SEVERE WX : Heat Advisory View Alerts

Trump on trade; Brexit jitters; End of the soup wars

1. Trump threats: President Donald Trump appears to be shutting the door on a ceasefire in ...

Posted: Nov 27, 2018 12:16 PM
Updated: Nov 27, 2018 12:16 PM

1. Trump threats: President Donald Trump appears to be shutting the door on a ceasefire in the trade war with China just days before a crucial summit.

Trump told the Wall Street Journal that it was "highly unlikely" he would accept an offer by Chinese President Xi Jinping aimed at averting higher tariffs on more than $200 billion of Chinese goods in January.

Banking, finance and investments

Business and industry sectors

Business, economy and trade

Company activities and management

Company earnings

Consumer products

Continents and regions

Economic indicators

Economic policy

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

Government organizations - US

Holiday retail

Interest rates

International trade

Monetary policy

North America

Seasonal retail

Securities trading

Stock indexes

Stock markets

The Americas

The Fed

Trade and development

United States

US federal departments and agencies

US government independent agencies

Wall Street

Donald Trump

International trade law

Political Figures - US

Tariffs and customs

Trade regulation and policy

Government and public administration

Government bodies and offices

Politics

US federal government

White House

Companies

Facebook

Unrest, conflicts and war

Brexit

Europe

European Union

Government organizations - Intl

Northern Europe

United Kingdom

He also warned he would put yet another round of tariffs on Chinese goods if the two leaders fail to broker an end to the dispute when they meet later this week in Buenos Aires, Argentina, on the sidelines of the G20 summit.

"If we don't make a deal, then I'm going to put the $267 billion additional on," said Trump in the interview, adding the tariff level could either be 10% or 25%.

Trump said the tariffs could hit Apple products imported from China including iPhones. Shares in Apple (AAPL), which have already fallen 25% since early October, moved lower in extended trading.

2. Brexit worries: Trump also weighed in on Brexit, warning that the deal negotiated by Prime Minister Theresa May could make it difficult for the country to trade with the United States.

The comments helped push the pound 0.7% lower against the dollar on Tuesday. The deal's fate could be decided as soon as December 11, when May will seek to push it through the parliament.

The United Kingdom has previously expressed a desire to negotiate a free trade deal with the United States.

3. Market overview: US stock futures were lower on Tuesday. Stocks in Asia and Europe were mixed.

Kit Juckes, an analyst at Societe Generale, said that a lack of economic news was encouraging investors to focus on the G20, Brexit and Italy's budget dispute with the European Union.

"If I have to weight these three topics, the G20 meeting is the one that is both imminent [and] most likely to move markets," he said. "I think the underlying tone is pessimistic."

The Dow closed up 1.5% on Monday. The S&P 500 gained 1.6% and the Nasdaq added 2.1%. Tech stocks led the way higher, with Amazon (AMZN) and Twitter (TWTR) climbing more than 5%.

4. End of the soup wars: An intense fight for control of Campbell Soup (CPB) is over.

For months, activist investor Daniel Loeb's hedge fund Third Point has been attempting to overhaul the soup company's board and install its own directors.

On Monday, both sides agreed to end the proxy fight and expand the Campbell board from 12 to 14 members. Two of the five nominees suggested by Third Point will be added to the board.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

5. Company news: Cracker Barrel (CBRL) will release earnings before the open. Salesforce (CRM) will follow after the close.

Facebook (FB) faces a potential showdown with lawmakers in London. Representatives from nine countries have gathered for an international hearing on disinformation, starting at 5:30 a.m. ET.

There is a chance that UK lawmakers will use the event to reveal internal documents Facebook has been trying to keep from the public.

Markets Now newsletter: Get a global markets snapshot every afternoon. Sign up now!

6. Coming this week:
Tuesday — Cracker Barrel (CBRL) and Salesforce (CRM) earnings
Wednesday — J M Smucker (SJM), Box (BOX) and Tiffany (TIF) earnings; US GDP second estimate
Thursday — Dollar Tree (DLTR), Abercrombie & Fitch (ANF) and HP (HPQ) earnings; Fed notes released
Friday — G20 begins in Argentina

Article Comments

Huntsville
Broken Clouds
87° wxIcon
Hi: 89° Lo: 73°
Feels Like: 96°
Florence
Scattered Clouds
92° wxIcon
Hi: 91° Lo: 74°
Feels Like: 102°
Fayetteville
Few Clouds
90° wxIcon
Hi: 90° Lo: 72°
Feels Like: 98°
Decatur
Clear
88° wxIcon
Hi: 90° Lo: 73°
Feels Like: 98°
Scottsboro
Clear
86° wxIcon
Hi: 89° Lo: 72°
Feels Like: 99°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

Community Events