Monday, August 19, 2019
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WHAT TO WATCH
After a roller coaster week for markets, this week is gearing up to be another busy one as events with plenty of market-moving potential grab the attention of investors.
As interest rates remain in focus, market watchers will be paying extremely close attention to the Federal Reserve and its chairman Jerome Powell this week. On Wednesday, The Federal Open Market Committee (FOMC) will be releasing its July meeting minutes, and on Friday, Powell will be speaking to kick off the Fed’s annual Jackson Hole Economic Policy Symposium.
Meanwhile, on the corporate earnings side, retailers will take centerstage this week. As many other big names gear up to report this week, investors will be looking for additional clues on how the retailers plan on tackling tariffs, as the trade war rages on.
Trump does not want to do business with Huawei: U.S. President Donald Trump on Sunday said he did not want the United States to do business with China's Huawei even as the administration weighs whether to extend a grace period for the company. [Reuters]
Plus: Apple CEO warns Trump about China tariffs [Reuters]
Two signs of strain on the global economy just came out from Japan: Japan unveiled that exports slipped for the eighth consecutive month in July. Exports to Japan’s top trading partner — China — fell for the fifth month, shrinking by 9.3% year-on-year. The escalating US-China trade war has caused ructions across markets and caused investors and businesses great concern that it will push the world into a recession. [Yahoo Finance UK]
30 business leaders who have backed Trump: Backlash against Equinox and SoulCycle fitness clubs reverberated across social media last week as consumers voiced disapproval of billionaire owner Stephen Ross’s $250,000-per-ticket Hamptons fundraiser for President Donald Trump. While CEOs and other leaders of consumer-facing brands have been careful around showing support for political candidates, Ross isn’t exactly the only prominent business person who has supported Trump. Here are other business leaders and founders who have thrown dollars behind the president. [Yahoo Finance]
Negative mortgages set another milestone in no-rate world: The world’s headlong dash to zero or negative interest rates just passed another milestone: Homebuyers in Denmark effectively are being paid to take out 10-year mortgages. Years of easing by central banks hacked away at interest rates around the world, distorting the traditional economics of lending and borrowing. Here’s a snapshot of mortgage rates around the world. [Bloomberg]
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