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Trump and Xi to meet after China hits U.S. with new tariffs: Morning Brief

Yahoo Finance

Tuesday, May 14, 2019

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WHAT TO WATCH

Market participants can expect three key speeches from Federal Open Market Committee members today.

First, New York Fed President John Williams, a voting member, will be speaking in Zurich at 3:15 a.m. ET. He will participate in the panel, “Past - Lessons Learned from an Evolving International Monetary System." Then at 12:45 p.m. ET, Kansas City Fed President Esther George, also a voting member, will be speaking in Minneapolis. Finally, at 6 p.m. ET, San Francisco Fed President Mary Daly is scheduled to speak at Northwestern University.

Meanwhile, notable earnings reports scheduled for today will come from apparel giant Ralph Lauren (RL) before the market open and cannabis company Tilray (TLRY) after the market close. Analysts are expecting Ralph Lauren to report adjusted earnings of 90 cents per share on $1.48 billion in revenue and Tilray to report an adjusted earnings loss of 24 cents per share on $21.40 million in revenue.

Read more

TOP NEWS

(170407) -- MAR-A-LAGO, April 7, 2017 (Xinhua) -- Chinese President Xi Jinping (R) and his U.S. counterpart Donald Trump take a walk to further discuss bilateral cooperation issues in the Mar-a-Lago resort in Florida, the United States, April 7, 2017. The two leaders held their second round of talks here on Friday. (Xinhua/Lan Hongguang) (wyo) (Photo by Xinhua/Sipa USA)
(170407) -- MAR-A-LAGO, April 7, 2017 (Xinhua) -- Chinese President Xi Jinping (R) and his U.S. counterpart Donald Trump take a walk to further discuss bilateral cooperation issues in the Mar-a-Lago resort in Florida, the United States, April 7, 2017. The two leaders held their second round of talks here on Friday. (Xinhua/Lan Hongguang) (wyo) (Photo by Xinhua/Sipa USA)

Trump and Xi to meet after defiant China hits U.S. with new tariffs: China and the United States have agreed to keep talking about their trade dispute, the Chinese government said on Tuesday, as U.S. President Donald Trump said he thought recent discussions in Beijing would be successful. [Reuters]

Also: US-China trade war escalation bodes badly for Europe [Yahoo Finance UK]

Walmart launches free next-day delivery: Walmart (WMT) just upped the stakes in the shipping wars with its latest offering — free next-day delivery with no membership fee. Shoppers on Walmart.com can access NextDay delivery via a stand-alone function where they can browse up to 220,000 of the most commonly purchased items, everything from diapers to cleaning products to toys and electronics. [Yahoo Finance]

Justice Kavanaugh's Apple decision has 'shaken up' antitrust law: President Donald Trump’s latest appointee to the Supreme Court joined with liberal justices on Monday to green light a consumer class action accusing Apple (AAPL) of monpolizing the market for iPhone apps. That appointee, Justice Brett Kavanaugh, wrote the majority opinion holding that iPhone owners qualified as “direct purchasers” with the right to sue Apple for allegedly monopolizing the market for apps through its App Store. [Yahoo Finance]

Nissan flags weakest profit in 11 years: Nissan Motor Co forecast a 28% drop in its annual operating profit, setting it up for the weakest earnings in 11 years and underscoring its struggle to turn the page after the ouster of former Chairman Carlos Ghosn. [Reuters]

FEATURE: Meet the 2020 presidential candidates: Yahoo Finance is introducing presidential candidates leading up to the 2020 election. Learn everything you need to know about their economic plans, and how they could impact your money, through personal interviews and original reporting from Yahoo Finance. [Yahoo Finance]

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