|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||13.36|
|Forward Dividend & Yield||0.10 (2.32%)|
|1y Target Est||N/A|
This column provides a daily update on key presidential actions as well as comments, whether spoken aloud or on Twitter, by President Trump. President Donald Trump said Tuesday that his planned summit with North Korea’s Kim Jong Un could be delayed, as he suggested China’s president could be to blame for Kim’s shifting attitude. Trump said his summit with Kim “may not work out for June 12.” Meeting with South Korean President Moon Jae-in, Trump told reporters he noticed a change in Kim Jong Un’s attitude after the North Korean leader met with Chinese President Xi Jinping a second time.
Further positive develops in the China trade war, a weaker dollar and a slowing in bond yields are giving the indices a further boost this morning. While the indices managed good sized gains and are adding to them this morning, there hasn't been an explosion of buying and strong momentum. The indices made little, if any, progress intraday after the gap-up open and finding stocks that ended the day at their highs was difficult.
Or is this all just a cover for what might end up being the erection of some nasty trade barriers because there can be no agreement on key issues like intellectual-property protection? The Trump administration seems to want to put a positive spin on U.S.-Chinese trade talks right now, even as U.S. Trade Representative Robert Lighthizer said over the weekend that we might have to use tariffs to stop alleged intellectual-property theft. How is it possible that there could be two different, contradictory views from one administration -- and if there are, can Monday morning's futures rally last?
Rudy Giuliani said Friday on CNN that Special Counsel Robert Mueller has agreed to narrow the scope of a potential interview with President Donald Trump from five topics to two. Giuliani said Mueller is not considering asking Trump about his former personal attorney Michael Cohen, who is under investigation in New York over his business dealings.
The closing bell had just stopped ringing. It had been obvious to all of us for several hours now that equity markets had crashed. My spot was just under the podium where television viewers now watch that already mentioned closing bell ring every day.
Moody's Investors Service says that US restrictions on technology transfers and Chinese investment could disrupt China's near-term development of its tech sectors, but would be unlikely to alter its long-term development plan as the Chinese government could increase its spending on the sectors to mitigate the impact. "Although China is moving toward technological self-sufficiency, some core technologies still rely on components and services from the US and other advanced economies," says Lillian Li, a Moody's Vice President and Senior Analyst.
This column provides a daily update on key presidential actions as well as comments, whether spoken aloud or on Twitter, by President Trump. President Donald Trump said Wednesday “we’ll have to see” about his planned meeting with Kim Jong Un after North Korea threatened to cancel the summit, met with Uzbekistan’s leader and tweeted that the U.S. hasn’t given in to China on trade. Asked if the summit with North Korea’s leader would still happen, Trump replied, “We’ll have to see.” He added his administration hasn’t seen or heard anything from North Korea, but “time will tell.” He insisted that he’ll call for denuclearization of the Korean Peninsula, a demand that has riled North Korea.
Moody's Investors Service says that regulators continue to focus and make progress on de-risking China's financial sector with coordinated measures, and that the growth of shadow banking assets will accordingly remain constrained in 2018. "The result is reflected in our adjusted total social financing (TSF) series, growth of which is now more aligned with nominal GDP growth -- a sign that the buildup of economy-wide leverage has been further contained," says Michael Taylor, a Moody's Managing Director and Chief Credit Officer for Asia Pacific. Moody's conclusions are contained in its just-released "Quarterly China Shadow Banking Monitor".
This column provides a daily update on key presidential actions as well as comments, whether spoken aloud or on Twitter, by President Trump. President Donald Trump met with Senate Republicans on Capitol Hill on Tuesday, as he renewed a call for cop killers to get the death penalty and said “stay tuned” as trade talks with China continue. Trump met with Republican senators and was expected to discuss the economy and his upcoming meeting with North Korea’s Kim Jong Un.
This column provides a daily update on key presidential actions as well as comments, whether spoken aloud or on Twitter, by President Trump. President Donald Trump said Monday that the U.S. is committed to peace as the American embassy opened in Jerusalem, as he thanked the man hailed as a hero for saving lives at a shooting in Nashville and discussed Argentina’s economy with its president. In a recorded message, Trump told a ceremony opening the Jerusalem embassy that he was “fully committed” to a lasting peace between Israel and the Palestinians.
When the Trump administration decided to punish Chinese cellphone maker ZTE Corp. by banning American companies from selling components to ZTE, many American suppliers dropped significantly. One Trump tweet later and those same suppliers were rallying Monday.
Trump, Hannity reportedly like to talk most weeknightsBloomberg News/LandovSecretary of State Mike Pompeo urged a crackdown on ZTE when he was a congressman. President Donald Trump’s surprise directive to the Commerce Department to back off an earlier decision and help Chinese telecom giant ZTE Corp. (ZTCOY) was the opposite of what two of his cabinet secretaries urged in 2016 when they were members of Congress, Bloomberg reports. Secretary of State Mike Pompeo and Interior Secretary Ryan Zinke, who represented districts in Kansas and Montana, respectively, had asked senior Obama administration officials in a 2016 letter to reconsider their decision at the time to relieve ZTE of sanctions for selling technological goods to Iran, Bloomberg says.
The market is off to a frisky start as President Trump relieves some worries about a trade war with China. ZTE has been the subject of investigation by the United States for years and was recently subjected to sanctions when it failed to comply with some directives. Saving ZTE is not a selfless act, however, as it has deep ties to U.S. supplies.
It is extremely unusual for a U.S. president to threaten to override his own Commerce Department.
U.S. President Donald Trump's trade strategy was throw into confusion over the weekend as he pressured Commerce Department officials to ease restrictions on a Chinese company accused of violating sanctions on Iran just as his administration warned European firms could be punished for doing business with Tehran. Trump's National Security Adviser, John Bolton, told CNN Sunday that "it's possible" the White House could sanction European companies that violate upcoming trade sanctions on Iran following the President's decision to withdraw from a multi-lateral nuclear treaty with the Gulf nation last week.
President Donald Trump appeared to throw a lifeline to China's ZTE Crop. Trump said "too many jobs" had been lost in China as a result of the Commerce Department ruling on April 15 that banned American companies from providing components to ZTE after it was found to have violated a 2017 agreement that included $900 million in penalties. President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast.
President Donald Trump has told the U.S. Commerce Department to get ZTE Corp., the massive Chinese telecom equipment maker, back into business after denying the company export privileges in April.
Just six days ago, the big reversal day, we were pricing in another weekend of difficult trade talk and a belief that the Chinese were going to make trouble this past weekend and our European allies were growing restive about our insistence that auto tariffs come down while we seemed incredibly far apart in the NAFTA talks. Secretary of Commerce Wilbur Ross has spoken a real hardline on China in the last few days, which seemingly doesn't bode well for the upcoming talks. built gigantic plants in Mexico in the last year that will begin shipping in volume to the U.S. this year and next.
Moody's Investors Service has just published its May edition of Inside China, a quarterly newsletter. In particular, Moody's says that the direct effects of proposed US tariffs on China's exports and economy are likely underestimated, and that the full extent of their overall impact will be seen through knock-on effects. On China's debt-for-equity swap framework, Moody's says that this framework renders near-term liquidity relief to affected Chinese corporates, giving them time to restore their business and credit profiles.
Moody's Investors Service says that offshore bond issuance by Chinese property developers will stay strong for the rest of the year, given high refinancing needs. "Moody's-rated developers will have around USD17.2 billion of offshore bonds and USD43.1 billion of onshore bonds maturing or puttable over the next 12 months, driving high levels of refinancing needs for the rest of 2018," says Franco Leung, a Moody's Senior Vice President. Moody's conclusions are contained in its latest monthly report, "China Property Focus: Sales growth is slowing amid tight onshore credit".
Officials have suggested that the Chinese government could order Chinese manufacturers to hack into products they make to spy on or disable communications. "Huawei and ZTE devices may pose an unacceptable risk to the department's personnel, information and mission," said Army Maj. Dave Eastburn, a Pentagon spokesman, in a statement. The Trump administration is reportedly considering executive action that would restrict the ability of certain Chinese companies to sell telecom equipment in the U.S. due to national security concerns, the Wall Street Journal reported.