Investor and economists the world over are watching Trump’s feedback intently – right here’s some snap response:
Trump hasn’t given up on getting a commerce take care of China, although. He says the settlement shall be signed, within the US.
Trump: No settlement with China on tariffs
Newsflash: US president Donald Trump is dampening hopes of an imminent US-China commerce deal.
Chatting with reporters, Trump says he has not reached an settlement with China to roll again tariffs, though Beijing would really like him to.
That’s a blow to market optimism, as Beijing officers had claimed yesterday that the 2 sides had agreed to cancel some tariffs as a part of a Section One deal.
This has hit knocked the markets at little — the Dow Jones industrial common is down 69 factors, or Zero.25%, at 27,605.
US client sentiment has risen a bit, an encouraging signal.
The College of Michigan’s client confidence index has inched as much as 95.7 for November, up from 95.5 in October.
The survey discovered that People are extra assured about future financial prospects, but in addition suppose that their present circumstances have deteriorated.
Video games Workshop shares hit document excessive as income maintain rising
Making miniature fashions and tabletop board video games continues to be impressively worthwhile for Video games Workshop.
The wargaming firm reported that income are up once more this yr, that means income ought to be a 3rd larger than a yr in the past.
In a quick assertion (as quick as certainly one of its <checks notes> Ork Gretchin fashions), it mentioned:
Following on from the Group’s replace in September, buying and selling to three November 2019 has continued effectively. In comparison with the identical interval within the prior yr, gross sales and income are forward. Royalties receivable are additionally considerably forward of the prior yr pushed by the timing of assure revenue on signing new licences.
Our preliminary estimates of the outcomes for the six months to 1 December 2019 are gross sales of not lower than £140 million and revenue earlier than tax of not lower than £55 million.
Its shares have spiked by 20% in the present day, hitting £54 for the primary time ever. Three years in the past they have been price lower than £6.
My colleague Alex Hern defined in January how Video games Workshop has hooked its followers, who will spend chunky sums of cash on steel fashions and fortunately commit hours to intricately portray them.
Its outlets are additionally defying the broader slowdown within the retail trade – and apparently extra welcoming than previously.
Ruth Griffin, retail director at authorized agency Gowling WLG, says Video games Workshop is an fascinating instance of retail success – an organization that has recognized its area of interest market and constantly serviced it.
Whereas for others, diversification and sweeping retail format modifications are a part of the success story, the other applies right here.
Which means others ought to be selective about which classes to study…the necessity to establish and constantly exploit essentially the most profitable product traces is an apparent one, however constructing distinctive experiences round these appears to be one of many largest attracts for patrons.”
Up to date
Simply in. French vitality agency Complete has denied that it’s contemplating a bid for Belgian supplies and expertise group Umicore, as flagged earlier.
That dashes hopes that the FT’s Markets Dwell would log off with one other scoop, on its final outing earlier than retirement.
It may very well be a fairly boring day on Wall Road, as merchants catch their breath after a sequence of document highs.
The futures market is predicting that the tech-focused Nasdaq would possibly dip, with the Dow seen unchanged.
One other UK retailer has hit robust occasions.
Huddersfield-based Mamas & Papas,which provides prams, pushchairs, child merchandise, furnishings and maternity put on, goes right into a pre-pack administration.
The transfer means some shops will shut, with round 70 jobs misplaced and one other 500 saved, in line with Sky Information.
Simply in: Donald Trump’s financial advisor has mentioned that the White Home is ready to ‘postpone’ tariff hikes on Chinese language imports scheduled for subsequent month.
However Peter Navarro additionally mentioned different tariffs shall be saved (ie, maintained), to offer leverage in future commerce talks.
That would disappoint Beijing, which has been pushing for some present tariffs to be rolled again as a part of the much-discussed Section One deal.
Edward Lawrence of Fox Information has the small print:
Right here’s our information story in regards to the newest Crossrail delays, which is able to put the complete value of the venture over £18bn….
Gold hits three-month low
Goldbugs are getting crushed this week, as hopes of a commerce deal dent demand for protected haven belongings.
Gold has fallen nearly 1% in the present day, or $10 per ounce, to $1,458/ounce.
That’s its lowest degree since early August, as traders bail out of the dear steel.
You would possibly bear in mind the panic earlier this yr when the US authorities yield curve inverted.
If not, this was the second when traders accepted a decrease rate of interest for making long-term loans to the US, fairly than short-term ones.
That has sometimes been a recession indicator, because it implied traders have been gloomier about long-term prospects.
However it’s possible you’ll fret no extra! Yields (rates of interest) have returned to normality, suggesting recession fears are abating.
Over in Brussels, shares in Belgian multinational supplies expertise firm Umicore have spiked 7% to a six-month excessive — because of a takeover hearsay.
The FT’s soon-to-be-sorely missed Markets Dwell has reported that Complete are pondering a transfer on Umicore.
Umicore develops clear applied sciences equivalent to automotive catalysts, and is Europe’s largest producer of battery supplies for the electrical automotive trade.
Nothing official but, nevertheless it may very well be an honest closing hit for ML, which is being pensioned off after greater than a decade of market-moving scoops and prime banter.
Again in China, automotive gross sales have slumped once more as shoppers rein in spending.
The China Passenger Automobile Affiliation has reported that automobile gross sales fell 6% year-on-year in October. That is the 16th month-to-month fall within the final 17 months — June bucked the development, as determined automotive sellers slashed costs to shift inventory.
Economists predict that Japan’s financial system has slowed within the final quarter, additional justifying one other stimulus push.
GDP is estimated to have risen by simply Zero.2% in July-September (the official knowledge are launched subsequent week), down from over Zero.three% in April-June.
There are additionally fears hike in Japan’s gross sales tax final month will damage client spending within the present quarter.