Wednesday, 12 December, 2018

Global shares slip on doubts over US-China trade deal

US markets sink on worries over slowing growth, trade truce outcome Dow plunges nearly 800 pts: Aus share to drop at open
Rhonda Young | 06 December, 2018, 04:28

A day after global stocks rallied on a weekend US-China announcement suspending new tariffs, global markets mostly pulled back as investor focus shifted to the murkiness over what was agreed to and the difficulty reaching resolution to disputes on thorny matters such as intellectual property.

The S&P 500 lost 63 points, or 2.3 per cent, to 2,727. Toll's shares slumped 9.5 percent to $30.33.

The Toronto Stock Exchange's S&P/TSX composite index was down 197.31 points, or 1.29 per cent, at 15,077.67.

"Violent volatility resumed as tumbling bond yields, a flattening yield curve and lingering questions about the G20 US-China trade truce combined to stoke increasing recession fears".

The focus now is on the spread between the two-year and 10-year yields, currently at its narrowest in over a decade and whose inversion has preceded the past three U.S. recessions.

Huawei CFO arrested in Canada, says justice ministry
Officials for the Canadian and US Justice Departments did not immediately respond to a request for comment. Department of Justice was investigating whether Huawei violated U.S. sanctions against Iran.

The technology sector fell 2.80%, while industrials dropped 3.47% over a lack of specifics on the Sino-US trade truce, including no written commitments and when the truce period starts. The slide in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on bank stocks. Citigroup fell 4.5 percent to $62.26. A report issued Tuesday from a Swiss freight company noted that global trade grew just 0.3 percent last month, compared to 3.1 percent for November 2017. Hovnanian Enterprises led most builders lower, giving up 10.3 per cent to $1.10.

Apple lost 4.4 percent to $176.69 after the consumer electronics giant was downgraded by HSBC analysts, citing the possibility that iPhone volume and value growth may moderate due to a saturated mobile phone market.

DISAPPOINTING DOLLAR: Discount retail chain Dollar General slid 5.6 percent to $105.50 after the company reported weak quarterly results.

Oil prices rose. OPEC members are expected to agree at a Thursday meeting to cut output in 2019. Benchmark U.S. crude rose 0.6 per cent to $53.27 per barrel in NY. The Shanghai Composite index lost 0.5 percent to 2,653.54 and Australia's S&P ASX 200 dropped 1.3 percent to 5,641.10. Brent crude, the global standard, added 0.9 per cent to $62.22 per barrel in London.

The dollar weakened to 112.82 yen from 113.69 yen late Monday. The euro declined to $1.1330 from $1.1343. The British pound fell to $1.2727 from $1.2728 after a top official at the European Union's highest court advised that Britain can unilaterally change its mind about leaving the EU as scheduled on March 29.

Doug Baldwin happy Richard Sherman received tribute from Seahawks
The ball wound up in the hands of linebacker Malcolm Smith , who was also in the house as he is also now a member of the 49ers. Sure it's a little odd when you consider Sherman plays for the Niners now. "Our receivers were excellent tonight.

Small-company stocks, which investors see as more risky than large multinationals, fell more than the rest of the market.

The S&P 500 lost 61 points, or 2.2 percent, to 2,729. The FTSE 100 index of leading British shares slid 0.6 per cent.

The S&P 500 index lost 8 points, or 0.3 per cent, to 2,782.

In Asia early Wednesday benchmarks fell by no more than 1.5 percent, the loss for the Hang Seng index in Hong Kong, which was at 26,860.43 by mid-morning. Silver rose 1 percent to $14.64 an ounce.

Chevrolet Silverado HD Has A Crazy Amount Of Torque
Integrated steps in the bedsides are new, with Chevy saying they help with access to the available fifth-wheel hitch. Come next year, you'll be able to purchase a 2020 Silverado HD with a choice of two new powertrains.

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