U.S. Stocks Set Up for More Losses as Geopolitical Worries Persist

U.S. stock futures fell on Wednesday as geopolitical and trade concerns continued to nag at investors, taking the wind out of a rally seen at the start of the week.

Earnings from Target Corp. and then later the release of minutes from the latest Federal Open Market Committee meeting are among the highlights of the session ahead.

Dow Jones Industrial Average futures slipped 54 points, or 0.2%, to 24,792, while S&P 500 futures lost 5.6 points, or 0.2%, to 2,720.50. Nasdaq-100 futures fell 29.75 points, or 0.4%, to 6,879.75.

On Wednesday, the Dow Jones Industrial Average dropped 178.88 points, or 0.7%, to reach 24,834.41. The S&P 500 lost 0.3% to end at 2,724.44, while the Nasdaq Composite Index shed 15.58 points, or 0.2%, to close at 7,378.46.

Source : Marketwatch

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Sumber : bpfnews.com

ZTE Is Said to Face at Least $3 Billion in Losses From U.S. Ban

ZTE Corp. is estimating losses of at least 20 billion yuan ($ 3.1 billion) from a U.S. technology ban that’s halted major operations as clients pull out of deals and expenses mount, people familiar with the matter said.

The telecoms gear and smartphone maker however is hopeful of striking a deal soon and already has a plan in place — dubbed “T0” — to swing idled factories into action within hours once Washington agrees to lift its seven-year moratorium on purchases of American chips and components, said the people, who asked not to be identified talking about private negotiations. The company declined to comment.

Shenzhen, China-based ZTE depends on U.S. components, such as chips fromQualcomm Inc., to build its smartphones and networking gear. The ban, for breaching terms of a settlement over sanction-breaking sales to Iran, has all but mothballed China’s second-largest telecoms gear maker and become entangled in a trade dispute between the world’s two largest economies. On Tuesday, President Donald Trump said he’s reconsidering U.S. penalties as a favor to Chinese President Xi Jinping and may instead fine the company more than $ 1 billion.

Source : Bloomberg

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U.S. stocks end at two-month highs as trade concerns wane

U.S. stocks closed solidly higher on Monday, with industrial stocks leading the market higher as concerns over a potential trade war with China showed signs of fading.

The Dow Jones Industrial Average rose 1.2% to 25,013. The S&P 500 gained 0.7% to 2,733. The Nasdaq Composite Index added 0.5% to 7,394. Both the Dow and the S&P closed at their highest level in about two months. The Russell 2000 index of small capitalization stocks rose 0.5%, ending at a record for a fourth straight day.

The mood was upbeat after Treasury Secretary Steven Mnuchin said over the weekend that the Trump administration would delay implementation of tariffs on Chinese goods and “put the trade war on hold” while working out details of a deal between the countries. Industrial stocks are seen as having some of the highest exposure to trade issues, and the sector led the market’s gains on Monday. Boeing Co. rose 3.6% while Caterpillar Inc. added 2.1%.

Source: Marketwatch

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Sumber : bpfnews.com

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