Trade War Intensifies Wall Streets New Obsession
Stocks Have Recovered for Now But Peril Lurks Ahead for Markets
After a tumultuous Monday, stocks appear to have shaken off some of the malaise that saw shares tumble from New York to Sydney. That doesn’t guarantee smooth sailing ahead.
Everything from economic growth to bond-market signs and valuations is signaling there could still be trouble ahead for U.S. equities, according to strategists and investors.
Tesla considers raising prices in China from September: sources
BEIJING (Reuters) – U.S. electric vehicle maker Tesla Inc is considering lifting its prices in China from September amid yuan-related uncertainty, two people familiar with the matter said.
Tesla currently imports all the cars it sells in China, but it is in the process of building a factory in Shanghai that will manufacture Model 3 cars in the initial phase and help it minimize the impact of the trade war and tariffs.
This will be Wall Street’s new obsession as the trade war intensifies
Following Monday’s market meltdown traders will take their cues from the Chinese central bank and where it sets the midpoint for the country’s currency, the yuan, as trade tensions between China and the U.S. increase.
Every night at 9 p.m. ET, the People’s Bank of China fixes a level at which the yuan will trade against the dollar within China. The central bank last night set it at a stronger-than-expected level versus the greenback, helping U.S. stocks rebound on Tuesday from their worst day of the year.
How Snapchat’s Debt Offering Will Affect its Stock
Snapchat’s parent, Snap (SNAP), is seeking to raise funds through a new proposed private debt offering of $1 billion. The debt offering is through convertible senior notes maturing in August 2026.
GET ACCESS TODAY
FREE 7-Part Course that Shows You
How to Be the Smart Money