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Home / Business / Stock Market News: August 19, 2019

Stock Market News: August 19, 2019



US. Stocks rallied on Monday morning after a stopover after a mid-August stopover. US Treasury yields rose throughout the curve, led by yields for 30-year bonds and 10-year notes GSPC): + 1.23% or 35.48 points

  • Dow (^ DJI): + 1 , 06% or 274.1

    7 points

  • Nasdaq (^ IXIC): + 1.44% or 113.69 points

  • 10-year yield (^ TNX): +5.6 basis points to 1.596% [19659005TradeMinisterWilburRosssaidduringaFoxBusinessshowonMondaymorningthatthegovernmentwillextenda90-dayfixed-termlicensethatwillallowChina'sHuaweiTechnologiestocontinuedoingbusinesswithUScompaniesThatlicensewouldhaveexpiredonMondayRosstoldFoxBusiness:"Wegivethemalittlemoretimetoweanthemselvesout"HuaweiisamemberofUScompaniessuchasQualcomm(QCOM)Intel(INTC)andMicronTechnologies(MU)asasupplier

    Ross added that 46 new Huawei subsidiaries have been added to the company list, meaning that US companies can not sell to them without a specific license. The new additions will increase the overall list of Huawei's blacklisted subsidiaries of the Ministry of Commerce to over 100.

    <p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em)) – sm" type = "text" content = "This happened after President Donald Trump on the weekend said that the US "is doing very well with China and talking!" He added in remarks to reporters on Sunday that he was not yet ready to sign a trade agreement, which underscoring the ongoing impasse between the world's two largest economies. "data-reactid =" 24 "> This happened after President Donald Trump said that the US" is doing very well with China and talking! " was not yet ready to sign a trade agreement, underscoring the ongoing impasse between the two largest economies in the world.

    During the same remarks to reporters, Trump said that Apple (AAPL) CEO Tim Cook made "a very convincing argument". why it would be difficult for the iPhone maker to compete with the South Korean Samsung when it comes to raising tariffs on Chinese imports. Much of Samsung's production takes place in South Korea, allowing the company to evade tariffs on goods from China that Apple would face in the event of a Trump government tariff widening.

    Trump originally planned to get a 10% tariff in place Chinese imports worth $ 300 billion September 1 Last week, however, he postponed some of these charges – including those for cell phones and laptops – until early December.

    Traders working on New York Stock Exchange (NYSE) in New York (USA) on August 14, 2019. REUTERS / Eduardo Munoz

    Tariffs come into force September 1, 2008 Billions worth of Chinese imports – are exp According to a JPMorgan analysis, every American household costs up to $ 1,000 a year. That's a plus of $ 600 per household so far. The cost to consumers would increase to as much as $ 1,500 per household if the new inventory rate were raised to 25%, and would add the estimated benefit of $ 1,300 to the average American household under the Trump taxation law, JPMorgan, Equalization Analysts said:

    Meanwhile, signals of increased incentives have been revealed by overseas governments in countries most affected by trade tension and a global slowdown.

    At the weekend, the People's Bank of China (PBOC) revealed an interest rate update on new bank loans that would lower real interest rates for businesses. The new quota system, derived from open market interest rate rates and coming into effect on Tuesday, will keep corporate financing costs low and help stimulate borrowing and investment as the country grows in the US-China trade war in China Be affected. [19659018] According to Monday reports, the federal government is preparing a stimulus package that could be unleashed in the event of a prolonged economic downturn. The German economy contracted 0.1% in the second quarter as emergency signals for the export-driven country increased and after the country's manufacturing sector slowed over the year.

    Fed watch

    The path to future domestic monetary policy remains firmly in focus this week, as investors take into account the risks of the trade war and a cautious stance on global central banks that have cut interest rates around the world.

    On Wednesday, the Federal Reserve will release the Federal Reserve's minutes of the political session in July, in which central bank officials submitted their first interest rate cut since 2008. The minutes will explain the deliberations of the members of the Federal Open Market Committee on this decision and provide insight into the thinking of the two dissidents. which at that time demanded that interest rates remain unchanged.

    At the end of the week, Federal Reserve Chairman Jerome Powell will give a speech on monetary policy at the annual Jackson Hole Symposium hosted by the Fed in Wyoming. Market participants widely believe that the head of the Fed will use the public statements to boost expectations for another rate cut after the central bank meeting in September, which would reduce the target range to 1.75% to 2.00% ,

    As of Monday morning, markets priced in a 92.7% probability of such a result, along with a probability of about 7% for a further 50 basis point reduction to 1.50% to 1.75%. According to CME Group.

    However, as expectations are strongly linked to the idea of ​​lower interest rates, any deviation from the reluctant rhetoric for the markets could be catastrophic, some analysts said.

    "The conclusion is that there is a risk for Powell and him. Colleagues are disappointing the bond market next week – by not signaling clearly enough that further interest rate cuts will come in mid-September and beyond," wrote Paul Ashworth, chief economist for capital economy in the US, in a note. "That could trigger a slaughter on the bond and stock markets."

    "We may not even have to wait for the launch of the Jackson Hole Symposium," he added. "The minutes of the FOMC meeting in July, due to be released on Wednesday, could also be an important factor for the market, showing that officials are resistant to multiple interest rate cuts."

    <p class = "canvas-atom canvas -text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck "data-reactid =" 66 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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