U.S. stocks reversed course to trade higher on Wednesday after a report that President Donald Trump may delay a decision to impose auto tariffs, offering respite to markets worried about slowing global growth after a batch of weak economic data.
French video game producer Ubisoft on Wednesday reported fourth-quarter net bookings of 676.7 million euros, below company’s expectations of approximately 698.0 million euros.
Shares of Beyond Meat rose as much as 16% on Wednesday after Restaurant Brands International Inc’s coffee chain Tim Hortons said it had launched breakfast sandwiches with the vegan burger marker’s plant-based sausages.
U.S. and European stock indexes erased losses and turned positive on Wednesday after news that U.S. President Donald Trump planned to delay tariffs on auto imports, outweighing earlier pressure on equities and government bond yields caused by weak U.S. and Chinese economic data.
Macy’s Inc said on Wednesday the recent tariffs on Chinese imports by Washington is hitting the department store operator’s furniture business and executives cautioned that additional trade levies would leave its clothing and accessory categories vulnerable.
U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing at some point soon to continue trade talks with Chinese counterparts, adding that there was “still a lot of work to do.”
Tencent Holdings Ltd posted record quarterly profit on Wednesday, smashing market expectations, as the social media and gaming giant booked a rise in the value of its investments while fintech and cloud revenues helped make up for declines in games.
U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, pointing to a slowdown in economic growth after a temporary boost from exports and inventories in the first quarter.
Ford Motor Co plans to start production of new luxury Lincoln models in China for that market as they are launched, starting with the new Corsair later this year, to benefit from lower costs and avoid the risk of tariffs, a top executive said on Monday.
Russia may sell contaminated oil at a discount, Energy Minister Alexander Novak was quoted as saying on Wednesday by Interfax news agency.
Senior officials from Boeing Co and a U.S. aerospace industry trade group on Wednesday urged the U.S. government to narrowly tailor any tariffs imposed on the European Union over illegal aircraft subsidies to avoid harming American manufacturers.
The bills are due for millions of barrels of contaminated Russian oil that have been stuck for weeks in pipelines from Belarus to Germany – but no one wants to pay.
U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, pointing to a slowdown in economic growth after a temporary boost from exports and inventories in the first quarter.
Declining output of cars and machinery led U.S. factory production to fall unexpectedly in April, a sign the economy is losing a step as a trade war with China intensifies.
Wall Street was set to open lower on Wednesday, as a surprise fall in domestic retail sales and underwhelming data from China raised growth concerns, while investors waited for more developments on the U.S.-China trade dispute.
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