1. Gary Cohn is out: President Donald Trump's top economic adviser is leaving the White House, and his departure is sending shock waves through Wall Street. Cohn, the former president of Goldman Sachs, was a moderating voice in Trump administration, helping to temper more aggressive views on economic policy and especially trade.
|
 |
| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -334.00 | | -65.25 | | -29.25 | | -1.34% | | -0.94% | | -1.07% | | | |
| |
| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -165.04 | | -17.97 | | -10.38 | | 21,252.72 | | 3,271.67 | | 7,136.37 | | -0.77% | | -0.55% | | -0.15% | | | |
| |
| | | Biggest Winners | | Autodesk Inc | +7.22% | | | Biggest Losers | | Mondelez International Inc | -3.82% | | | | Caterpillar Inc | -2.57% | | | | Netflix Inc | -2.40% | | | | Micron Technology Inc | -1.94% | | | | | | | |
| |
| |
| News: What you need to know about the markets | | | | | | | Gary Cohn is out; Europe tariff response; Costco earnings | By Alanna Petroff
Wednesday, March 7th, 4:59am | | | | 1. Gary Cohn is out: President Donald Trump's top economic adviser is leaving the White House, and his departure is sending shock waves through Wall Street. | | | | Cohn, the former president of Goldman Sachs, was a moderating voice in Trump administration, helping to temper more aggressive views on economic policy and especially trade. | | | | US stock futures were down about 1% on Wednesday. | | | | Cohn had been trying in recent days to soften Trump's plan to impose tariffs on aluminum and steel, which many observers fear could spark a trade war. | | | | Global markets also reacted badly to the resignation. European stocks dropped in early trading, with many key indexes down by about 0.5%. Losses exceeded 1% in some Asian markets. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 2. Europe responds: The European Commission will brief reporters on Wednesday on how it will respond to Trump's steel and aluminum tariffs. | | | | Commission President Jean-Claude Juncker said last week that Harley-Davidson motorbikes and bourbon whiskey could be targeted. | | | | It's also a big day for Brexit. | | | | The European Union will also publish a draft proposal outlining plans for its future trading relationship with Britain. Separately, UK Treasury chief Philip Hammond will outline his view on the future of financial services. | | | | 3. Earnings and economics: Abercrombie & Fitch, Casey's General and Dollar Tree will release earnings before the open. Caesars Entertainment, Costco and Rosetta Stone will follow after the close. | | | | The US Census Bureau will publish January trade balance data at 8:30 a.m. ET. The Federal Reserve will release its Beige Book at 2 p.m., giving an overview of economic performance across the country. | | | | 4. Stock market movers -- Autodesk, H&R Block, Rolls-Royce: Shares in Autodesk and H&R Block surged in extended trading after reporting better-than-expected quarterly results. | | | | Shares in industrial conglomerate Rolls-Royce jumped by 14% in London after the company released its annual results. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| |
| Key Market Stats | Latest | Today's Change | | | Oil | $62.12 | -0.48 / -0.77% | | | Gold | $1,333.70 | -1.50 / -0.11% | | | 10-yr | 2.88% | 0.00 / 0.00% | | | Euro | $1.24 | +0.00 / +0.09% | | | |
| |
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