Morning Briefing
U.S. trade deficit soars: I think that makes a U.S.-China trade deal more likely
In December the U.S. trade deficit widened to $59.8 billion from a revised $50.3 billion in November. Economists surveyed by Briefing.com had projected a December deficit of $57.8 billion. The December deficit is the widest monthly deficit since October 2008 during...
China tweaks growth target lower to 6%-6.5% from last year’s 6.6%
Against the setting of the National People's Congress, which opened today, China's leaders announced that the growth target for the economy in 2019 would be 6%-6.5%, down slightly from the 2018 target of 6.6%. That dip is significant since the Chinese Communist Party...Stocks rethink China bounce
Stocks started off the day rallying on speculation that a U.S.-China trade deal was near conclusion. Market consensus was that the deal would be signed by President Donald Trump and President Xi Jinping by the end of March. The United States would lift tariffs on...
Mostly good news on the U.S. economy even in ISM manufacturing slip today
The Institute for Supply Management Purchasing Managers Index for manufacturing fell to 54.2 in February from 56.6 in January. Economists surveyed by Briefing.com were looking for 56 on the index. (On this index anything above 50 signals expansion in the sector; below...
Today’s economic numbers from U.S. (good) and China (bad)
The first (advanced) estimate of U.S. GDP for the fourth quarter showed the U.S. economy growing at a 2.6% annual rate. Economists surveyed by Briefing.com had forecast 2.3% growth. For all of 2018 the economy grew at a real rate (that is after inflation) of 2.9% in...
China rally or speculative balloon?
As of today, February 27, the Shanghai Composite is up 13.53% in the last month. The beginning of a sustained turnaround or another speculative balloon ready to pop? It's too early to tell, unfortunately. The factors that could be inflating a speculative balloon are...
Government action on drug prices seems far, far away
The format was familiar: Seven CEOs sit in front of a Senate Committee probing their industry's business practices. But whereas a Congressional hearing a decade ago marked a key moment in what was a costly public reckoning for the tobacco industry, today's hearing...
It’s official: White House extends March 1 deadline in U.S.-China trade talks.
Citing substantial progress, President Donald Trump has extended the March 1 deadline for reaching agreement on a U.S.-China trade agreement and heading off a jump to 25% in U.S. tariffs on $250 billion of Chinese exports. “The U.S. has made substantial progress in...
Fed-speak mania today–with two weeks to go before Fed’s quiet period
What does the Federal Reserve want to tell the financial markets? Maybe you believe it's just one of those things. You know, one of those coincidences. Â But I don't. Seven, count 'em seven, Fed officials are scheduled to speak today, Friday, February 22. That's just...
It’s all about the MOUs: China trade talks strategy gets clearer; U.S. not so much
Judging from this morning's news out of the U.S. China trade talks I think I can see the Chinese strategy. Step 1: Offer the United States and its President lots of money. Today the Chinese offered to buy an additional $30 billion in U.S. corn, soy beans and other...
Here’s why all eyes are on the release of this Fed’s January minutes this afternoon
All Today's release of the minutes from the Federal Open Market Committee’s January meeting has the potential to move markets--maybe even more potential than usual. That's because the market is looking for guidance on a series of Fed-centric issues. First, there's the...Jim’s Stock Alerts
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