55 points, indicating a positive open of more than 57 points. Futures on the S&P and Nasdaq were both marginally higher. “I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said Monday. United Airlines and Interactive Brokers will also release earnings after the bell.
US futures point to a slightly higher open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: silvia amaro
Keywords: news, cnbc, companies, mnuchin, futures, open, earnings, release, trade, place, slightly, deal, point, tariffs, points, higher


US futures point to a slightly higher open

U.S. stock index futures were slightly higher Tuesday morning, as traders look ahead to a new earnings season.

At around 01:40 a.m. ET, Dow futures rose 55 points, indicating a positive open of more than 57 points. Futures on the S&P and Nasdaq were both marginally higher.

Overall, market players are monitoring developments on the trade front. U.S. Treasury Secretary Steven Mnuchin told CNBC that tariffs will go up in December if there is no deal in place with China.

“I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said Monday.

Furthermore, the U.S. has also decided to stop trade negotiations with Turkey and raised its steel prices to 50%. The decision followed an earlier U.S. announcement to remove all U.S. troops from the northern border of Syria with Turkey.

Investors are also looking ahead to a new earnings season. BlackRock, Citigroup, Goldman Sachs, Wells Fargo and J.P. Morgan Chase are set to release their latest performance numbers before the bell. United Airlines and Interactive Brokers will also release earnings after the bell.

On the data front, the Empire State manufacturing figures are due to be released at 08:30 a.m. ET.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: silvia amaro
Keywords: news, cnbc, companies, mnuchin, futures, open, earnings, release, trade, place, slightly, deal, point, tariffs, points, higher


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Marc Benioff was pushing for Salesforce to buy Twitter — until an accident changed his mind

Three years ago, Salesforce took a serious look at buying social media giant Twitter. But the actual decision was driven in part by a personal experience, Benioff reveals in his new book, “Trailblazer.” He had a vision that Twitter could integrate well into Salesforce’s business, becoming a great way for his customers to reach their consumers. Then, as he was heading to a meeting to begin to secure financing for the deal, Benioff slipped on a curb and sliced his leg open. WATCH: Benioff says sto


Three years ago, Salesforce took a serious look at buying social media giant Twitter. But the actual decision was driven in part by a personal experience, Benioff reveals in his new book, “Trailblazer.” He had a vision that Twitter could integrate well into Salesforce’s business, becoming a great way for his customers to reach their consumers. Then, as he was heading to a meeting to begin to secure financing for the deal, Benioff slipped on a curb and sliced his leg open. WATCH: Benioff says sto
Marc Benioff was pushing for Salesforce to buy Twitter — until an accident changed his mind Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: matt rosoff, https, wwwlinkedincom in mattrosoff
Keywords: news, cnbc, companies, pushing, leg, vision, buy, changed, homeless, twitter, stockholders, stakeholder, took, salesforce, deal, social, marc, benioff, accident, mind


Marc Benioff was pushing for Salesforce to buy Twitter — until an accident changed his mind

Three years ago, Salesforce took a serious look at buying social media giant Twitter.

In the end, CEO Marc Benioff decided to pull out of the deal. He said at the time that Salesforce stockholders had made it very clear that they didn’t want the company to pursue the acquisition.

But the actual decision was driven in part by a personal experience, Benioff reveals in his new book, “Trailblazer.”

He had a vision that Twitter could integrate well into Salesforce’s business, becoming a great way for his customers to reach their consumers. A lot of his advisors were against the idea, saying it would be too complicated and risky. He kept pushing forward anyway.

Then, as he was heading to a meeting to begin to secure financing for the deal, Benioff slipped on a curb and sliced his leg open.

He took it as a sign that he should think twice. He recounted the circumstances in a recent phone interview:

“I slipped on the sidewalk and split my leg, and had other problems with my knee,” Benioff said. “As I had blood dripping down my leg as I was pitching the bond-rating firms, [I was] thinking to myself, ‘Is this a sign?’ Maybe I shouldn’t be moving in this direction. But I so strongly loved my vision of what it could become. Eventually our investors, who are a key stakeholder of mine, they said no, we don’t really want you to move in this direction.”

Benioff has been a huge critic of social media company Facebook, comparing it to cigarettes because the platform uses technology to make it hard to quit. He acknowledged that Twitter has similar problems — “Hopefully they’re cleaning it up.”

He also criticized CEO Jack Dorsey for his refusal to support Proposition C, which imposes a tax on wealthy San Francisco companies to raise more funds for fighting homelessness. (It passed with less than the two-thirds majority necessary to avoid a legal battle, and is now in the courts.)

“Jack Dorsey was quite against Prop C and helping the homeless, even though between Twitter and Square, they’ve created between 50 and 60 billion dollars of market cap — or maybe more now [Ed: it’s actually around $55 billion as of Monday afternoon] — they were not supporting the major homeless NGOs and major homeless programs. They still aren’t.”

He adds, “When you’re in San Francisco, you and I know that if your stakeholder is not the homeless, I don’t know who is.”

WATCH: Benioff says stockholders were very clear on Twitter deal


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: matt rosoff, https, wwwlinkedincom in mattrosoff
Keywords: news, cnbc, companies, pushing, leg, vision, buy, changed, homeless, twitter, stockholders, stakeholder, took, salesforce, deal, social, marc, benioff, accident, mind


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Vague US-China deal fails to ‘clear the air’ for companies to start spending and investing again

While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance. Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted that it “focused on the low-hanging fruit, with a lot vague or not addressed.” Before Chinese President Xi Jinping signs the “phase one” trad agreement, the nation’s negotiators want to add more


While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance. Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted that it “focused on the low-hanging fruit, with a lot vague or not addressed.” Before Chinese President Xi Jinping signs the “phase one” trad agreement, the nation’s negotiators want to add more
Vague US-China deal fails to ‘clear the air’ for companies to start spending and investing again Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michael sheetz
Keywords: news, cnbc, companies, early, investing, deal, companies, clear, spending, start, round, vague, told, tariffs, chinese, uschina, president, air, fails, trade, phase, suisse


Vague US-China deal fails to 'clear the air' for companies to start spending and investing again

While President Donald Trump says he has a trade deal in place, the Chinese side is calling it progress – as corporate spending and investment hangs in the balance.

Wall Street analysts were largely skeptical of Trump’s announcement on Friday of a substantial trade deal, as Evercore ISI strategists noted that it “focused on the low-hanging fruit, with a lot vague or not addressed.”

“Overall, we don’t think this Phase 1 deal clears the air for global corporations to decide on what matters most – where to invest, produce, hire or source,” Evercore said in a note to investors.

China’s trade negotiators want to meet for more talks in the next couple of weeks, people familiar with the matter told CNBC’s Kayla Tausche on Monday. Before Chinese President Xi Jinping signs the “phase one” trad agreement, the nation’s negotiators want to add more detail.

Credit Suisse doubts this “mini-deal” will lead to the end of the U.S. trade war with China, saying it sees “daunting obstacles” to a full resolution. But Credit Suisse does see some good news in the early agreement.

“We believe it sets a floor for markets for at least the next 1-2 months,” Credit Suisse analysts Dan Fineman and Kin Nang Chik said.

Goldman Sachs chief economist Jan Hatzius told investors that, although the scope of the early agreement “looks roughly as expected,” the U.S. has yet to announce a decision regarding the Dec. 15 increased tariffs on Chinese goods. The Dec. 15 tariffs will be part of the next round of negotiations.

“At this point we continue to expect implementation of that tariff round … though likely with a delay into early 2020,” Hatzius said.

Treasury Secretary Steven Mnuchin told CNBC on Monday that if China doesn’t sign the phase one of the deal, then the tariffs scheduled for December will take effect.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michael sheetz
Keywords: news, cnbc, companies, early, investing, deal, companies, clear, spending, start, round, vague, told, tariffs, chinese, uschina, president, air, fails, trade, phase, suisse


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Trump needs more than a ‘phase one’ US-China trade deal to boost 2020 odds, GOPers say

President Donald Trump has hailed the partial trade agreement with China as the “greatest and biggest deal ever made for our Great Patriot Farmers.” And Trump will need a better one if he hopes to use it to boost his reelection odds, according to Republican and Democratic strategists. Only a real resolution of the trade war, not a sweet sounding press release, will matter,” Sabato said. The trade war between the U.S. and China has been particularly damaging to states dominated by farm and manufa


President Donald Trump has hailed the partial trade agreement with China as the “greatest and biggest deal ever made for our Great Patriot Farmers.” And Trump will need a better one if he hopes to use it to boost his reelection odds, according to Republican and Democratic strategists. Only a real resolution of the trade war, not a sweet sounding press release, will matter,” Sabato said. The trade war between the U.S. and China has been particularly damaging to states dominated by farm and manufa
Trump needs more than a ‘phase one’ US-China trade deal to boost 2020 odds, GOPers say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: tucker higgins
Keywords: news, cnbc, companies, trump, trade, war, wall, boost, say, phase, odds, deal, agreement, needs, gopers, republican, voters, think, uschina, white


Trump needs more than a 'phase one' US-China trade deal to boost 2020 odds, GOPers say

President Donald Trump, right, shakes hands with Liu He, China’s vice premier, during a meeting in the Oval Office of the White House in Washington, D.C., on Friday, Oct. 11, 2019.

President Donald Trump has hailed the partial trade agreement with China as the “greatest and biggest deal ever made for our Great Patriot Farmers.”

The unwritten agreement, announced on Friday after high-level talks between the two superpowers, has so far been described only in vague terms, and is expected to come in phases. And Trump will need a better one if he hopes to use it to boost his reelection odds, according to Republican and Democratic strategists.

“Trump won the big three (MI PA WI) by a grand total of 77,000 votes. It doesn’t take much of a shift to reverse that,” Larry Sabato, a leading elections analyst and director of the Center for Politics at the University of Virginia, said in an email, referring to Michigan, Pennsylvania and Wisconsin.

“As the old saying goes, you can’t eat hope. Only a real resolution of the trade war, not a sweet sounding press release, will matter,” Sabato said.

The trade war between the U.S. and China has been particularly damaging to states dominated by farm and manufacturing economies, where the president’s 2016 margin was in some places thin. State polls show that his standing in those states, which include Michigan, Pennsylvania and Wisconsin, has soured since he took office. Trump, however, remains the favorite for 2020 in betting markets.

According to the White House, phase one will be written over the next few weeks and will include Chinese purchases of up to $50 billion in American agricultural goods. So far, though, Wall Street analysts and Chinese state media have been skeptical about the prospects that the deal will move the countries closer to an effective truce in their damaging trade war, which has rattled markets and threatened global growth.

Republican strategists and experts also agree that more is needed. Until the trade agreement wins over Wall Street and the broader business community, it’s unlikely to matter to everyday voters who generally vote based on economic conditions, they said.

“This trade deal is being sold as something that will help America and the economy. It needs to do all those things,” said Matt Gorman, a former communications director for the National Republican Congressional Committee. “It’s more about the outcome than the process.”

Carlos Curbelo, a Republican former congressman from Florida, said he expected few voters will look at the details of the deal itself. But, he said, they will be paying attention to what happens to unemployment numbers and the balances of their 401(k) retirement accounts. On that front, he said, he was skeptical.

“I don’t think this partial agreement is enough, because it does not provide the economy and the markets the long-term certainty that they seek,” Curbelo said. “There was some early optimism and enthusiasm, but I think as more details emerge, we are seeing that early energy start to wane.”

Markets initially soared on news of the trade deal before losing much of their gains in short order after Treasury Secretary Steven Mnuchin told CNBC on Monday that tariffs slated for December will still go into effect without another agreement. Friday’s deal also left in place tariffs from September on a broad range of Chinese-made consumer items.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: tucker higgins
Keywords: news, cnbc, companies, trump, trade, war, wall, boost, say, phase, odds, deal, agreement, needs, gopers, republican, voters, think, uschina, white


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With trade agreement in doubt, five experts share what to watch now

Chinese officials are reportedly seeking further discussions with the U.S. on trade before they sign “phase one” of a deal announced last week. Simeon Hyman, global investment strategist at ProShares Advisors, says trade progress could be the last bit of good news for a while. “I think the trade deal is probably the only real source of upside in the near term because I don’t think we’re going to have a great earnings season. “If you look at this trade deal, it’s probably a political win for both


Chinese officials are reportedly seeking further discussions with the U.S. on trade before they sign “phase one” of a deal announced last week. Simeon Hyman, global investment strategist at ProShares Advisors, says trade progress could be the last bit of good news for a while. “I think the trade deal is probably the only real source of upside in the near term because I don’t think we’re going to have a great earnings season. “If you look at this trade deal, it’s probably a political win for both
With trade agreement in doubt, five experts share what to watch now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: keris lahiff
Keywords: news, cnbc, companies, doubt, earnings, trade, think, experts, deal, global, agreement, know, going, share, bit, probably, china, watch


With trade agreement in doubt, five experts share what to watch now

Stocks are in a holding pattern to begin the week as doubts are raised over how much progress was made between the U.S. and China on Friday.

Chinese officials are reportedly seeking further discussions with the U.S. on trade before they sign “phase one” of a deal announced last week.

Five experts weigh in on what they’re watching right now.

Simeon Hyman, global investment strategist at ProShares Advisors, says trade progress could be the last bit of good news for a while.

“I think the trade deal is probably the only real source of upside in the near term because I don’t think we’re going to have a great earnings season. We have banks reporting this week. You know, it’s been a tough environment for banks — deal volume is slowing a little bit, and the yield curve was inverted up until just a week or so ago — so I don’t think you’re going to get a big impetus from the earnings side. But we certainly know politically, a win on that front sometime as we approach more of the height of the election season is not a terrible thing to bank on.”

William Foster of Moody’s Investors Service says this gave the U.S. and China some breathing room before they move forward.

“It’s a step forward, but it’s, you know, we can’t expect too much, and obviously you’re seeing that right now from China. This basically buys more time for the two sides to try to come to some kind of agreement on some of the core issues, and that will just give the market more time to kind of digest.”

Sameer Samana, senior global market strategist at Wells Fargo Investment Institute, is playing it cautiously for the rest of the year.

“If you look at this trade deal, it’s probably a political win for both sides, which were in need of such a win. Unfortunately, it just doesn’t mean a whole lot for S&P earnings. It probably doesn’t mean a lot for economic data, at least not over the coming months. So from our standpoint, you know, you’ve got good gains in calendar year 2019 even though if you stretch back to Q4 last year they’re not spectacular. We’re still playing it pretty cautiously, so we are underweight small caps, they tend to be lower quality and tend to have fewer levers to pull. We’re also underweight high yield. We think credits are probably a little bit overdone, spreads are very tight. You’re just not getting paid to take that risk. We would take some of those dollars and put them in large caps, because again those are the companies that have probably the most, you know, flexibility in terms of navigating this global environment.”

Art Cashin, director of floor operations at UBS Financial Services, is skeptical much progress was made at all.

“It’s all blue smoke and mirrors. There’s nothing substantive there. I mean, I admire Treasury Secretary [Steven] Mnuchin, and he’s talking about intellectual properties and whatnot. I’m getting different signals from China. They don’t look like they want that to be part of a plan, and they indicate they’re going to take care of it locally. Secondarily, so tomorrow the tariffs were supposed to be raised. If I’m a business, I’ve already traded against that. I knew they were coming up. I bought whatever I wanted back before they were going to get raised, so the impacts are not very strong here.”

Gabriela Santos, global market strategist at J.P. Morgan Asset Management, says it makes sense to keep expectations in check.

“It’s an agreement to postpone the escalation that was planned for tomorrow and to continue talking over the next few weeks. So for us, I think it’s right to temper the enthusiasm a little bit after such a huge rally we had on Friday. It’s not locked down. No. 2, even if we end up having a ‘phase one’ written-down truce, it doesn’t remove the uncertainty cloud going into the election. And No. 3, we have also some late-cycle concerns to think about which should come to the forefront as earnings season picks back up this week.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: keris lahiff
Keywords: news, cnbc, companies, doubt, earnings, trade, think, experts, deal, global, agreement, know, going, share, bit, probably, china, watch


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Beijing is ‘relieved’ by partial trade agreement, says Trump outside advisor on China

The partial trade agreement between the U.S. and China has caused relief among officials in Beijing, one of President Donald Trump’s outside advisors told CNBC on Monday. “I would say they’re relieved more than happy,” said Michael Pillsbury, director of the Center for Chinese Strategy at the Hudson Institute whom Trump has called the “leading authority on China.” In an interview on “The Exchange,” Pillsbury argued that reports that the U.S. would impose punitive measures against China beyond ta


The partial trade agreement between the U.S. and China has caused relief among officials in Beijing, one of President Donald Trump’s outside advisors told CNBC on Monday. “I would say they’re relieved more than happy,” said Michael Pillsbury, director of the Center for Chinese Strategy at the Hudson Institute whom Trump has called the “leading authority on China.” In an interview on “The Exchange,” Pillsbury argued that reports that the U.S. would impose punitive measures against China beyond ta
Beijing is ‘relieved’ by partial trade agreement, says Trump outside advisor on China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, trade, beijing, trump, advisor, pillsbury, outside, agreement, partial, deal, chinese, told, china, theres, relieved, think


Beijing is 'relieved' by partial trade agreement, says Trump outside advisor on China

The partial trade agreement between the U.S. and China has caused relief among officials in Beijing, one of President Donald Trump’s outside advisors told CNBC on Monday.

“I would say they’re relieved more than happy,” said Michael Pillsbury, director of the Center for Chinese Strategy at the Hudson Institute whom Trump has called the “leading authority on China.”

In an interview on “The Exchange,” Pillsbury argued that reports that the U.S. would impose punitive measures against China beyond tariffs may have helped lead to “phase one” of a trade deal.

“I think that may have scared the Chinese that they were going to get into a serious trade war with access to our capital markets being cut off, among other things,” Pillsbury said. “These are very scary options. Obviously, that’s off the table now in the sense that there’s been so much substantial progress on Friday, there’s no need to think about escalation options at this time.”

White House trade advisor Peter Navarro initially told CNBC that stories that said the U.S. was considering restrictions on U.S. investments in China were “fake news.”

Officials from the U.S. and China said Friday they struck an agreement on the first part of a deal to end the long-running trade dispute between the world’s two largest economies.

The deal, which hasn’t been officially signed, is said to include a pledge from China to buy more U.S. agricultural products and address some concerns over intellectual property. The U.S., in return, agreed to suspend a tariff hike planned for this week.

On Monday, CNBC reported that Chinese officials want another round of discussions before signing the “phase one” deal.

In addition to the principal agreement on agricultural purchases, Pillsbury said the part of the deal that would establish a “large office in both Washington and Beijing that would try to adjudicate disputes before they go to enforcement action” was another sign of progress.

“I think it’s wrong to say there’s no progress, but it’s also wrong to say there’s a final deal, open the champagne cork,” Pillsbury said.

Treasury Secretary Steven Mnuchin told CNBC on Monday that he expects to have an agreement in place by mid-December, when another round of tariffs on Chinese goods is set to go into effect.

“I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said on “Squawk Box.”


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, trade, beijing, trump, advisor, pillsbury, outside, agreement, partial, deal, chinese, told, china, theres, relieved, think


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Truce or genuine deal? Analysts question if phase one of US-China trade pact will last

US President Donald Trump shows a letter from Chinese President Xi Jinping as he announces an initial trade deal with China at the Oval Office of the White House in Washington, DC on October 11, 2019. U.S. President Donald Trump has called the phase one trade deal with China “very substantial” — but analysts say it appears to be more of a “temporary truce” than a real deal. They say it doesn’t sufficiently touch on the thorny issues plaguing both sides, and warn that negotiations could break dow


US President Donald Trump shows a letter from Chinese President Xi Jinping as he announces an initial trade deal with China at the Oval Office of the White House in Washington, DC on October 11, 2019. U.S. President Donald Trump has called the phase one trade deal with China “very substantial” — but analysts say it appears to be more of a “temporary truce” than a real deal. They say it doesn’t sufficiently touch on the thorny issues plaguing both sides, and warn that negotiations could break dow
Truce or genuine deal? Analysts question if phase one of US-China trade pact will last Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: weizhen tan
Keywords: news, cnbc, companies, president, temporary, trade, substantial, question, analysts, truce, genuine, deal, pact, trump, phase, sides, uschina, china


Truce or genuine deal? Analysts question if phase one of US-China trade pact will last

US President Donald Trump shows a letter from Chinese President Xi Jinping as he announces an initial trade deal with China at the Oval Office of the White House in Washington, DC on October 11, 2019.

U.S. President Donald Trump has called the phase one trade deal with China “very substantial” — but analysts say it appears to be more of a “temporary truce” than a real deal.

They say it doesn’t sufficiently touch on the thorny issues plaguing both sides, and warn that negotiations could break down again before the phase one agreement is drafted.

The trade dispute between the U.S. and China has gone on for more than a year and after their 13th round of talks last week, Trump said Friday that both sides have reached a phase one deal, and it will be written over the next three weeks.

The U.S. also agreed to suspend a tariff increase on at least $250 billion in Chinese goods to 30% from 25%, which would have taken place on Tuesday. Plans for another hike set to kick in on Dec. 15 remain in place.

“We think the ‘substantial’ first-stage trade deal made by Trump with China looks more like a truce than a genuine deal,” said Christiaan Tuntono, senior economist for Asia Pacific at Allianz Global Investors.

Economists at Macquarie Capital echoed the same view and called it a “temporary truce.”


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: weizhen tan
Keywords: news, cnbc, companies, president, temporary, trade, substantial, question, analysts, truce, genuine, deal, pact, trump, phase, sides, uschina, china


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Here’s what happened to the stock market on Monday

Dow Jones Industrial Average falls 29 pointsThe Dow fell 29.23 points, or 0.11% to close at 26,787.36. Trade deal or no deal? This tempered the market’s enthusiasm after President Donald Trump said Friday that both sides had reached a “very substantial phase one deal.” Adding to the trade-related concerns was Treasury Secretary Steven Mnuchin saying the deal was still “subject to documentation.” He also said a December tariff hike on Chinese products would go through if a deal is not reached.


Dow Jones Industrial Average falls 29 pointsThe Dow fell 29.23 points, or 0.11% to close at 26,787.36. Trade deal or no deal? This tempered the market’s enthusiasm after President Donald Trump said Friday that both sides had reached a “very substantial phase one deal.” Adding to the trade-related concerns was Treasury Secretary Steven Mnuchin saying the deal was still “subject to documentation.” He also said a December tariff hike on Chinese products would go through if a deal is not reached.
Here’s what happened to the stock market on Monday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, happened, upgradeshares, market, wants, worries, heres, upgraded, underperform, trump, deal, phase, stock, dow


Here's what happened to the stock market on Monday

Dow Jones Industrial Average falls 29 points

The Dow fell 29.23 points, or 0.11% to close at 26,787.36. The S&P 500 slipped 0.14% to 2,966.15. The Nasdaq Composite pulled back 0.10% to 8,048.65. The indexes traded in a tight range throughout the session as investors looked ahead to the start of the earnings season while grappling with new worries over trade.

Trade deal or no deal?

A source told CNBC that China wants to have additional talks with the U.S. before signing the first phase of a potential trade deal with the U.S. Bloomberg News first reported the news. This tempered the market’s enthusiasm after President Donald Trump said Friday that both sides had reached a “very substantial phase one deal.” Adding to the trade-related concerns was Treasury Secretary Steven Mnuchin saying the deal was still “subject to documentation.” He also said a December tariff hike on Chinese products would go through if a deal is not reached.

HPE gets boost from upgrade

Shares of Hewlett Packard Enterprise rose more than 4% after an analyst at Evercore ISI upgraded them to in line from underperform, citing an attractive valuation and good cash flow, among other positive catalysts.

What happens next?


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: fred imbert
Keywords: news, cnbc, companies, valuation, happened, upgradeshares, market, wants, worries, heres, upgraded, underperform, trump, deal, phase, stock, dow


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US futures point to slightly higher open after US-China reach partial trade deal

U.S. stock index futures were slightly higher Monday morning, after the U.S. agreed to suspend its next tariff increase on Chinese imports. ET, Dow futures rose 8 points, indicating a positive open of more than 14 points. Market focus is largely attuned to global trade developments, amid signs of progress in the long-running U.S.-China trade dispute. The partial deal — which covers agriculture, currency and some aspects of intellectual property protections — represents the first major step forwa


U.S. stock index futures were slightly higher Monday morning, after the U.S. agreed to suspend its next tariff increase on Chinese imports. ET, Dow futures rose 8 points, indicating a positive open of more than 14 points. Market focus is largely attuned to global trade developments, amid signs of progress in the long-running U.S.-China trade dispute. The partial deal — which covers agriculture, currency and some aspects of intellectual property protections — represents the first major step forwa
US futures point to slightly higher open after US-China reach partial trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: sam meredith
Keywords: news, cnbc, companies, open, trade, futures, work, reach, partial, deal, writtenthe, worlds, points, slightly, trump, agreed, point, uschina, worth, higher


US futures point to slightly higher open after US-China reach partial trade deal

U.S. stock index futures were slightly higher Monday morning, after the U.S. agreed to suspend its next tariff increase on Chinese imports.

At around 03:30 a.m. ET, Dow futures rose 8 points, indicating a positive open of more than 14 points. Futures on the S&P and Nasdaq were both marginally higher.

Market focus is largely attuned to global trade developments, amid signs of progress in the long-running U.S.-China trade dispute.

On Friday, President Donald Trump announced that the first phase of a deal with China had been agreed, though officials on both sides said much more work needed to be done.

The partial deal — which covers agriculture, currency and some aspects of intellectual property protections — represents the first major step forward to end the trade war in 15 months.

However, the deal does not include many details and Trump has warned it could take up to five weeks to get a pact written.

The world’s two largest economies have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: sam meredith
Keywords: news, cnbc, companies, open, trade, futures, work, reach, partial, deal, writtenthe, worlds, points, slightly, trump, agreed, point, uschina, worth, higher


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