Kotor Baju

Senin, 05 Agustus 2019

Walmart says no change in company firearms sales policy since El Paso shooting - Yahoo Finance

A police officer stands next to a police cordon after a mass shooting at a Walmart in El Paso

WASHINGTON (Reuters) - Walmart Inc <WMT.N>, the largest firearms retailer in the country, said on Monday there has been no change in company policy on firearms sales after two mass shootings over the weekend.

The company has issued no directives to stores around the country to change its policy, spokesman Randy Hargrove told Reuters.

Walmart stopped selling assault-style rifles in 2015 and raised the minimum age for gun purchases from 18 to 21 in 2018.

(Reporting by Nandita Bose in Washington; Editing by Dan Grebler)

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https://finance.yahoo.com/news/walmart-says-no-change-company-150546781.html

2019-08-05 15:05:00Z
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Dow plunges 600 points after China devalues its currency - CNN

The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday. A weaker currency could soften the blow the United States has dealt China with its tariffs.

The cheaper yuan ignited fear on Wall Street that the United States would respond with even higher tariffs, prolonging the standoff with China and potentially weakening the global economy. Investors are particularly concerned that the Trump administration could try to devalue the dollar, sparking a currency war that could weaken Americans' purchasing power.

"Risks of Trump intervening in foreign exchange markets have increased with China letting the yuan go," wrote Viraj Patel, FX and global macro strategist at Arkera, on Twitter. "If this was an all out currency war - the US would hands down lose. Beijing [is] far more advanced in playing the currency game [and has] bigger firepower."

President Donald Trump once again called China a currency manipulator on Monday, saying the yuan devaluation was a "major violation." Trump has long attacked China for its currency policy, even though the Treasury has refrained from officially labeling the country a currency manipulator.

Stocks and bond yields are sharply lower

US stocks were sharply lower, with the Dow (INDU) falling more than 600 points, sinking below 26,000 points. The S&P 500 (SPX) traded 2.3% lower, while the Nasdaq Composite (COMP) fell 3%.

The last time the Nasdaq lost as much as 3% was May 13. If the Nasdaq closes lower Monday, it will have logged its longest losing streak since November 2016, when it fell for nine-consecutive days in the lead-up to the presidential election.

The S&P 500 is on track for six consecutive down days for the first time since October, while the Dow is on track for its longest losing streak since March. Last week, the S&P 500 and the Nasdaq Composite logged their worst week of the year last week.

Hit particularly hard were tech stocks. Apple (AAPL), Intel (INTC), Microsoft (MSFT), Nvidia (NVDA) and Advanced Micro Devices (AMD) were among the biggest losers on Monday.

The VIX (VIX) volatility index soared more than 25%. The CNN Business Fear & Greed Index is indicating "Extreme Fear."

Asian markets all fell more than 1.6% Monday, and Hong Kong's Hang Seng closed down 2.9% as protests continue in the region. In Europe, London's FTSE 100 declined more than 2%. Germany's DAX and France' Cac 40 are both down more than 1%.

US government bonds rose and yields fell as traders looked for safe investments. The 10-year Treasury yield declined to 1.7650%. The yield curve — the difference between shorter and longer-term bond yields — grew the widest since April 2007. That inversion of the yield curve has predated every past recession.

Escalating the trade war

The yuan weakened sharply after the People's Bank of China set its daily reference rate for the currency at 6.9225, the lowest rate since December. The central bank said in a statement that Monday's weakness was mostly because of "trade protectionism and new tariffs on China." President Donald Trump threatened a new round of tariffs on the country last week.

Devaluing the yuan is one way China has of retaliating against the tariffs. A weaker currency helps Chinese manufacturers offset the costs of higher tariffs.

Analysts at Capital Economics said the move showed that Beijing has "all but abandoned" hopes for a trade deal with the United States.

In US economic data, the non-manufacturing index for July from the Institute of Supply Management undercut consensus expectations, which didn't help matters.

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https://www.cnn.com/2019/08/05/investing/dow-stock-market-today/index.html

2019-08-05 15:02:00Z
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Dow tumbles 600 points after China devalues its currency - CNN

Stocks and bond yields are sharply lower

US stocks were sharply lower, with the Dow (INDU) falling more than 600 points, sinking below 26,000 points. The S&P 500 (SPX) traded 2.3% lower, while the Nasdaq Composite (COMP) fell 3%.

Hit particularly hard were tech stocks. Apple (AAPL), Intel (INTC), Microsoft (MSFT), Nvidia (NVDA) and Advanced Micro Devices (AMD) were among the biggest losers on Monday.

The VIX (VIX) volatility index soared more than 25%. The CNN Business Fear & Greed Index is indicating "Extreme Fear."

Escalating the trade war

Devaluing the yuan is one way China has of retaliating against the tariffs. A weaker currency helps Chinese manufacturers offset the costs of higher tariffs.

Analysts at Capital Economics said the move showed that Beijing has "all but abandoned" hopes for a trade deal with the United States.

In US economic data, the non-manufacturing index for July from the Institute of Supply Management undercut consensus expectations, which didn't help matters.

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https://www.cnn.com/2019/08/05/investing/dow-stock-market-today/index.html

2019-08-05 14:48:00Z
CAIiENkiBRVcTuzLEH6nqvQT0JMqGQgEKhAIACoHCAowocv1CjCSptoCMPrTpgU

Dow tumbles 500 points after China devalues its currency - CNN

President Donald Trump once again called China a currency manipulator on Monday, calling it a "major violation." Trump has long been calling China out for its currency management, even though the Treasury has refrained from officially labeling the country as such.

US stocks opened sharply lower, with the Dow (INDU) shedding more than 500 points shortly after the opening bell, tumbling below 26,000 points. The S&P 500 (SPX) traded nearly 2% lower, while the Nasdaq Composite (COMP) fell 2.5%.

If the Nasdaq closes lower, it will have logged its longest losing streak since November 2016, when it fell for nine-consecutive days in the lead-up to the presidential election.

Hit particularly hard were tech stocks. Apple (AAPL), Intel (INTC), Microsoft (MSFT), Nvidia (NVDA) and Advanced Micro Devices (AMD) led decliners on Monday morning.

The VIX (VIX) volatility index soared more than 20%. The CNN Business Fear & Greed Index is indicating Fear.

Devaluing the yuan is one way China has of retaliating against the tariffs. A weaker currency helps Chinese manufacturers offset the costs of higher tariffs.

Analysts at Capital Economics said the move showed that Beijing has "all but abandoned" hopes for a trade deal with the United States.

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https://www.cnn.com/2019/08/05/investing/dow-stock-market-today/index.html

2019-08-05 14:00:00Z
CAIiENkiBRVcTuzLEH6nqvQT0JMqGQgEKhAIACoHCAowocv1CjCSptoCMPrTpgU

Stocks - Wall Street Tumbles on U.S., China Trade Spat - Investing.com

Investing.com – Wall Street tumbled on Monday, as China’s yuan hit a decade low and Beijing hit back at the U.S. for threatening yet more import tariffs.

The onshore rate, which is tightly managed by the Chinese central bank, briefly traded above 7 to the dollar level, triggering fears of a round of competitive devaluations by countries across the globe.

U.S. president Donald Trump tweeted his disapproval, calling the move currency manipulation and asking the Federal Reserve whether it was paying attention. He has often criticized China for manipulating its currency, which Beijing has denied doing.

China also on Chinese goods, announced last week by Trump, by asking state-owned enterprises to stop buying American agricultural goods, Bloomberg reported.

The slumped 479 points or 1.8% by 9:37 AM ET (13:37 GMT), while the was down 51 points or 1.8% and the lost 184 points or 2.3%.

Apple (NASDAQ:) slumped 3% on concerns that proposed tariffs could hurt its iPhone sales, while chipmakers were also down on trade concerns. Advanced Micro Devices (NASDAQ:) fell 3.9%, while NVIDIA (NASDAQ:) declined 4.9% and Intel (NASDAQ:) lost 3%.

Facebook (NASDAQ:) fell 2.5%, Amazon.com (NASDAQ:) dipped 3% and Tesla (NASDAQ:) slipped 2.1%.

Uber (NYSE:) was down 3.3% after Sky News reported at the weekend that London's transport regulator is unlikely to approve its application for a five-year operating license, and instead only issue a twelve-month one.

Tyson Foods (NYSE:) jumped 5.8% after it posted strong earnings and maintained its profit guidance for the full year.

In commodities, fell 2% to $54.56 a barrel on concerns about the demand outlook, while rose 1.2% to a new six-year high of $1,477.95 before retracing a little to $1,474.85 a troy ounce. The , which measures the greenback against a basket of six major currencies, slipped 0.4% to 97.468.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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https://www.investing.com/news/stock-market-news/stocks--wall-street-tumbles-on-us-china-trade-spat-1945605

2019-08-05 13:42:00Z
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Dow futures tumble more than 300 points after China devalues its currency - CNN

Stock futures are sharply in the red because of the trade escalation, adding onto losses after the S&P 500 and the Nasdaq Composite logged their worst week of the year last week.

Dow (INDU) futures are down 1.4%, or 354 points, while S&P 500 (SPX) futures are down 1.4%.

Hit particularly hard were tech stocks. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Alphabet (GOOGL) were all down more than 2%. Nasdaq Composite (COMP) futures, which are a kind of proxy for the tech industry, fell 1.9%.

The VIX (VIX) volatility index soared 20%. The CNN Business Fear & Greed Index is indicating Fear.

Asian markets all fell more than 1.6% Monday, and Hong Kong's Hang Seng dropped 2.9% as protests continue in the region. In Europe, London's FTSE 100 declined more than 2%. Germany's DAX and France' Cac 40 are both down more than 1%.

Devaluing the yuan is one way China has of retaliating against the tariffs. A weaker currency helps Chinese manufacturers offset the costs of higher tariffs.

Analysts at Capital Economics said the move showed that Beijing has "all but abandoned" hopes for a trade deal with the United States.

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https://www.cnn.com/2019/08/05/investing/dow-stock-market-today/index.html

2019-08-05 12:27:00Z
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China Hints at Weaponizing Its Currency, Rattling Markets - The New York Times

BEIJING — The trade war between the United States and China may be about to enter a more dangerous phase, one that could saddle the global financial system with new risks at an already turbulent time.

That prospect, which would see Beijing using the value of its currency as a weapon to strike back at the Trump administration, shook world markets on Monday, as nervous investors in Asia and Europe looked for safe places to park their money. Futures markets suggested Wall Street could have a tough opening as well.

The question now is whether Beijing will fully weaponize its currency, allowing it to significantly weaken in value versus the American dollar. That could prompt a harsh response from Trump administration officials who have already warned China against that course.

It could also ripple across the globe, forcing countries that compete with China to consider devaluing their own currencies. That could lead to a zero-sum spiral of devaluations that would damage global growth and lead to even more trade protectionism, threatening the world’s economic integration.

“It’s hugely significant as they are making a clear choice to do this,” said Michael Every, head of financial markets research in Asia for Rabobank, referring to China’s central bank. “This is going to escalate rapidly and badly.”

China’s currency has a way to fall before it would be an effective weapon. But on Monday, Beijing hinted that it might be willing to go there.

The People’s Bank of China, the country’s central bank, allowed its tightly controlled currency, the renminbi, to weaken past a psychologically important point of 7 renminbi to the American dollar for the first time since 2008. The move was widely seen as a signal from Beijing that it would not back down from a fight with Mr. Trump. Just days before, Mr. Trump threatened to impose a new round of tariffs on Chinese imports to force it into striking a deal.

Yi Gang, the central bank’s governor, attributed the move in the renminbi, or RMB, to market forces, adding that many currencies had depreciated against the dollar recently.

“I am confident that the RMB will continue to be a strong currency,” Mr. Yi said in an article published to the social media account of the central bank.

Over all, the renminbi weakened by around 1 percent against the dollar, a move that is not necessarily significant on its own. But the fact that Beijing allowed it to breach a level that was long considered a line in the sand raised questions about whether the Chinese government was doubling down or abandoning any hope for a deal in the near term.

In an unusually blunt statement on Monday, the People’s Bank of China blamed the currency fall on Mr. Trump’s “unilateralism and trade protectionism measures and the imposition of increased tariffs on China.”

The central bank also said it would keep the renminbi “fundamentally stable at a reasonable and balanced level.” But it did not specify what that level would be.

Experts saw the move as a deliberate threat from China’s top leaders, who would most likely have to give permission to the central bank to let its currency fall past such a symbolically fraught level.

“The currency is largely controlled by the P.B.O.C., but the P.B.O.C. does not have the independence to decide on its own the level of the renminbi,” said Michael Pettis, a professor of finance at the Guanghua School of Management at Peking University, referring to the central bank. “This was clearly a decision made higher up.”

The Chinese currency’s fall on Monday reverberated through global markets, sending major indexes in Asia down by about 2 percent or more. European indexes were lower by 1.5 percent or more. Currencies, already trading weaker against the American dollar after the Federal Reserve cut rates for the first time in a decade, fell further.

The escalating trade war already threatens to end what had looked to be a modest global expansion. The American economy appears to be growing at a healthy clip and Europe is showing signs of renewal. But China’s growth has been hit by the trade war, which has compounded some of its homegrown problems. Other countries that depend on China’s voracious economic machine, such as Japan, have been hit as well.

A currency war could intensify that damage.

Countries with weaker currencies can enjoy big advantages when selling their goods somewhere else. It can help them cut prices or be more competitive than rivals in countries with strong currencies. Mr. Trump and a number of American lawmakers have long criticized China for taking that tack with its currency, something Beijing has consistently denied.

If China devalues its currency even more, countries that compete in similar industries, like South Korea or the nations of Southeast Asia, could face pressure to devalue their own currencies. Such devaluation spirals can lead to higher inflation, pinched household spending and disruptive shifts of money across borders. They can also lead to more tariffs or other restrictive trade measures.

A significant devaluation could also hurt China itself. Many of its biggest and most indebted companies in sectors ranging from property to heavy industry have borrowed huge amounts oversees in American dollars. A weaker renminbi makes paying that debt back more expensive. It could also hurt companies that depend on commodities, such as oil, that are priced in dollars, and could spur wealthy Chinese to take their money out of the country.

For those reasons, devaluations make investors nervous. Four years ago, when China devalued its currency by a more drastic amount, a global market rout followed.

This time, the immediate threat is how Mr. Trump may respond.

A devaluation helps to blunt the cost of his tariffs. Mr. Trump’s latest threat of an additional 10 percent on $300 billion of Chinese imports a year would broadly have the same effect as a 1 to 1.5 percent appreciation of the renminbi against the dollar, estimated Professor Pettis of Peking University. To offset those tariffs, the professor added, China could allow its currency to depreciate by a similar level.

That might only lead to Mr. Trump putting more or higher tariffs on Chinese-made goods, which could prompt even more retaliation from Beijing, said Ned Rumpeltin, head of European currency strategy with TD Securities.

“I think that we are in a very much tit-for-tat situation,” he said.

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https://www.nytimes.com/2019/08/05/business/economy/us-china-yuan-renminbi-trump.html

2019-08-05 12:11:13Z
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