U.S. stocks advanced on Wednesday, as gains in financial and energy shares helped equities recover from initial declines, but investors remained cautious about the potential for another flare-up in U.S.-China trade tensions.
A gauge of equities worldwide rose on Wednesday as data showing strong demand for oil helped subdue recession jitters, while sterling tumbled as Britain’s prime minister moved to restrict parliamentary time before the country’s planned departure from the European Union.
Richmond Federal Reserve President Thomas Barkin on Wednesday said he was closely watching developments around the outlook for economic growth but had yet to make up his mind on whether the economy needs another interest rate cut.
President Donald Trump will announce a plan to boost demand for biofuels, which farmers and producers say has suffered from waivers the administration has issued exempting oil refiners from requirements to blend ethanol into the U.S. fuel supply, Secretary of Agriculture Sonny Perdue said on Wednesday.
President Donald Trump is likely to announce a plan that aims to mitigate the impact of waivers granted to oil refineries on biofuel demand in the next couple of weeks, Agriculture Secretary Sonny Perdue said on Wednesday.
Tapping factories in Brazil and India has not lessened Apple Inc’s dependence on China, the company’s supply chain data shows, raising the stakes for the iPhone maker as U.S. President Donald Trump wages a trade war and promises more tariffs.
Huawei Technologies plans to forge ahead with the launch of new high-end smartphones in Europe even though it may not be able to offer Google’s official Android operating system and widely used apps such as Google Maps, company executives told Reuters.
Brazil’s influential finance minister has convinced President Jair Bolsonaro to consider the once-unthinkable step of privatizing state-owned oil company Petrobras , but stiff political opposition could stifle any effort to sell the country’s corporate crown jewel.
U.S. stocks recovered from early losses on Wednesday, helped by financial stocks, although investors were guarded as worries about a recession loomed and trade tensions between the United States and China dragged on.
Over 160 business groups on Wednesday appealed to U.S. President Donald Trump in a letter to postpone all tariff hikes on Chinese imports scheduled this year, warning that it could hit shoppers with higher prices during the holiday season.
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Huawei Technologies plans to forge ahead with the launch of new high-end smartphones in Europe even though it may not be able to offer Google’s official Android operating system and widely used apps such as Google Maps, company executives told Reuters.
Gains in financial shares helped U.S. stocks reverse early losses on Wednesday, although investors were guarded amid worries about a recession and trade tensions between the United States and China.
The U.S. Trade Representative’s office on Wednesday reaffirmed President Donald Trump’s plans to impose an additional 5% tariff on a list of $300 billion of Chinese imports starting on Sept. 1 and Dec. 15.
More than 200 U.S. footwear companies on Wednesday urged U.S. President Donald Trump to cancel proposed higher tariffs on Chinese imports that take effect beginning next month, calling them hidden taxes that will jack up consumer prices.
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