The U.S. hiked tariffs on more than $200 billion in goods from China on Friday in the most dramatic step yet of President Donald Trump’s push to extract trade concessions, deepening a conflict that has roiled financial markets and cast a shadow over the global economy.
China immediately said in a statement it is forced to retaliate, though hadn’t specified how as of 12:20 p.m. in Beijing. The move came after discussions between President Xi Jinping’s top trade envoy and his U.S. counterparts in Washington made little progress on Thursday, with the mood around them downbeat, according to people familiar with the talks. The negotiations were due to resume on Friday morning Washington time.
Asian shares pared gains and U.S. equity futures slipped. The yuan rallied for the first time in seven sessions on Friday.
Ahead of the talks on Thursday, Trump also said the U.S. would go ahead with preparations to impose 25% tariffs on a further $325 billion in goods from China, raising the prospect of all of China’s goods exports to the U.S. -- which were worth about $540 billion last year -- being subject to new import duties.
US After Hours ZG +19%, PBYI -31%, TRXC -24% among notable earnings/guidance movers
Nikkei -0.29% Hang Seng +0.97$ CSI +2.36% Shanghai +1.92% Shenzen +2.41%
Eur$ 1.1227 CNH 6.8348 CNY 6.8037 JPY 109.72GBP 1.3001 CHF 1.0143 RUB 65.1900 TRY 6.1248 WTI $ 61.99 +0.45%
S&P -0.23% EuroStoxx +0.78% FTSE +0.70% Dax +0.74% SMI +0.53%
Macro :
- Watch Cybersecurity Stocks After Symantec and ForeScout Plunge
- Global Equity Funds See Biggest Outflows This Year on Trade War
- China Says It’s Forced to Retaliate;Willing to Talk With U.S.(1)
Keep an eye on :
- ABI BB : Anheuser-Busch InBev Asia Pacific Unit Files for H.K. IPO (1)
- ADP FP : France Won’t Decide on ADP Privatization Pending Referendum: AFP
- AF FP : Air France-KLM April Passenger Traffic Rose 9.2%
- AIR FP : Air Lease Sees Airbus Jet-Delivery Delays Stretching Through ’21
- AIR FP : Pratt Is Said to Find Cause of A320 Neo Vibrations (Correct)
- AKER NO : Aker 1Q Net Asset Value Per Share NOK757 Vs. NOK562 Q/q
- AAPL US : Apple EPS Could Fall 23% in Worst Trade Scenario: Morgan Stanley
- ARCUS NO : Arcus First Quarter Pretax Loss Misses Lowest Estimate
- ATC NA : Altice Europe 1Q Adj. Ebitda Up 4% YOY; 1Q Rev. EU3.52B
- ATC NA : Altice Europe Aims For Portugal Fiber Stake Sale By End of 2Q
- ANA SM : Acciona First Quarter Net Income 3.5% Above Estimates
- ANA SM : Acciona Confident on FY Guidance After Slow Ebitda-Level Start
- BCP PL : BCP First Quarter Net Income EU153.8 Mln
- BCP PL : BCP Expects ’Good Relationship’ With Sonangol to Continue: CEO
- BC8 GY : Bechtle First Quarter Revenue Beats Highest Estimate
- BEFB BB : Befimmo First Quarter Adjusted EPS EU0.72 Vs. EU0.98 Y/y
- BPE IM : BPER Banca First Quarter Net Income Beats Estimates
- CLNV FP : Cellnovo’s Compulsory Liquidation Proceedings Initiated
- COL SM : Colonial First Quarter Recurring Ebitda EU69 Mln (1)
- CE IM : Credito Emiliano First Quarter Net Income Beats Highest Estimate
- DECB BB : Deceuninck Says Timing of Recovery in Turkey Less Predictable
- DPW GY : Deutsche Post First Quarter Revenue EU15.35B as Profit Jumps
- ERICB SS : Cevian Says There Is No Doubt Ericsson Will Reach Its Targets
- EL FP : EssilorLuxottica Chair, Vice-Chair Seek to Resolve Dispute: FT
- FCT IM : Fincantieri First Quarter Ebitda Meets Estimates
- G1A GY : GEA Plans Restructuring; 1Q Revenue Matches Estimates
- HEIJM NA : Heijmans Says 1Q Order Book ‘Healthy’, Reiterates Outlook ’19
- IDR SM : Indra 1Q Net EU18m, up 71% from Yr Ago; Confirms Guidance
- JUN3 GY : Jungheinrich First Quarter Ebit Meets Estimates
- KER FP : Kering Says Italy Tax Settlement Total Required Payment EU1.25b
- KOG NO : Kongsberg First Quarter Net Income Beats Highest Estimate
- MMB FP : Lagardere Holder Amber Capital Renews Pressure Ahead of AGM
- LHN SW : LafargeHolcim to Sell Stake in Holcim Philippines to San Miguel, Philippines' Sale Puts Agile LafargeHolcim on Target: BI React
- MDM FP : Maisons Du Monde Confirms FY Guidance; 1Q Sales EU280M
- MT IM : Maire Tecnimont Falls Most in 6 Months on 1Q Revenue Decline
- MB IM : Mediobanca CEO Says Studying Possible Kairos Acquisition
- MONC IM : Moncler First Quarter Revenue EU378.5 Mln
- KN FP : Natixis 1Q Net EU764M; Est. EU662M
- KN FP : Natixis Trading Slump Drags On With 34% Fixed-Income Plunge
- NVG PL : Navigator Co First Quarter Net Income EU49.3 Mln
- NIBEB SS : Nibe Divests Schulthess Maschinen for CHF150M Cash, Debt Free
- NN NA : Nationale-Nederlanden Joins Caser Bidding Process: Expansion
- OTELLO NO : Otello First Quarter Revenue $51.5 Mln Vs. $66.9 Mln Q/q
- POLN SW : Polyphor Temporarily Halts Enrollment in 2 Murepavadin Studies
- SBMO NA : SBM Offshore Gets Contracts for ExxonMobil FPSO Liza Unity
- SPM IM : Saipem Says Explosion Occurred on Vessel in Caspian Sea
- SAGAA SS : Sagax to Offer Up to 5.9m Shares via ABG Sundal Collier
- SAND SS : Sandvik CEO: SMT a Great Investment at SEK15 Billion Valuation
- SPU NO : Spectrum First Quarter Revenue Misses Lowest Estimate
- SWECB SS : Sweco First Quarter Operating Profit Beats Highest Estimate
- TEF SM : *TELEFONICA 1Q UNDERLYING OIBDA EU3.73B, EST. EU3.75B
- TEF SM : Telefonica 1Q Under. OIBDA Meets Est.; Reiterates Guidance
- TOD IM : Tod's First Quarter Sales Miss Lowest Estimate
- TUI LN : Virgin Atlantic Bids for Thomas Cook Long-Haul Unit: Sky
- UBER US : Uber Raises $8.1 Billion in IPO Priced Near Bottom of Range (1)
- UNI IM : Unipol First Quarter Net EU171 Mln
- US IM : UnipolSai 1Q Net Gains 11%; 3-Year Cumulative Net Seen at EU2b, UnipolSai Combined Ratio 93.4%
- WDI GY : Wirecard Holder Goldman Sachs Reports 4% Stake Inc. Instruments