The U.S. goods trade deficit widened sharply in December as slowing global demand and a strong dollar weighed on exports, another sign that economic growth slowed in the fourth quarter.
U.S. issues with China are “too serious” to be resolved with promises from Beijing to purchase more U.S. goods and any deal between the two countries must be include a way to ensure commitments are met, U.S. Trade Representative Robert Lighthizer said in testimony at a Congressional hearing on Wednesday.
U.S. stocks added to losses on Wednesday after U.S. Trade Representative Robert Lighthizer said U.S. issues with China are “too serious” to be resolved by promises of more purchases of U.S. goods by Beijing.
Mylan NV shares slid 10 percent on Wednesday after the generic drug maker predicted poor 2019 earnings that led some Wall Street analysts to wonder if its finances would worsen further.
The U.S. goods trade deficit widened sharply in December as slowing global demand and a strong dollar weighed on exports, another sign that economic growth slowed in the fourth quarter.
U.S. stocks opened slightly lower on Wednesday, as the second U.S.-North Korean nuclear summit kicked off and tensions flared up between nuclear-armed neighbors India and Pakistan.
Ford Motor Co’s joint venture with China Changan Automobile Group has decided not to renew its contract with some agencies supplying it with workers, as carmakers struggle to cope with slumping sales in China.
Best Buy Co Inc gave an upbeat profit forecast for the year while reporting better-than-expected holiday-quarter sales on Wednesday, as it benefited from higher demand for wearable devices, gaming consoles and appliances.
Wall Street was set to open slightly lower on Wednesday, mirroring losses in global markets, as the second U.S.-North Korean nuclear summit kicked off and tensions flared up between nuclear-armed neighbors India and Pakistan.
Off-price apparel retailer TJX Cos Inc reported better-than-expected quarterly same-store sales on Wednesday, as steep discounts drove more shoppers to its T.J. Maxx and Marshalls stores during the holiday season.
Volkswagen said on Wednesday it had struck a deal with Microsoft to cooperate on cloud computing in China and the United States, as part of its drive to offer connected vehicle services across the globe.
U.S. home improvement chain Lowe’s beat Wall Street earnings forecasts on Wednesday, but reported disappointing sales growth as it predicted more weakness in Canada following the closure of dozens of unprofitable stores.
Oil rallied for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U.S. President Donald Trump on OPEC to prevent steeper price rises.
Drugs and lab supplies maker Merck KGaA is offering to buy Versum Materials in a cash deal valuing it at $5.9 billion including debt, pitting the German group against Entegris which last month also bid for the electronic materials maker.
Campbell Soup Co on Wednesday reported better-than-expected adjusted earnings, helped by its acquisitions of Snyder’s-Lance and Pacific Foods.
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