1. Trump bashes TPP: President Donald Trump has renewed his attack on a huge Pacific trade pact just days after raising the possibility of the United States rejoining it. Trump ditched the Trans-Pacific Partnership spanning the United States and 11 other countries shortly after coming into office. The remaining countries went ahead with a new deal without the United States.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +35.00 | | +11.75 | | +4.75 | | +0.14% | | +0.17% | | +0.18% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +310.61 | | +24.60 | | +50.65 | | 22,158.20 | | 3,091.40 | | 7,276.70 | | +1.42% | | +0.80% | | +0.70% | | | |
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| | | Biggest Winners | | eBay Inc | +3.42% | | | | Intuitive Surgical Inc | +3.34% | | | | United Continental Holdings Inc | +3.22% | | | | SCANA Corp | +2.15% | | | Biggest Losers | | Lam Research Corp | -4.82% | | | | International Business Machines Corp | -4.80% | | | | Micron Technology Inc | -1.07% | | | | Newmont Mining Corp | -0.92% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Trump bashes TPP; Tesla's Model 3 ambitions; Starbucks shutdown | By Ivana Kottasová
Wednesday, April 18th, 6:17am | | | | 1. Trump bashes TPP: President Donald Trump has renewed his attack on a huge Pacific trade pact just days after raising the possibility of the United States rejoining it. | | | | Trump ditched the Trans-Pacific Partnership spanning the United States and 11 other countries shortly after coming into office. The remaining countries went ahead with a new deal without the United States. | | | | Last week, Trump asked his top trade and economic advisers to investigate "whether or not a better deal could be negotiated," the White House said. | | | | But Trump tweeted on Wednesday that he thought the TPP was a bad deal for the world's biggest economy. | | | | "While Japan and South Korea would like us to go back into TPP, I don't like the deal for the United States," he tweeted. | | | | 2. Tesla model 3 ambitions: Shares in Tesla climbed higher in extended trading after automotive news website Electrek said the carmaker is aiming to ramp up production of the Model 3 to 6,000 per week by the end of June. | | | | The report cited a letter to employees from Chief Executive Elon Musk. | | | | Tesla temporarily suspended production of the Model 3 sedan on Monday to work out kinks in its assembly line. The announcement battered the stock, adding to worries about Tesla's ability to scale up. | | | | 3. Starbucks racial bias training: Starbucks will close its 8,000 company-owned stores in the United States on May 29 to educate employees about racial bias. | | | | The announcement late Tuesday follows an uproar over the arrest of two black men who were waiting for a friend at a Philadelphia Starbucks last week. The store manager called the police. | | | | The racial bias training will be provided to about 175,000 workers. | | | | 4. Global market overview: US stock futures were higher early on Wednesday, pointing to a third straight day of gains on Wall Street. | | | | Major stock markets in Europe and Asia were also up. | | | | The Dow Jones industrial average closed 0.9% higher on Tuesday, while the S&P 500 was 1.1% up. | | | | The Nasdaq soared 1.7%, helped by a big jump in Netflix which surged 9% after blowout results. | | | | Prices of aluminum jumped to the highest levels since 2011, after Reuters reported that Japanese traders have asked Russia's Rusal to stop shipping aluminum because of US sanctions. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: Morgan Stanley is set to report its earnings before the opening bell. | | | | American Express and Alcoa will follow after the markets close. | | | | Shares in British passport maker De La Rue dropped 6% in early London trade after the company issued a profit warning. De La Rue also said it would not appeal the UK government's decision to award a contract to print new passports to a French company instead. | | | | US crude inventories data will be published at 10:30 a.m. ET. Oil prices have been volatile in recent days because of tension in the Middle East. US crude futures were 0.9% higher, trading at $67 per barrel. | | | | The Federal Reserve will release its Beige Book economic report at 2 p.m. ET | | | | The Bank of Canada's interest rate meeting is scheduled for 9 a.m. ET. | | | | Latest inflation data from the UK showed prices rose 2.5% year on year in March, down from 2.7% in February. The pound dropped 0.7% against the dollar after the data was published. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Wednesday — Morgan Stanley, American Express earnings
Thursday — BNY Mellon earnings
Friday — State Street, Procter & Gamble, GE earnings | | | | Correction: A previous version of this article incorrectly stated UK inflation was 2.8% in February. It was 2.7%. | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $67.11 | +0.59 / +0.89% | | | Gold | $1,349.40 | -0.10 / -0.01% | | | 10-yr | 2.81% | 0.00 / 0.00% | | | Euro | $1.24 | -0.00 / -0.08% | | | |
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