Wall Street’s main indexes were subdued on Tuesday, as a trade truce-fueled relief rally in the previous session fizzled out after the United States threatened additional tariffs on European goods.
Oil prices fell more than 3% on Tuesday, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried that a slowing global economy could dent oil demand.
Major automakers on Tuesday posted mixed U.S. sales results for June and the second quarter, with demand still fairly strong for SUVs and pickup trucks while passenger car sales continued a long-running decline.
Apple’s main regulator in the European Union, Ireland’s Data Protection Commissioner (DPC), has opened a third privacy investigation into the iPhone maker over the last few weeks, a spokesman for the DPC said on Tuesday.
U.S. President Donald Trump’s move to relax a ban on Huawei Technologies Co Ltd’s equipment will not have “much impact” on its business as it adjusts to a new era of American hostility, the Financial Times quoted Huawei founder Ren Zhengfei as saying on Tuesday.
The global stocks rally that followed progress on U.S.-China trade relations stalled on Tuesday, pressured by weak manufacturing data from the euro zone and the United States, and as Washington threatened additional tariffs on European goods.
Credit Suisse wealth management boss Iqbal Khan is leaving Switzerland’s second-largest bank in the latest high-level departure under Chief Executive Tidjane Thiam.
Facebook’s fledging cryptocurrency will raise questions for both society and government that need close examination, a senior official at Britain’s financial watchdog said on Tuesday, in another sign that the planned project will face deep scrutiny.
U.S. stocks edged lower on Tuesday, a day after a record-setting rally, as optimism sparked by the U.S.-China trade truce waned after Washington threatened tariffs on $4 billion of additional EU goods.
Investment banks are scrambling to re-pitch to advise Saudi Aramco on a possible initial public offering, sources familiar with the matter said, with Saudi Arabia’s energy minister confirming plans for the listing to proceed in 2020 or 2021.
White House trade adviser Peter Navarro said on Tuesday U.S. trade talks with China are heading in the right direction and it will take time to get the right deal made.
Automakers including Fiat Chrysler Automobiles NV and Hyundai Motor Co on Tuesday reported a rise in U.S. sales for June, lifted by strong demand for sport utility vehicles and trucks. Automakers have focused on selling the more profitable larger SUVs and trucks and had offered heavy discounts of up to 30% or more on their most popular models in June amid a slowdown in the broader market.
Fiat Chrysler Automobiles NV and Hyundai Motor Co reported a nearly 2% rise in U.S. sales for the month of June, helped by strong demand for sport utility vehicles and trucks.
German authorities have fined Facebook 2 million euros ($2.3 million) for under-reporting complaints about illegal content on its social media platform in breach of the country’s law on internet transparency.
U.S. stocks opened flat on Tuesday, following a record-setting rally in the previous session, as optimism over U.S.-China trade talks waned after Washington threatened tariffs on $4 billion worth of additional European goods.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
