1. Trade fears: Investors are reacting to new trade threats from President Trump. Trump said over the weekend he would slap a new tax on cars from Europe if the European Union retaliated against his proposed steel and aluminum tariffs.
|
|
Where U.S. stocks are heading | | Dow Futures | | Nasdaq Futures | | S&P Futures | -24.00 | | +10.25 | | -3.25 | -0.10% | | +0.15% | | -0.12% | | | |
|
| Japan | | China | | U.K. | Nikkei 225 | | Shanghai Composite | | FTSE 100 | -139.55 | | +2.40 | | +19.49 | 21,042.09 | | 3,256.93 | | 7,089.39 | -0.66% | | +0.07% | | +0.28% | | | |
|
| Biggest Winners | XL Group Ltd | +29.93% | | Monster Beverage Corp | +1.26% | | Perrigo Company PLC | +0.87% | | Celgene Corp | +0.75% | | Biggest Losers | Qualcomm Inc | -2.61% | | Kimco Realty Corp | -0.78% | | Freeport-McMoRan Inc | -0.44% | | SL Green Realty Corp | -0.39% | | | | | | | |
|
|
News: What you need to know about the markets | | | | Trade fears; Europe deals; Italian elections | By Alanna Petroff Monday, March 5th, 5:28am | | 1. Trade fears: Investors are reacting to new trade threats from President Trump. | | Trump said over the weekend he would slap a new tax on cars from Europe if the European Union retaliated against his proposed steel and aluminum tariffs. | | BMW shares were down by more than 1% in early trade, and Daimler dropped about 0.6%. Volkswagen shares were flat. | | Trump announced plans last week to impose a 25% tariff on imported steel and a 10% tariff on aluminum. The EU vowed to hit back with tariffs on American-made motorcycles, bourbon, and denim jeans. | | Experts have warned that Trump could be walking into a trade war that would kill American jobs and reduce global trade. | | 2. European deals -- AXA, Siemens: Shares in AXA dropped by 7% in Paris after the insurer said it would buy industry rival XL Group for $15.3 billion in cash. | | The deal represents a 33% premium over XL Group's closing price on Friday. XL Group is traded on the New York Stock Exchange. | | German industrial conglomerate Siemens said that an initial public offering of its health care division will be smaller than expected. | | The company will sell a 15% stake in Healthineers on the Frankfurt Stock Exchange on March 16. Investors had been expecting more shares to be on offer. | | Siemens expects the listing to raise up to €4.7 billion ($5.7 billion). | | 3. Politics, politics, politics: Italian stocks dropped 1.3% in early trading after anti-establishment parties surged in national elections on Sunday. | | No party received enough votes to rule alone, but the populist Five Star Movement made significant gains and could be the biggest single party in parliament. | | "It may take months of tortuous negotiations to form a government which apparently will need to be backed by one of the two big radical parties, the [Five Star Movement] or the euro-sceptic Lega [Nord]," wrote economists at Berenberg Bank. | | In Germany, Chancellor Angela Merkel has secured a fourth term after months of political wrangling. | | The Social Democratic Party voted to renew a coalition with Merkel's Christian Democrats, ending nearly six months of political deadlock that had threatened reforms in Europe. | | German stocks were up 1% in early trading. | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | 4. China GDP: China is predicting a slowdown in growth in 2018. | | Beijing announced an economic growth target of 6.5% on Monday. That's several notches below the 6.9% rate at which the world's second largest economy expanded last year. | | The government's target for this year is in line with economists' forecasts. It was unveiled at the start of the National People's Congress, an annual gathering of Chinese lawmakers. | | Growth is expected to cool this year as the Chinese government ramps up efforts to cut risk in its financial system and close down inefficient, polluting factories. | | 5. Global stock market overview: US stock futures were soft, while European markets were buoyant in early trading. | | Most Asian markets ended the day with losses. | | The Dow Jones industrial average, S&P 500 and Nasdaq all endured losses last week. The Dow was the biggest loser with a 3.1% drop over the five trading days. | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | |
| | | Monday — Ascena Retail Group earnings Tuesday — Target, H&R Block, Urban Outfitters earnings Wednesday — Costco, Dollar Tree earnings Thursday — Kroger earnings; Trans-Pacific Partnership Agreement set to be signed in Santiago de Chile Friday — US monthly jobs report | | | | | | |
Key Market Stats | Latest | Today's Change | | Oil | $61.59 | +0.34 / +0.56% | | Gold | $1,326.40 | +3.00 / +0.23% | | 10-yr | 2.86% | 0.00 / 0.00% | | Euro | $1.23 | -0.00 / -0.04% | | | |
|
Hi, let us know what you think of this newsletter! | | Tell us what you want to read more of... and less of. Email your tips and feedback to BeforeTheBellFeedback@cnn.com | | |
|
|
|
| Tips, thoughts or questions are always welcome at BeforeTheBellFeedback@cnn.com. | | ® © 2018 Cable News Network Inc. A Time Warner Company. All Rights Reserved. You are receiving this message because you subscribed to CNNMoney's "Before The Bell" newsletter.
Our Mailing address is: Cable News Network, Inc. Attention: Privacy Policy Coordinator One CNN Center, 13 North Atlanta, GA 30303 | | | |
No comments:
Post a Comment