Today. Hey, josh. Carl, check out apple here. Ripping higher off these headlines. Investors clearly cheering this decision by the Trump Administration to delay tariffs on certain items, include cell phones, until december 15th. And that could havecertainly placed apple in a tough spot, because remember, so many of its products are assembled in china. And millions of chinese working to put together different parts of iphones and ipads so tariffs could have required tim cook and of course, many other american executives to make a tough decision, absorb the tariffs and impact his bottom line. In fact, just this morning, you saw wedbush saying, if apple fully absorbed the tariffs, they think it could reduce 2020 epps by as much as 55 cents or cook alternatively could try to pass along prices to consumers, but that could possibly dent demand for the products wedbush saying it could mean a hit to iphone demand by roughly 8 million iphones in the u. S. Alone. Remember, analysts did also say t
Yuan to an alltime low even as beijing sets its mid point fix at a stronger than expected level. And european yields extent their slide as growing trade tensions spur a growing flight to safety with the dutch and the irish tenyear the latest bonds to fall below zero all right. So lets talk about some price action overnight we had chinese and Japanese Equities closing in the red. This after the u. S. Treasury department formally designated china as a currency manipulator for the first time in more than two decades. This after chinese authorities allowed the yuan to weaken beyond the psychologically significant 7 per dollar level on monday. The pboc rejected washingtons designation and insisted it does not use the yuan to cope with trade tensions chinas bank set the mid point stronger than 7, but it hit a low before news of a bond sale helped it to recover china confirmed it will suspend purchases of u. S. Agricultural products in response to President Trumps new tariffs a spokesperson f
House ways and Means Committee member texas republican kevin brady to defend tax cuts, Democratic Candidates have been dismissing but more on the fallout from oil tankers reportedly getting hit by torpedoes, at least near the strait of hormuz and area that everybody claims its theirs, we seem to think its international waters, blake berman with more from the white house, hey, blake blake hey, neil, no word on President Trump, Sarah Sanders put out a statement, we are aware of reports on attacks on the ships in the gulf of orman, one of the two oil tankers attacked off the coast of iran is operated by a Japanese Company and right now the japanese Prime Minister shinzo abe just so happens to be in iran, having discussions with aitola, hes trying to dial tensions between u. S. And iran saying he wants to help, avoid a, quote, accidental conflict. America has thousands of Nuclear War Heads and they are not qualified, which country and which country cant, we are qualified because we are aga
Objective. President trump continues his state visit to the u. K. Playing down dirchfferences over huawein promising a great postbrexit trade deal. The United States is committed to a phenomenal trade deal between the u. S. And the u. K. There is tremendous potential this that trade deal i say probably two and even three times of what were doing right now. The imf trims its 2019 frost for the chinese economy saying more policy easing could be called for trade tensions escalate. And hedro trades near the top of the stock after the aluminum producer delivers better than expected First Quarter profit and signals production is closer to capacity good morning, and a very warm welcome to street signs. Weve got fresh data coming through for the euro zone. That is the final composite pmi numbers as well as services. Let me bring you what those numbers are. On the composite number, the final pmi has come in at 51. 8 for may. That is slightly better than the flash estimate of 51. 6 it also is hi
Moscow region air Defense Forces destroyed two ukrainian drones, another one was suppressed by the Electronic Warfare system, fell in the moscow city area, as the mayor of the capital noted, only the iq Office Building was damaged , there were no victims. Texas, two freight trains immediately derailed, one person died. The accident occurred due to a collision between a train and a truck; the driver of the car died on the way to the hospital, according to road services, dangerous substances could be in the cars. More and more ukrainians do not want to run to the front line from mobilization. Even despite the threat of jail time. This was recognized by the deputy minister of defense. He blames this mood in society, while ukrainian public pages are full of evidence of the barbaric work of local military commissars. Us congressmen accused joe biden of lying, claims the head of the white house was well aware of the corrupt deals of his son, the journalist considers the investigation is tryi