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Morning Brief: China vows to retaliate after Trump imposes more tariffs

Tuesday, September 18, 2018

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What to watch today

In addition to tracking the market reaction to tariff-related news, investors will turn their attention to the housing sector on Tuesday with the September gauge on homebuilder confidence and earnings out of Lennar (LEN) highlighting the schedule. Lennar is expected to report earnings per share of $1.19 on revenue of $5.64 billion.

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Top news

China will retaliate after Trump imposes fresh tariffsChina vowed to retaliate after the U.S. said it will impose a 10% tariff on about $200 billion in Chinese goods next week and more than double the rate in 2019. The statement from the Ministry of Commerce didn’t note specific actions. [Bloomberg]

Store workers are out of stock for the holidaysThe holiday shopping season is still two months away. But faced with record-low unemployment and rising wages in other industries, U.S. retailers already are scrambling to find enough workers to staff their stores. [The Wall Street Journal]

FedEx quarterly profit misses estimate: FedEx Corp. (FDX) reported quarterly profit that missed Wall Street estimates on Monday, as employee compensation and other expenses weighed on results. Shares in the Memphis-based package delivery company fell 2.7% to $248.60 in after-hours trading. [Reuters]

Amazon to release at least 8 new Alexa devicesAmazon (AMZN) is doubling down on its Alexa-powered devices, with plans to release at least 8 new voice-controlled hardware devices before the end of the year. [CNBC]

Netflix ties longtime Emmy darling HBO in total wins: Streaming service Netflix Inc. (NFLX) and premium cable channel HBO battled to a tie at the Emmy awards ceremony, with each taking home 23 of the television industry’s top honors. [Reuters]

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.