in

Dow Futures Gains Higher as Trump Tariffs Finally Choke China – CCN.com, Crypto Coins News

Dow Futures Gains Higher as Trump Tariffs Finally Choke China – CCN.com, Crypto Coins News


Donald Trump, Dow, Dow Jones, Dow Futures” width=”720″>

Donald Trump’s tariffs against China is hurting the Asian nation. | Source: AP Photo / Jacquelyn Martin)

Dow Jones Industrial Average (DJIA) futures ticked higher on Monday, pointing to a positive start on Wall Street. It comes after Chinese exports fell harder than expected in August in a sign that Trump’s tariffs are finally beginning to choke the country output.

As Chinese exports to the US fall, Trump gains an upper hand in the ongoing trade war negotiations. Traders anticipate the US president will use the weak numbers to leverage China into a trade deal.

Bloomberg’s Lisa Ambromowiczexplained:

“Tariffs are hurting China more than economists predicted. This helps explain the nation’s latest round of stimulus – it may be combatting a deeper downturn in China than some realize. ”

# China# exportsto the US fell 16% YoY in August. Overall exports fell 1% YoY as# tradewarbites.pic.twitter.com/kcppG8qkh3

– jeroen blokland (@jsblokland)September 8, 2019

Dow futures climb 65 points on Monday

Dow Jones Industrial Average (DJIA) futureswere cautiously higher at 6. 14 am ET on Monday. The index futures contracts rose 63 points in early trading to 26, 871.

Dow Jones Industrial Average (DJIA) stock market futures Trump trade war” width=”720″>
Dow Jones Industrial Average (DJIA) futures were 65 points higher on Monday as China feels the burn from Trump’s tariffs. Source: TradingView

(S&P) futuresfollowed the move higher, up 0. 29%, whileNasdaq Composite futureswere 0. 28 percent higher.

China exports to US fall 16%

(Chinese) exports to the US fell 16%in August from the year previous . As the trade war ramps up, it seems the Trump administration’s tariffs have surpressed shipments.

The news buoyed Asian markets overnight as traders expect the People’s Bank of China to announce new economic stimulus. The optimism also spread to US stock market futures as the weakness in China gives Trump a strong hand in negotiations.

Tariffs are hurting China more than economists predicted. This helps explain the nation’s latest round of stimulus – it may be combatting a deeper downturn in China than some realize.https://t.co/F4NpTW9Spj

– Lisa Abramowicz (@ lisaabramowicz1)September 8, 2019

Declining recession fears sooth the Dow

Fears of a recession calmed over the weekend, as Federal Reserve chairman Jerome Powell said the central bank was

“[The Fed] is not forecasting or expecting a recession” –Jerome Powell.

Nobel prize-winning economist Robert Schiller also downplayed recession worries. Schiller is famous for predicting the dot-com collapse and the 2007 housing crisis. He pins the likelihood of a recession in 2020 at less than 50 percent, claiming he’snot seeing the same alarm bells he saw going into the dot -com recession.

“I ‘m not a gambler by instinct, but I felt more sure [in 2000] that something was wrong. ”

He caveated the statement by saying that a recession will “eventually” come, and he wouldn’t be surprised if it happened in the next 18 months.

Brave Browser
(Read More)
Payeer

What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

UK growth rebound eases recession fears – bbc news, bbc news

UK growth rebound eases recession fears – bbc news, bbc news

Show HN: A Senior Engineer's CheckList, Hacker News