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The Ernst & Young Strategic Growth Forum is a gathering of high-growth, market-leading companies. This basket of stocks tracks the companies represented at the 2016 Forum.
The PBoC left LPRs steady this morning, with some time likely needed to asses the impact of recent cuts and the phase 1 agreement.
Of the additional $200-billion purchase of U.S. goods over the next two years (keeping 2017 imports as the base level), $52.4 billion will likely come from the energy sector.
On Thursday, the U.S. Senate overwhelmingly approved the new free-trade agreement between Canada, the United States and Mexico. The deal, which covers the biggest free-trade zone in the world, should boost the economies of all three countries.
China's Sinopec, expected to be the next major Chinese buyer of U.S. liquefied natural gas (LNG), is planning to review terms of a potential $16 billion (£12.2 billion) supply deal with Cheniere Energy Inc after a sharp drop in LNG prices, industry officials said. Sinopec, officially named China Petroleum & Chemical Corp , and Houston-based Cheniere had been expected to sign the 20-year deal once a trade truce was reached between Beijing and Washington.
Today we'll evaluate Extended Stay America, Inc. (NASDAQ:STAY) to determine whether it could have potential as an...
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China agreed to buy $52.4 billion of additional U.S. energy products as part of a landmark trade deal signed by the world’s two top economic superpowers.The purchases over two years will include liquefied natural gas, crude oil, refined products and coal, the U.S. government said Wednesday in Washington. It didn’t provide additional details on the energy purchases, which comprise about a quarter of the $200 billion total of extra imports that China has committed to.The accord is a promising sign for the U.S. LNG industry, which is facing a global market awash with excess supply. China, the world’s fastest-growing buyer of the heating and power-plant fuel, hasn’t imported any American cargoes since February 2019.Though shipments of shale gas from American export terminals completed in the past three years have made the U.S. one of the world’s top suppliers, some newer projects have stalled without Chinese purchasers. The struggle to sign long-term sales contracts has undermined efforts to secure financing for the multibillion-dollar facilities.Shares of Cheniere Energy Inc., the largest U.S. LNG exporter, rose as much as 2.6% in New York trading as the broader equities market gained, while rival Tellurian Inc. was up as much as 2.7%. Crude oil and natural gas futures pared losses.“The phase one agreement between the United States and China is a step in the right direction that will hopefully restore the burgeoning U.S. LNG trade with China,” Jack Fusco, chief executive officer of Cheniere and one of the business leaders present at the signing ceremony at the White House, said in a statement.U.S. oil exports to China have also slumped because of the trade war. China skipped crude purchases from the U.S. for six months through November, according to data from the U.S. Census Bureau.Despite losing its top customer, U.S. oil exports have remained steady as shipments to other locations including the U.K., Europe and South Korea edge higher. Late last year, U.S. exports even touched a record 4.5 million barrels a day.While China has tapered off its imports of American crude, the Asian nation hasn’t moved away from its dependence on foreign oil. China imported 10.16 million barrels a day last year, according to customs figures released Tuesday, topping the 10.12 million the U.S. bought at its importing peak in 2005.Coal will likely be a small component of the trade accord with China, the world’s largest producer of the commodity. The U.S. shipped about $128 million of coal to China last year through November, according to U.S. Census Bureau data.(Updates with market reaction in fifth paragraph, coal in 10th)\--With assistance from Stephen Voss and Will Wade.To contact the reporters on this story: Christine Buurma in New York at firstname.lastname@example.org;Naureen S. Malik in New York at email@example.com;Catherine Ngai in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Simon Casey at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
China’s trade surplus widens ahead of tomorrow’s signing. It remains to be seen whether the numbers will catch the President’s eye…
The battle for India’s lucrative travel market among global distribution systems is not over yet — even if Travelport has won hands down with exclusive rights to distribute Air India’s domestic flights content in India. For a split second, it appears that Travelport can sit pretty and command control of a vast market all on […]
Last week was week of comebacks. It was a week of small, mid-term corrections, going against the main long-term trend. Corrections are useful, they create an occasion to jump in into a trade for those who were initially late. Thanks to corrections, they can open trades with more desirable prices.
The Pound is in focus today, with key stats to influence sentiment towards BoE monetary policy. Brexit will also be in focus on the day.
The technicals indicated high likelihood of an upswing, and the pair obliged by moving higher recently. Great, but with quite a move behind us already, let’s assess further appreciation potential as it stands right now.