Retail sales, small business sentiment, and other news affecting your money in the week ahead

Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near. And a monthly survey of small business owners is scheduled for release on Tuesday. Economists forecast a big increase in consumer spendingWhat’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13. Small business owners may feel more optimisticWhat’s happening: A monthly report that measures confidence among small business o


Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near.
And a monthly survey of small business owners is scheduled for release on Tuesday.
Economists forecast a big increase in consumer spendingWhat’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13.
Small business owners may feel more optimisticWhat’s happening: A monthly report that measures confidence among small business o
Retail sales, small business sentiment, and other news affecting your money in the week ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: anna-louise jackson
Keywords: news, cnbc, companies, traders, small, week, sentiment, business, affecting, owners, ahead, report, money, economy, retail, trade, sales


Retail sales, small business sentiment, and other news affecting your money in the week ahead

The record-busting rally in the U.S. stock market has taken a pause. After major benchmarks set several all-time highs in December, the S&P 500 fell nearly 2% in three days before recovering to end the week higher. Experts say trade remains “the biggest risk out there” for the stock market right now, and that’s likely to create some choppiness in the weeks ahead. That’s because there’s a December 15 deadline looming for China and the U.S. to reach a trade deal before additional U.S. tariffs on Chinese goods take effect. The coming week is likely to be busy. House Speaker Nancy Pelosi on Thursday directed the House committees investigating President Donald Trump to proceed with articles of impeachment, and the Judiciary committee is scheduled to hold a hearing Monday morning on the evidence gathered in the inquiry. The Federal Reserve also will meet for its eighth and final time this year on Tuesday and Wednesday. While surprises on either front could rattle traders, pros point out that even big news can be “a nonissue for the market.” Wall Street will be monitoring the all-important retail sales report due on Friday, especially as the holidays draw near. And a monthly survey of small business owners is scheduled for release on Tuesday. Here’s what to watch in the stock market during the week ahead — and how the news could affect your bottom line.

Economists forecast a big increase in consumer spending

What’s happening: The monthly retail sales report for November is scheduled for release on Friday, December 13. This details how much American consumers spent on things like clothing and food. Economists currently forecast the biggest month-over-month increase in spending since August. Last month’s report showed that retail sales rebounded after falling in September, though Americans cut back on buying big-ticket household items. Meanwhile, economists project that another report due Wednesday will show that average hourly earnings ticked up slightly in November. Why it matters: American consumers have been very resilient this year, even amid signs of slowing in the broader economy. Reports in the past week showed that sentiment improved to the second-best number 2019 and consumers are borrowing more money via revolving credit, like credit cards, at rates not seen since July. Traders on Wall Street track the monthly retail sales report closely because consumer spending accounts for more than two-thirds of U.S. economic growth. What it means for you: Perhaps you haven’t made any changes to your shopping habits, but what your neighbors do matters to the overall economy. What’s more, there are less than three weeks until Christmas and the start of Hanukkah — and spending during the all-important holiday shopping season accounts for about 20% of annual retail sales each year, according to the National Retail Federation.

Small business owners may feel more optimistic

What’s happening: A monthly report that measures confidence among small business owners is scheduled for release on Tuesday by the National Federation of Independent Business. This survey looks at 10 different components, like whether business owners plan to hire more workers or spend more money, and how they feel about the economy. Why it matters: Businesses with fewer than 500 workers account for almost half of private sector employment, so traders closely monitor how these business owners feel. A separate poll last week found that optimism about the future of U.S. trade policy helped lift confidence among small business owners, according to the fourth-quarter 2019 CNBC/SurveyMonkey Small Business Survey. Trade has been key to the rebound in sentiment among business owners, so there’s also a risk if China and the U.S. can’t reach a deal before additional tariffs take effect. That means traders will be keen to see if there are any clues about future readings, especially because sentiment this year has been lower, on average, than either 2017 or 2018. What it means for you: Even if you don’t work for a small business, chances are you know someone who does. Hiring plans are good to track because they reveal important clues about the overall health of the U.S. economy. If employers pull back on adding workers to their payrolls, that may make it more difficult for job seekers to find a new position. Last month’s broader jobs report showed that employers added 266,000 jobs, the most since January. The U.S. economy is nearing full employment, meaning almost everyone willing and able to work can. And it’s generally been a good year for workers.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: anna-louise jackson
Keywords: news, cnbc, companies, traders, small, week, sentiment, business, affecting, owners, ahead, report, money, economy, retail, trade, sales


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Trump thanks Iran for releasing American grad student: ‘We can make deal’

Wang was released in Switzerland in exchange for Iranian citizen Massoud Soleimani, who was being held in an Atlanta jail over charges of violating American trade sanctions against Iran. Wang was among at least four other Americans being held in Iran. The swap comes amid growing tensions between Iran and the U.S. and massive protests in Iran. Trump has placed significant economic sanctions on Iran and withdrew from the Obama-era Iran nuclear deal. The White House confirmed the trade on Saturday


Wang was released in Switzerland in exchange for Iranian citizen Massoud Soleimani, who was being held in an Atlanta jail over charges of violating American trade sanctions against Iran.
Wang was among at least four other Americans being held in Iran.
The swap comes amid growing tensions between Iran and the U.S. and massive protests in Iran.
Trump has placed significant economic sanctions on Iran and withdrew from the Obama-era Iran nuclear deal.
The White House confirmed the trade on Saturday
Trump thanks Iran for releasing American grad student: ‘We can make deal’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: emma newburger
Keywords: news, cnbc, companies, administration, trade, releasing, student, trump, deal, white, thanks, held, wang, grad, twitter, american, iran


Trump thanks Iran for releasing American grad student: 'We can make deal'

U.S. President Donald Trump hosts a roundtable discussion with small business owners and members of his administration in the Roosevelt Room at the White House December 06, 2019 in Washington, DC.

President Donald Trump on Saturday thanked Iran for releasing an American graduate student who had been imprisoned in Tehran for over three years on charges of espionage in exchange for a prisoner held in the U.S.

“Taken during the Obama Administration (despite $150 Billion gift), returned during the Trump Administration,” the president wrote on Twitter. “Thank you to Iran on a very fair negotiation. See, we can make a deal together!”

Xiyue Wang, 38, was a Princeton University doctoral student doing research in Iran when he was arrested there in August 2016 and sentenced to 10 years in prison over suspicion of being a spy.

U.S. officials have repeatedly denied that Wang, who was held in Evin Prison on two counts of espionage, was a spy.

Wang was released in Switzerland in exchange for Iranian citizen Massoud Soleimani, who was being held in an Atlanta jail over charges of violating American trade sanctions against Iran. Soleimani was expected to be released as early as January under a plea agreement.

Wang was among at least four other Americans being held in Iran.

The swap comes amid growing tensions between Iran and the U.S. and massive protests in Iran. Trump has placed significant economic sanctions on Iran and withdrew from the Obama-era Iran nuclear deal.

The protests erupted across Iran in November in response to a 50% increase in gas prices. U.S. officials believe the demonstrations have left as many as 1,000 people dead and 7,000 imprisoned, drawing widespread global criticism.

Secretary of State Mike Pompeo said Saturday that “The United States will not rest until we bring every American detained in Iran and around the world back home to their loved ones.”

The White House confirmed the trade on Saturday with a statement from Trump, and Iran’s foreign minister, Mohammad Javad Zarif, also confirmed the deal on twitter.


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: emma newburger
Keywords: news, cnbc, companies, administration, trade, releasing, student, trump, deal, white, thanks, held, wang, grad, twitter, american, iran


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ICE ETF Hub a ‘highway’ for modernizing ETFs: BlackRock

BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom. The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading. The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bon


BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom.
The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading.
The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bon
ICE ETF Hub a ‘highway’ for modernizing ETFs: BlackRock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: annie pei, lizzy gurdus
Keywords: news, cnbc, companies, etfs, bond, market, investors, ice, modernizing, really, trade, trading, cohen, highway, etf, hub, blackrock


ICE ETF Hub a 'highway' for modernizing ETFs: BlackRock

It’s been a big year for ETFs and investment giant BlackRock is aiming to make next year even bigger for the industry.

BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom. The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading.

The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bond ETF trading. In fact, over half of net ETF inflows have gone to bond ETFs in 2019.

“What’s happening is, as lots of asset managers seek to meet the demand of investors to participate in bond ETFs, they’re creating a bunch of, you can think of it as local access roads to create and redeem bond ETFs,” she said Tuesday on CNBC’s “ETF Edge.”

“What the Hub is doing — and it’s really a market utility that has never existed before — is creating a highway to facilitate the manufacturing process for bond ETFs,” she added.

This is particularly relevant given that bond ETF trading, unlike for many ETF groups, has yet to be electronified, another goal Cohen has for the Hub.

“The demand for bond ETFs has really forced the electronification of the bond market because you can’t trade a big portfolio, and some of these ETFs have thousands of bonds,” she explained. “You can’t trade that by voice or over the phone, so you need electronic systems and that has facilitated a huge change in the bond market, broadly.”

Aside from the bond market, Cohen also points to the rising interest in ESG, short for Environmental, Social and Governance ETFs as another group that could drive the ETF industry.

“There’s been a real desire by investors in the U.S., [and that interest] has been there longer in Europe, to combine their investing with their beliefs, and investors are becoming educated in what that means for them,” she said.

Net inflows into U.S.-based ETFs have hit $271 billion this year, making 2019 the second-biggest year on record for the ETF market, according to ETF.com.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: annie pei, lizzy gurdus
Keywords: news, cnbc, companies, etfs, bond, market, investors, ice, modernizing, really, trade, trading, cohen, highway, etf, hub, blackrock


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China’s November foreign exchange reserves fall more than expected amid focus on trade deal

A bank employee counts U.S. currency and Chinese currency notes at a bank on August 6, 2019 in China. China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement. Analysts polled by Reuters had expected China’s reserves, the world’s largest, would fall $4 billion to $3.101 trillion in November. The value of the country’s gold reserves fell to $91.4


A bank employee counts U.S. currency and Chinese currency notes at a bank on August 6, 2019 in China.
China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement.
Analysts polled by Reuters had expected China’s reserves, the world’s largest, would fall $4 billion to $3.101 trillion in November.
The value of the country’s gold reserves fell to $91.4
China’s November foreign exchange reserves fall more than expected amid focus on trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, focus, reserves, foreign, fall, trade, billion, amid, exchange, expected, end, chinas, deal, bank, yuan, months, chinese, trillion


China's November foreign exchange reserves fall more than expected amid focus on trade deal

A bank employee counts U.S. currency and Chinese currency notes at a bank on August 6, 2019 in China.

China’s foreign exchange reserves fell $9 billion in November to $3.096 trillion, central bank data showed on Saturday, as Washington and Beijing remained locked in negotiations over an interim trade agreement.

Analysts polled by Reuters had expected China’s reserves, the world’s largest, would fall $4 billion to $3.101 trillion in November.

Despite the slowing Chinese economy and escalating U.S.-China trade war, its reserves have been gradually rising since late 2018, helped by tight capital controls and rising inflows from foreign investors who are snapping up the country’s stocks and bonds.

Modest changes in reserve levels in recent months have been largely ascribed to fluctuations in global exchange rates and the value of assets that China holds such as foreign bonds.

The yuan has been driven largely by twists and turns in the 17-month long trade war between China and the United States.

After sliding sharply this summer as the dispute suddenly escalated, the yuan rose for three straight months through November on hopes of a trade truce, only to slide again in early December as tensions between Washington and Beijing flared.

Fresh U.S. tariffs on Chinese goods are set to take effect on Dec. 15.

It gained 0.12% against the dollar in November, but remains about 2.3% weaker for the year to date.

The dollar, meanwhile, rose about 1 percent against a basket of other major currencies in November.

The value of the country’s gold reserves fell to $91.47 billion at the end of November from $94.65 billion at the end of October.

China held 62.64 million fine troy ounces of gold at the end of November, unchanged from October.

China’s economic growth cooled to 6.0% in the third quarter, the slowest pace in nearly 30 years, and many economists believe it will decelerate further into the upper 5% range in 2020.

Still, analysts note capital outflows have been modest compared with the last economic downturn in 2015-16, when policymakers burned through roughly $1 trillion in reserves supporting the yuan.

China’s central bank has started to slowly trim interest rates in recent months, and more reductions are expected in coming quarters to avert a sharper slowdown.

But analysts believe those cuts will likely be more gradual and smaller than those in 2015. If so, moves in the yuan are likely to be influenced more by trade developments than policy easing.


Company: cnbc, Activity: cnbc, Date: 2019-12-07
Keywords: news, cnbc, companies, focus, reserves, foreign, fall, trade, billion, amid, exchange, expected, end, chinas, deal, bank, yuan, months, chinese, trillion


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US futures higher ahead of November’s jobs report

U.S. stock index futures were higher on Friday. ET, Dow futures rose 55 points, indicating a positive open of more than 56 points. Futures on the S&P and Nasdaq were both slightly higher. Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump. Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.


U.S. stock index futures were higher on Friday.
ET, Dow futures rose 55 points, indicating a positive open of more than 56 points.
Futures on the S&P and Nasdaq were both slightly higher.
Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.
Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.
US futures higher ahead of November’s jobs report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, higher, goods, jobs, worth, upbeat, futures, tariffs, washington, ahead, novembers, points, report, worlds


US futures higher ahead of November's jobs report

U.S. stock index futures were higher on Friday.

At around 02:15 a.m. ET, Dow futures rose 55 points, indicating a positive open of more than 56 points. Futures on the S&P and Nasdaq were both slightly higher.

Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.

On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade agreement, with less than 10 days to go before Washington is poised to impose even more tariffs on Chinese goods.

Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.

The U.S. and China 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: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, higher, goods, jobs, worth, upbeat, futures, tariffs, washington, ahead, novembers, points, report, worlds


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Treasury yields tick higher as investors await jobs report

ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%. Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump. On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade a


ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%.
Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.
On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal.
His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade a
Treasury yields tick higher as investors await jobs report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, worlds, higher, jobs, upbeat, trumpon, tariffs, yield, washington, treasury, yields, investors, report, tick, await


Treasury yields tick higher as investors await jobs report

At 02:50 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%.

Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.

On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade agreement, with less than 10 days to go before Washington is poised to impose even more tariffs on Chinese goods.

Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, worlds, higher, jobs, upbeat, trumpon, tariffs, yield, washington, treasury, yields, investors, report, tick, await


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European stocks move higher ahead of US jobs report; Swiss Re up 2.8%

European stocks moved higher Friday morning as investors awaited employment data out of the U.S. and monitored trade developments between Beijing and Washington. Looking at individual stocks, Marks and Spencer was 3% higher and among the top gainers across the European index, after a trading update from fellow U.K. firm AB Foods. The insurer Swiss Re also traded higher after announcing that it is selling its British unit to Phoenix Group Holdings for £3.2 billion ($4.1 billion). The pan-European


European stocks moved higher Friday morning as investors awaited employment data out of the U.S. and monitored trade developments between Beijing and Washington.
Looking at individual stocks, Marks and Spencer was 3% higher and among the top gainers across the European index, after a trading update from fellow U.K. firm AB Foods.
The insurer Swiss Re also traded higher after announcing that it is selling its British unit to Phoenix Group Holdings for £3.2 billion ($4.1 billion).
The pan-European
European stocks move higher ahead of US jobs report; Swiss Re up 2.8% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: silvia amaro
Keywords: news, cnbc, companies, second, swiss, trade, traded, data, stocks, higher, jobs, sector, ahead, talks, european, output, report


European stocks move higher ahead of US jobs report; Swiss Re up 2.8%

European stocks moved higher Friday morning as investors awaited employment data out of the U.S. and monitored trade developments between Beijing and Washington.

Meanwhile, Glencore dropped 1.5% in early deals. The Wall Street Journal reported that the mining company is being investigated in a U.K. bribery probe.

Looking at individual stocks, Marks and Spencer was 3% higher and among the top gainers across the European index, after a trading update from fellow U.K. firm AB Foods. The insurer Swiss Re also traded higher after announcing that it is selling its British unit to Phoenix Group Holdings for £3.2 billion ($4.1 billion).

The pan-European Stoxx 600 traded 0.3% higher with almost every sector in the black. Banking and tech stocks were among the top performers in early deals.

Overall, stock markets are following news on the U.S.-China trade front. President Donald Trump said Thursday that trade talks with China were “moving right along,” according to Reuters. However, earlier this week, the U.S. president said that it might be better to wait until after the presidential election in November of next year to finish a trade deal with Beijing. Meanwhile, spokespersons for the Chinese government have avoided commenting on the prospects of a trade deal.

Oil prices rose Thursday after OPEC members agreed in principle to another cut to output during the first quarter of 2020. OPEC members are starting their second day of talks on Friday.

On the data front, Germany’s industrial output dropped unexpectedly in the month of October. Industrial output fell 1.7% against a market expectation of a 0.1% increase in activity. In France, data on Friday showed a drop of 4.73 billion euros in its trade deficit. There will also be payroll figures out in the U.S. at 1:30 p.m. London time.

In the U.K., the leaders of the Conservative and Labour parties are set to have their final TV debate Friday ahead of the December 12 election. In France, a general strike is carrying on to a second day as public sector workers protest against changes to the pension system.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: silvia amaro
Keywords: news, cnbc, companies, second, swiss, trade, traded, data, stocks, higher, jobs, sector, ahead, talks, european, output, report


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China to waive tariffs on some US soybeans, pork in goodwill gesture

In a positive gesture, China said on Friday that it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out a broader agreement to defuse their protracted trade war. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the finance ministry said in a statement, citing a decision by the country’s cabinet. That includes tariffs of 25% on both U.S. soybeans and pork in July 2018 and a f


In a positive gesture, China said on Friday that it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out a broader agreement to defuse their protracted trade war.
The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the finance ministry said in a statement, citing a decision by the country’s cabinet.
That includes tariffs of 25% on both U.S. soybeans and pork in July 2018 and a f
China to waive tariffs on some US soybeans, pork in goodwill gesture Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, united, war, trade, soybeans, waive, pork, tariffs, china, gesture, washington, goodwill, chinese, 2018


China to waive tariffs on some US soybeans, pork in goodwill gesture

In a positive gesture, China said on Friday that it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out a broader agreement to defuse their protracted trade war. The tariff waivers were based on applications by individual firms for U.S. soybeans and pork imports, the finance ministry said in a statement, citing a decision by the country’s cabinet. It did not specify the quantities involved. China had imposed the levies in response to tariffs launched by Washington over allegations that China steals and forces the transfer of American intellectual property to Chinese firms, known as Section 301. That includes tariffs of 25% on both U.S. soybeans and pork in July 2018 and a further 10% on pork and 5% on soybeans in September this year.

This photo taken on July 19, 2018 shows a worker loading sacks of animal feed made from soybeans at the Hopefull Grain and Oil Group in Sanhe, in China’s northern Hebei province. The company is currently using soybeans imported from Brazil, after recently changing from U.S. soybeans. Greg Baker | AFP | Getty Images

The waiver comes amid negotiations between the United States and China to conclude a ‘phase one’ or interim deal to de-escalate a 17-month trade war that has roiled financial markets, disrupted supply chains and weighed on global economic growth. A deal had initially been expected last month, but the two sides are said to be still seeking agreement on major issues such as which tariffs to roll back and the size of U.S. farm purchases China is willing to make. Though President Donald Trump struck an upbeat tone on progress in talks on Thursday, a new round of U.S. tariffs covering about $156 billion of Chinese imports is set to kick in just over a week away on Dec. 15. China’s tariff waivers on key U.S. agricultural products is a sign of its commitment to the deal, said an industry source who declined to be identified because of the sensitivity of the matter. “The goal (of this move) is to expand purchases and reassure the United States,” said a Chinese source who advises Beijing on the trade talks. “It should be interpreted as a positive signal. Despite the many political difficulties the two sides face, economic and trade cooperation and moves to stop the escalation of the trade war are in the interest of both parties.” Since late 2018, Washington has similarly exempted some Chinese goods from U.S. tariffs, even as the tone of the trade talks waxed and waned. At end-October, the Office of the U.S. Trade Representative (USTR) began accepting tariff exclusion requests for Chinese goods subject to additional taxes in effect since Sept. 1. Prior to that, 14 batches of exclusions for Chinese products had been granted between December 2018 and mid-October this year. Washington imposed additional tariffs on about $125 billion worth of Chinese goods on Sept. 1, on top of 25% tariffs levied on an earlier $250 billion list of industrial and consumer goods.

US Soybeans


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, united, war, trade, soybeans, waive, pork, tariffs, china, gesture, washington, goodwill, chinese, 2018


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German industry slump sparks renewed growth fears

Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector. Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday. Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years. “Now the trepidation starts again about GDP growth in the f


Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector.
Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday.
Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years.
“Now the trepidation starts again about GDP growth in the f
German industry slump sparks renewed growth fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, worries, economy, trade, sparks, growth, fears, gdp, dropped, weaken, yearseuropes, output, german, renewed, month, slump, industry


German industry slump sparks renewed growth fears

Germany’s industrial output unexpectedly dropped in October, reviving worries about its economic growth outlook as its manufacturing backbone is hurt by global trade conflicts and disruption in the auto sector.

Industrial output dropped 1.7% on the month against expectations for a 0.1% rise, Statistics Office figures showed on Friday. Production of capital goods slumped by 4.4% on the month, the steepest decline in more than five years.

Europe’s biggest economy is going through a soft patch as its export-oriented manufacturers struggle against a backdrop of trade friction, an ailing car industry and uncertainties over Britain’s planned departure from the European Union.

“Now the trepidation starts again about GDP growth in the final quarter,” said Jens-Oliver Niklasch, economist at Landesbank Baden-Wuerttemberg.

In its 10th successive year of growth, the economy has been relying on strong consumption as exports weaken, which resulted in a second-quarter GDP contraction of 0.2%.


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, worries, economy, trade, sparks, growth, fears, gdp, dropped, weaken, yearseuropes, output, german, renewed, month, slump, industry


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Kudlow says a trade deal is close, but Trump is prepared to ‘walk away’ if some conditions not met

Larry Kudlow, White House National Economic Council director, said the U.S. and China are “close” to a trade deal but that the administration was prepared to walk away if it did not get the terms they wanted. We will walk away,” Kudlow said on CNBC’s “Squawk on the Street” on Friday. “The president has said that if we can not get the enforcement and the assurances, then we will not go forward.” The two countries are in talks to finalize a so-called phase one trade deal as 15% tariffs on $165 bil


Larry Kudlow, White House National Economic Council director, said the U.S. and China are “close” to a trade deal but that the administration was prepared to walk away if it did not get the terms they wanted.
We will walk away,” Kudlow said on CNBC’s “Squawk on the Street” on Friday.
“The president has said that if we can not get the enforcement and the assurances, then we will not go forward.”
The two countries are in talks to finalize a so-called phase one trade deal as 15% tariffs on $165 bil
Kudlow says a trade deal is close, but Trump is prepared to ‘walk away’ if some conditions not met Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: yun li
Keywords: news, cnbc, companies, fact, walk, away, good, kudlow, tariffs, close, president, trade, conditions, talks, met, trump, deal, prepared


Kudlow says a trade deal is close, but Trump is prepared to 'walk away' if some conditions not met

Larry Kudlow, White House National Economic Council director, said the U.S. and China are “close” to a trade deal but that the administration was prepared to walk away if it did not get the terms they wanted.

“The president has said many times if the deal is no good, if the assurances with respects to preventing future thefts, if the enforcement procedure is no good he has said we will not go for it. We will walk away,” Kudlow said on CNBC’s “Squawk on the Street” on Friday. “The president has said that if we can not get the enforcement and the assurances, then we will not go forward.”

The two countries are in talks to finalize a so-called phase one trade deal as 15% tariffs on $165 billion in Chinese imports are set to kick in Dec. 15. Kudlow said the two sides are moving closer to a deal.

“The deal is close. It’s probably even closer than in mid-November,” Kudlow said. “Deputy level met again … The reality is constructive talks, almost daily talks. We are in fact close…There’s no arbitrary deadlines, but the fact remains December 15 is a very important date with respect to a no go or go on tariffs.”


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: yun li
Keywords: news, cnbc, companies, fact, walk, away, good, kudlow, tariffs, close, president, trade, conditions, talks, met, trump, deal, prepared


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