1. Bears in Hong Kong: Hong Kong's stock market is crumbling on mounting fears of an escalating trade war between the United States and China, and concerns about slowing economic growth in China. A decline in China's currency, the yuan, has made it more expensive for Chinese investors to buy Hong Kong stocks because they are priced in the Hong Kong dollar, which is pegged to the US dollar. Fears about the stability of emerging markets are adding to the overall nervousness.
|
 |
| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -98.00 | | -18.75 | | -6.50 | | -0.38% | | -0.25% | | -0.23% | | | |
| |
| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +291.60 | | -4.68 | | -44.90 | | 22,664.69 | | 2,664.80 | | 7,234.40 | | +1.30% | | -0.18% | | -0.62% | | | |
| |
| | | Biggest Winners | | Advanced Micro Devices Inc | +1.24% | | | | XL Group Ltd | +0.88% | | | | Nike Inc | +0.73% | | | | General Motors Co | +0.47% | | | Biggest Losers | | Western Digital Corp | -1.56% | | | | Expeditors International of Washington Inc | -1.30% | | | | Lam Research Corp | -1.23% | | | | Johnson Controls International PLC | -0.94% | | | | | | | |
| |
| |
| News: What you need to know about the markets | | | | | | | Hong Kong bear market; Japan's chip deal; Alibaba in Russia | | By Ivana Kottasová | | | | 1. Bears in Hong Kong: Hong Kong's stock market is crumbling on mounting fears of an escalating trade war between the United States and China, and concerns about slowing economic growth in China. | | | | A decline in China's currency, the yuan, has made it more expensive for Chinese investors to buy Hong Kong stocks because they are priced in the Hong Kong dollar, which is pegged to the US dollar. Fears about the stability of emerging markets are adding to the overall nervousness. | | | | The Hang Seng index fell into a bear market on Tuesday, closing 0.7% lower for the day to stand more than 20% below its recent peak in January. There's been a bear market in stocks in mainland China since late June. | | | | President Donald Trump said Friday he's prepared to impose another huge wave of tariffs on $267 billion of Chinese products. | | | | On top of tariffs already in place or in the works, such a move would apply new taxes to the entire $505 billion of goods the United States imported from China last year. | | | | 2. Chip deal: Japan's Renesas Electronics Corp is buying American chip maker Integrated Device Technology Inc for $6.7 billion. | | | | Renesas Electronics said the acquisition will strengthen its position in the automotive market, adding that it expected to see "tremendous growth with autonomous driving." | | | | Shares in Renesas surged 4.5%. | | | | 3. Alibaba's Russia deal: Alibaba wants to help Russia go big in online shopping. The Chinese e-commerce giant announced a new joint venture with Russian telecoms company MegaFon, internet group Mail.Ru and Russia's sovereign wealth fund. | | | | The joint venture, AliExpress Russia, will integrate Russia's key consumer internet and e-commerce platforms to "become a leading social commerce joint venture in Russia," the companies said. | | | | 4. Global market overview: US stock futures were mixed early on Tuesday. | | | | European markets were struggling to find direction. Asian markets ended the session mixed. Japanese Nikkei closed 1.3% higher. | | | | The Dow Jones industrial average closed 0.2% lower on Monday. The S&P 500 gained 0.2%, while the Nasdaq closed flat. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Companies and economics: Shares in Tencent dropped 1.8% in Hong Kong on Tuesday. The Chinese tech company said Monday it was shutting down its popular "Texas Everyday Hold'em" game. | | | | Tesla CEO Elon Musk announced Tuesday the company will reduce the number of car colors on offer to five from seven to "simplify manufacturing." Tesla is scrambling to ramp up Model 3 production fast enough to turn a profit — and use that money for looming debt payments. | | | | Latest data in the United Kingdom showed the unemployment rate was 4% in the three months to July, the lowest in more than four decades. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Tuesday — UK reports its unemployment rate
Wednesday — Brookings Institution hosts a panel on the financial crisis, Apple announces its new products
Thursday — Kroger reports earnings, US consumer inflation report, European and UK central banks report interest rate decisions
Friday — US retail sales and consumer sentiment reports | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $67.74 | +0.20 / +0.30% | | | Gold | $1,198.90 | -0.90 / -0.08% | | | 10-yr | 2.94% | -0.01 / -0.17% | | | Euro | $1.16 | -0.00 / -0.01% | | | |
| |
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 WarnerMedia 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