The U.S. Senate on Thursday approved a revamp of the 26-year-old North American Free Trade Agreement that includes tougher rules on labor and automotive content but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged.
The S&P 500 crossed the 3,300 mark for the first time and other stock indexes hit record highs on Thursday, as encouraging retail sales data and upbeat Morgan Stanley earnings fueled a rally following the signing of an initial U.S.-China trade deal.
U.S. retail sales increased for a third straight month in December, with households buying a range of goods even as they cut back on purchases of motor vehicles, suggesting the economy maintained a moderate growth pace at the end of 2019.
The dollar rose while key world and stock indexes on Wall Street scaled new records on Thursday as the U.S.-China trade deal, strong corporate earnings and encouraging U.S. economic data lifted equity markets.
The U.S. Senate was poised to approve a new North American trade deal on Thursday, clearing the way for a revamp of the 26-year-old NAFTA that includes tougher labor and automotive content rules but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged.
The local arm of JPMorgan said on Thursday that the bank has not received any communication from India’s Supreme Court in a case relating to past transactions between the bank and a New Delhi-based real estate firm.
European companies called on European Union policy-makers on Thursday to toughen their approach to China to secure a level playing field for European businesses.
Clean energy investment in the United States surged to a fresh record of $55.5 billion last year, despite the government’s attempts to roll back supportive policies, a report showed on Thursday.
U.S. electric car maker Tesla plans to open a design and research center in China to make “Chinese-style” vehicles, the company said in a recruitment notice on its official WeChat account.
U.S. retail sales increased for a third straight month in December, with households buying a range of goods even as they cut back on purchases of motor vehicles, suggesting the economy maintained a moderate growth pace at the end of 2019.
Oil rose on Thursday as the long-awaited Phase 1 trade deal between the United States and China brought some relief to markets, but the gains were capped after the International 7Energy Agency said it expected oil production to outpace demand.
Volkswagen needs to accelerate the overhaul of its business to avoid becoming another Nokia , which lost its dominance in the handset market to Apple , the German carmaker’s chief executive said.
The S&P 500 crossed 3,300 for the first time and the Dow and the Nasdaq opened at new highs on Thursday, after the United States and China signed an initial trade deal and Morgan Stanley wrapped up big bank earnings on a strong note.
Southwest Airlines Co said on Thursday it is extending cancellations of Boeing Co 737 MAX flights until June 6, citing the planemaker’s decision to recommend pilot simulator training before resuming flights and uncertainty about when regulators will approve their return to service.
U.S. stocks were poised to open at record highs on Thursday, after the United States and China signed an initial trade agreement and Morgan Stanley wrapped up big bank earnings on a strong note.
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