Dow Jones futures slashed heavy losses Monday morning, along with S&P 500 futures and Nasdaq futures, as investors try to price in an escalating China trade war, following Friday's big stock market declines. After hiking China tariff rates Friday, President Donald Trump said Sunday his trade war regret was not raising tariffs higher. Apple, perhaps the ultimate China trade war stock, will be in focus.
Megvii Technology, the Beijing-based artificial intelligence startup known in particular for its facial recognition brand Face++, has filed for a public listing on the Hong Kong stock exchange. Its prospectus did not disclose share pricing or when the IPO will take place, but Reuters reports that the company plans to raise between $500 million and $1 billion and list in the fourth quarter of this year. Megvii's investors include Alibaba, Ant Financial and the Bank of China.
When it comes to retirement, many people think that what was true for their parents and grandparents still holds true today. You may have seen your grandfather retire at age 62, collect a pension and Social Security for a dozen or so years, and think this scenario will be feasible for your own retirement. Or perhaps your Depression-era grandmother refused to give up her frugal ways despite having ample savings and chose to live out the rest of her life without ever enjoying a penny of what she'd scrimped and saved.
Timothy Stratford, chairman at AmCham China and managing partner at Covington & Burling, discusses the ratcheting up of tensions between the U.S. and China and what it means for the trade talks and U.S. companies doing business in China. He speaks on “Bloomberg Markets: China Open.
Buckingham did a special screen of stocks held within Prudent Speculator portfolios to narrow the group to 25 that meet additional criteria, as listed below. He also provided three- to five-year price targets for the group. That is in contrast to the 12-month targets and ratings used by most Wall Street analysts.
U.S. lobster exports to China have fallen off a cliff this year as new retaliatory tariffs shift the seafood business farther north. China, a huge and growing customer for lobster, placed heavy tariffs on U.S. lobsters — and many other food products — in July 2018 amid rising trade hostilities between the Chinese and the Trump administration. Meanwhile, business is booming in Canada, where cargo planes are coming to Halifax, Nova Scotia, and Moncton, New Brunswick, to handle a growing bump in exports.
Most Germans live by the credo that saving is a virtue, but the European Central Bank's negative interest rates risk making a mockery of the national obsession, prompting politicians to seek ways to insulate thrifty citizens and keep the burden on the country's beleaguered banks. Finance Minister Olaf Scholz says he'll look into whether it's possible to prevent German banks from charging most retail-banking clients for deposits, after such a measure was proposed by the leader of Bavaria. Lenders have rejected the idea, saying bans don't ultimately help clients and could even destabilize financial markets.
Joanna Kwok, who co-manages the JPMorgan Asia Growth Fund, says volatility will linger in Asia markets due to trade war uncertainty and corporate earnings concerns. “You just need to be continuously disciplined,” said Kwok, whose fund tracking the MSCI Asia excluding Japan Index has returned 11% year-to-date.
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Altria Group Inc. recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
The world's most influential consumer electronics company shed $44 billion of market value Friday after a pair of pronouncements from Beijing and Washington cast a spotlight on its massive Chinese production base, from which almost all of the world's iPhones are made. U.S. President Donald Trump this weekend “ordered” American companies to immediately start looking for alternatives to manufacturing in China, which is something Apple is thoroughly unprepared for, according to analyst Daniel Ives of Wedbush Securities Inc. In a best case scenario,” says Ives, Apple “would be able to move away 5%-7% of iPhone production out of China” over the course of 18 months.
The summer driving season isn't over yet, but gasoline prices at the pump are already declining, with the potential to drop 10% or more from current prices before the year is done. As of Aug. 19, the average U.S. price for a gallon of regular gas had fallen five consecutive weeks, and at $2.594 on Friday, was down from last month and a year ago, according to fuel-price tracker GasBuddy. Futures prices for reformulated gasoline (RBU19) trade more than 13% lower month to date.
Mark O'Byrne, executive director at Goldcore Ltd., discusses his outlook for gold amid the global uncertainty. He speaks on “Bloomberg Markets: European Open.
Much of the lira's Monday sell-off happened about 7:20 a.m. in Tokyo, around when Japanese margin-trading firms typically start closing loss-making client positions. Net lira-yen longs held by margin accounts rose last week to the highest level since mid-June, according to data from the Tokyo Financial Exchange Inc. Earlier this year too, yield-hungry Japanese retail investors were caught in a flash crash when the yen in January surged against every currency tracked by Bloomberg during the so-called witching hour of the Asian morning.
Amy Wang and her husband spent hundreds of hours trying to straighten out their financial futures after falling prey to identity theft. Amy, a 50-year-old occupational therapist in Miami, says she and her husband, Michael Wang, started receiving credit-card denials and store credit cards in the mail in December of 2015. The shoppers had expensive taste, Amy said, opting for luxuries like diamond earrings, Gucci and Armani.
Through two over-the-phone sessions and a couple of weeks of financial reflection, I found that I didn't have to give up things I really loved to save money. That realization is helping me get past my financial anxiety and helping me to make productive spending cuts. The sessions each lasted about an hour.
On Friday, Trump announced an additional duty on some $550 billion of targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of U.S. goods. "This tit-for-tat escalation shows how unlikely a trade deal and de-escalation have become," Louis Kuijs, of Oxford Economics, wrote in a note late on Sunday. "The impact of the new tariffs on China's economic growth will be sizeable," he said.
Not to mention NUAN announced on August 23 that it will be releasing a new AI-based platform, the Computer-Assisted Physician Documentation (CAPD) solution, to help surgeons with documentation before and after operations. The AI component is critical to the efficiency and ease of use as it relates to workflow, helping to guide surgeons through the documentation process by providing the relevant, episodic, in-workflow guidance needed to capture the required level of specificity and relative completeness of the note leading to appropriate reimbursement in a complex specialty,” Senior Vice President Michael Clark said.
This weekend's Barron's offers ways to prepare portfolios to ride out the next decade. "How to Prepare Your Portfolio for the Worst When the Worst Is a Real Possibility" by Reshma Kapadia shows how financial advisors are beginning to prepare for some bad, but not unthinkable, "doomsday" scenarios. Should Microsoft Corporation (NASDAQ: MSFT) be in your doomsday portfolio?
Employers early on supported their workers' desire to protest but have started to shift under pressure from Beijing. Every company in Hong Kong is in a delicate situation.
On top of the $2 trillion in liabilities to foreigners captured in official data, mainland Chinese firms have around another $650 billion in debts built up by subsidiaries overseas, according to Bloomberg calculations. The prospect of Chinese companies rushing to find dollars to service liabilities comes at a time when authorities have already allowed the currency to sink below 7 per dollar amid a trade war with the U.S. The nation now risks a reprisal of what happened after the yuan's devaluation in 2015, when foreign-debt servicing contributed to a rapid decline in the country's foreign-currency reserves. “China's debt servicing risks can be underestimated with this part of the debt staying outside the official gauge,” said Ji Tianhe, a strategist at BNP Paribas SA in Beijing, adding that the $3.1 trillion in foreign-currency reserves is “just enough” to cover the risks.
It's getting tougher to bet on oil in the age of Trump trade tweets and Chinese retaliation, with hedge funds getting it wrong for a seventh time in nine weeks. This time around, short-sellers made their biggest retreat in a year in the week ended Aug. 20, slashing by 25% their wagers that West Texas Intermediate crude would decline, data released Friday show. That made sense as the U.S. had just delayed sanctions against Huawei Technologies Co., offering a rare hint of progress in the trade spat that has dogged the market.
U.S. stock markets futures sharply dropped in early trading Sunday, following comments by President Donald Trump on Friday that escalated trade-war tensions. Dow Jones Industrial Average futures (ym00) initially fell more than 300 points, or more than 1%, but recovered somewhat as the trading session progressed, and were last down about 200 points. S&P 500 futures (es00) and Nasdaq Composite futures (nq00) also initially dropped by more than 1% each, but narrowed losses as the trading day progressed.
China's renminbi weakened to a new 11-year low on Monday but global markets stabilised after US president Donald Trump said China has requested to restart trade talks, breathing life into risk assets as investors hoped for a de-escalation in tensions. “I have great respect for the fact that China called, they want to make a deal,” Mr Trump said at the G7 conference in Biarritz on Monday morning. “This is the first time I've seen them where they really do want to make a deal, and I think that's a very positive step,” Mr Trump said.
The Hang Seng Index closed down 1.9% in Hong Kong, after falling as much as 3.6%. Meat producer WH Group Ltd., AAC Technologies Holdings Inc. and Cnooc Ltd. were among the worst performers. Hong Kong stocks tumbled earlier Monday after China and the U.S. announced additional levies on each other's goods, and President Donald Trump called for American companies to pull out of Asia's largest economy.
Then, on the back of a potential trade war, investors become fearful of investing in any stocks with any sort of Chinese exposure, forcing JD.com's share price stock to drop more than 40% in six short months. Highlighted above we can see that JD.com's revenue growth rate has stabilized. For many analysts and investors who had become used to seeing JD.com's top-line growth rate decelerating, the fact that JD.com's revenue growth is demonstrably above 20% is very welcome news (note: the graph above includes JD.com's Q3 2019 guidance).