Tensions over trade, the turbulent Brexit discussions, and trouble in China and emerging markets could rock a U.S. financial system where asset prices are “elevated” and business credit quality may be “deteriorating,” the U.S. Federal Reserve said in a first-ever report devoted to financial stability.
Sales of new U.S. single-family homes tumbled to a more than 2-1/2-year low in October amid sharp declines in all four regions, further evidence that higher mortgage rates were hurting the housing market.
U.S. stocks gained on Wednesday on hopes of a trade truce between the United States and China at the upcoming G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
U.S. stocks opened higher on Wednesday on hopes of a trade truce between the United States and China at the G20 Summit, and as investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
Danske Bank said the Danish state prosecutor had filed preliminary charges against the bank for allegedly violating the country’s anti-money laundering act in relation to it Estonian branch.
Daimler will start building electric cars in China next year as a way to meet Beijing’s stringent anti-pollution quotas for carmakers, even as demand for conventional models like the Mercedes-Benz Maybach remains strong.
The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.
President Donald Trump on Wednesday retweeted a suggestion that General Motors Co should pay back the money the government spent to keep it afloat as part of the auto industry bailout if it doesn’t keep jobs in the country.
Wall Street was set to open higher on Wednesday on hopes of a trade truce between the United States and China at the G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
General Motors Co’s monumental announcement on Monday that it will close three car assembly plants in North America and slash its workforce will only partially close the gap between capacity and demand for the automaker’s sedans, according to a Reuters analysis of industry production and capacity data.
President Donald Trump said on Wednesday General Motors Co should pay back the money the government spent to keep it afloat as part of the auto industry bailout if it doesn’t keep jobs in the country.
The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year.
Fears of a prolonged U.S.-China trade war and a potentially overzealous Federal Reserve have left Wall Street strategists less optimistic about stock market gains next year, but they still expect a decent increase, a Reuters poll found.
General Motors Co and fellow Detroit automakers Ford Motor Co and Fiat Chrysler Automobiles NV continue to winnow production of cars in North America as demand for traditional sedans wanes. GM announced on Monday it will halt production at three North American assembly plants and slash thousands of jobs.
Tiffany & Co’s sales in the United States and Hong Kong took a hit in the latest quarter as Chinese tourists spent less than expected, sending the jewelry maker’s shares down nearly 8 percent on Wednesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
