Home » Money

Wall St cuts losses as Kudlow promises China trade talks

07 April, 2018, 01:00 | Author: Shawna Walton
  • Dow drops more than 400 points on fears of trade war with┬áChina

USA stocks traded lower on Thursday as news that President Donald Trump would propose trade duties on China imports stoked fresh fears about a potential trade war between two of the world's largest economies that could impede domestic economic expansion in roughly its ninth year. The Dow is up 332.79 points or 1.4 percent at 24,597.09, the Nasdaq is up 62.64 points or 0.9 percent at 7,104.75 and the S&P 500 is up 25.93 points or 1 percent at 2,670.62. The Standard and Poor's 500 index and Nasdaq took opened 1.4 percent percent lower, respectively, while industrial and materials sector stocks took the heaviest losses. Only two of the most active US stocks premarket were higher. In the absence of new all-time highs, stock fans on bear watch should be waiting for the 21,293.37 level in the Dow and 2,298.30 in the S&P.

Hedge fund manager Doug Kass, who runs Seabreeze Partners Management Inc, said he was shorting the Standard & Poor's 500."The hastily crafted policy like we have seen from Trump over the last two, three days and now tonight in a world that is flat and ever-more interconnected is risky". China earlier said no talks were ongoing. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 4.4 basis points at 2.832 percent. Technology companies, banks, industrial and health care stocks sank.

Stocks are falling sharply again as trade tensions heat up between the US and China.

Hilton Capital Management LLC boosted its holdings in shares of Direxion Daily S&P 500 Bull 1.25X Shares (NYSEARCA:LLSP) by 77.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. While annual growth in average hourly earnings rose to 2.7 percent, it stayed below the 3 percent that economists estimate is needed to lift inflation toward the Federal Reserve's 2-percent target. It fell 0.7 percent for the week.

The trade tensions overshadowed the latest U.S.jobs report, which showed hiring cooled by more than forecast in March.

The Labor Department also said fewer jobs were added in January and February that it initially estimated. Heating oil lost 2 cents to $1.96 a gallon. Oil prices fell nearly 5 percent this week as investors wondered if an increase in trade tensions will reduce demand for oil by slowing down the global economy. While the UK's FTSE 100 Index crept up by 0.1%, the French CAC 40 Index dipped by 0.2% and the German DAX Index fell by 0.4%.

Recommended:

  • UK Sugar Tax To Shake Up Soft-Drink Market

    UK Sugar Tax To Shake Up Soft-Drink Market

    It comes after shocking Public Health England figures revealed one child has a rotten tooth removed every 10 minutes in hospital. Will the sugar tax work? This relates to all applicable drinks sold in the United Kingdom , both manufactured and imported.
    1198 terrorists from

    1198 terrorists from "Jaish al-Islam", their families evacuated from Douma

    It said those on board were fighters and family members belonging to the Army of Islam, the largest rebel group in eastern Ghouta. The Russian military said the rebels will surrender maps of mined areas and underground tunnels when they leave Douma.
    Israeli gunfire injures 11 Palestinians on Gaza border

    Israeli gunfire injures 11 Palestinians on Gaza border

    Turkish President Recep Tayyip Erdogan said on Sunday Israeli Prime Minister Benjamin Netanyahu is a "terrorist and occupier". One day after the Israeli army killed 16 Palestinian peace protesters , Meidan tweeted: "Today, I am ashamed to be Israeli".
  • Sinclair's Local Anchors Decry Fake News Via Same Script

    Sinclair's Local Anchors Decry Fake News Via Same Script

    Norma Holland from " 13WHAM News " tells the public she did not want to read the script, but was anxious about losing her job. Among others, John Oliver skewered Sinclair's campaign during his HBO program, " Last Week Tonight ", on Sunday.
    Markram shines as scandal-hit Australia toil in fourth test

    Markram shines as scandal-hit Australia toil in fourth test

    Batsmen Peter Handscomb, Matthew Renshaw and Joe Burns were returning to the team as a result of the scandal. At drinks, South Africa were 35/0 at drinks.
    Jury selection completed for Bill Cosby's retrial

    Jury selection completed for Bill Cosby's retrial

    So far, four women and four men have been empaneled, with the eighth - a middle-aged white woman - being seated early Wednesday. Dickinson, now 63, has alleged that Cosby drugged her, rendering her unconscious, and sexually assaulted her when she was 27.
  • Japanese anime film director Isao Takahata Expires at 82

    Japanese anime film director Isao Takahata Expires at 82

    Takahata was a graduate of the University of Tokyo and initially worked at Toei, one of Japan's major film and animation studios. Inspired by the director's own experiences, the film's emotional heft lies in its unblinking assessment of the ravages of war.
    Social media tributes pour in for Winnie Mandela

    Social media tributes pour in for Winnie Mandela

    He noted the tremendous impact both Winnie and her late former husband, Nelson Mandela had on him and throughout the world. Her death was first announced by the family in Soweto , where she still maintained her home till her dying day.
    Hole-in-one hero Tony Finau suffers ankle injury when celebrating

    Hole-in-one hero Tony Finau suffers ankle injury when celebrating

    Watson previously won the Par 3 Contest in 1982 and becomes the oldest victor in the tournament's history. The 78-year-old, 18-time major victor , said later: "What I did doesn't make any difference to me".
  • Far Cry 5's Accolades Trailer Soars with High Scores

    Far Cry 5's Accolades Trailer Soars with High Scores

    It might seem odd that Ubisoft chose setting animals on fire for a live event but it certainly speaks to the tone of Far Cry 5 . The catch? You can't use obvious choices such as a flamethrower of molotov cocktail, so you need to get a little more creative.
    Stocks fall as China puts tariffs on US goods

    Stocks fall as China puts tariffs on US goods

    Stocks slipped into the red for a brief period after President Donald Trump's latest attack on Amazon but then quickly recovered. Home builder Lennar and motor vehicle retailer CarMax were among the best performers in the S&P 500 after reporting earnings.
    Millions of Customer Records Leaked at Panera Bread

    Millions of Customer Records Leaked at Panera Bread

    However, both Houlihan and Krebs noted that the data in question remained searchable and public on Panera's website. As of this publication, the site is back online but the data referenced above no longer appears to be reachable.


Popular

"I Am A Hindu Vaishnav, Not Jain": Amit Shah
The session has witnessed very little business due to continuous disruption over various demands by opposition and other parties. Later, Shah said his intention was not to equate Opposition parties to animals.

Cardi B Hints That She Will Address Pregnancy Rumor in New Album
Speaking to Beats 1, Cardi B has now reiterated her stance, describing the alleged feud as "really internet made-up". But there seems to be a real drama between the " Bartier Cardi " rapper and Azealia Banks .

Here's the moment Conor McGregor attacks a bus in New York
Michael Chiesa faced multiple lacerations on his face while Ray Borg had a piece of glass scrap his eye. And McGregor was charged just before 9am Irish time and is due to appear in court in NY later today.

Man guns down suspect in police presence
Collingswood police arrested Liam Heim with the girl at a motel near the Philadelphia airport on Thursday. Authorities were alerted to the case when the girl's parents reported her missing.

International Olympic Committee: Seven cities interested in hosting 2026 Winter Olympics
From there, cities will put together their best bids for presentation at the IOC Session in Milan in September of 2019. The deadline for joining the dialogue stage was March 31.

Patriots' Julian Edelman Might Have Thwarted a School-shooting
Edelman said in reference to the February school shooting in Parkland, Florida. They also recovered two rifles, which belonged to a family member.

Insomniac's 'Spider-Man' To Be Unveiled In September Only On PS4
Released footage from Spider-Man showcases a highly confident, mobile character "who is at the peak of his skills". Sony just announced the all-important release date , along with the game's box-art, and two deluxe editions .

Syrian rebels begin to leave last Eastern Ghouta bastion, state media says
Trump told a group of union workers in Ohio Thursday that he wants to pull USA troops out of Syria " very soon ". FILE PHOTO: A USA fighter stands near a military vehicle, north of Raqqa city, Syria November 6, 2016.

Tesla Falls Short of Model 3 Production Numbers
Another investor who said he has profitably sold Tesla shares short four times in the last 18 months was also sceptical. The company said it made 9,766 Model 3 vehicles in the first quarter, reflecting a four-fold increase from the fourth.

Republicans warn of 'blue wave' in November after Rebecca Dallet's win
Screnock told the crowd at his election watch party he was unable to get in touch with Dallet to congratulate her on her win. Walker is up for re-election to a third term in November.