Advertisement
Canada markets close in 6 hours 19 minutes
  • S&P/TSX

    22,154.28
    +47.20 (+0.21%)
     
  • S&P 500

    5,250.92
    +2.43 (+0.05%)
     
  • DOW

    39,789.19
    +29.11 (+0.07%)
     
  • CAD/USD

    0.7370
    -0.0002 (-0.03%)
     
  • CRUDE OIL

    82.60
    +1.25 (+1.54%)
     
  • Bitcoin CAD

    96,099.85
    +9.11 (+0.01%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,228.90
    +16.20 (+0.73%)
     
  • RUSSELL 2000

    2,114.35
    +44.19 (+2.13%)
     
  • 10-Yr Bond

    4.2180
    +0.0220 (+0.52%)
     
  • NASDAQ

    16,395.68
    -3.84 (-0.02%)
     
  • VOLATILITY

    12.95
    +0.17 (+1.33%)
     
  • FTSE

    7,959.18
    +27.20 (+0.34%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6817
    +0.0012 (+0.18%)
     

Morning Brief: Trump is losing leverage with China

Tuesday, December 4, 2018

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

What to watch today

U.S. stock futures slipped early Tuesday morning as investors said the U.S.-China trade truce lacked details.

Earnings reports remain light on Tuesday. Homebuilder Toll Brothers (TOL) reported earning of $2.08 a share on $2.46 billion of revenue early Tuesday, beating analysts’ estimates of $1.83 per share on $2.35 billion of revenue. Auto parts retailer AutoZone (AZO) will also report financial results before the market open. Analysts polled by Bloomberg are expecting AutoZone to report earnings of $12.25 per share on $2.64 billion of revenue.

ADVERTISEMENT

There is no notable economic data to be released today.

Read more

Top news

President Donald Trump listens to China’s President Xi Jinping speak during their bilateral meeting at the G20 Summit, Saturday, Dec. 1, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)
President Donald Trump listens to China’s President Xi Jinping speak during their bilateral meeting at the G20 Summit, Saturday, Dec. 1, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)

Trump is losing leverage with China: If you were China, would you rather face a deadline for trade negotiations with President Donald Trump now, or a few months from now? It’s an easy question to answer. Trump is in the waning days of Republican control of Congress. The ability to pass laws with no support from opposition Democrats —which is how the Trump tax cuts passed in 201 — will end within a month. [Yahoo Finance]

Also: U.S. Trade Representative Lighthizer to lead talks with China [Reuters]

China announces new punishments for IP theft: Intellectual property theft is one of the main points of contention in China’s dispute with Washington, and just days after President Xi Jinping promised to resolve the U.S.’s “reasonable concerns,” China has announced an array of punishments for IP theft. [Bloomberg]

The Treasury yield curve just inverted: The bond market is beginning to sound the alarm of a recession, with an inversion in U.S. Treasury yields occurring on Monday for the first time since 2007. [Yahoo Finance]

EU legal opinion says UK can withdraw Article 50: A legal opinion from an advocate general of the European Court of Justice has said that the court should declare that the UK can unilaterally halt the Brexit process before it leaves the bloc in March. [Yahoo Finance UK]

Apple to reassign marketing staff to boost iPhone sales: Apple Inc. (AAPL) is experimenting with iPhone marketing strategies it rarely uses — such as discount promotions via generous device buyback terms — to help goose sales of its flagship product. [Bloomberg]

More from Yahoo Finance

The discrepancies between statements from U.S. and China on Trump-Xi meeting

U.S. soybean farmer: ‘We obviously are struggling’ amid U.S.-China trade war

The government’s fight over AT&T-Time Warner deal is not about ‘bigness’

Tim Cook: ‘We won’t give a platform to violent conspiracy theorists’

Morning Brief will be observing the National Day of Mourning on Wednesday, Dec. 5, in honor of the late President George H.W. Bush. It will resume on Thursday, Dec. 6.

The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.