• Trump will terminate NAFTA to press Dems into approving new trade deal

    Trump will terminate NAFTA to press Dems into approving new trade deal

    Markets

    The president needs to talk to Congress on this and we can go back to the table with the Mexicans and the Canadians and do stronger labor. The original NAFTA deal is back on top of Donald Trump's hit list, with the US president declaring he intends to terminate the 24-year-old trade pact - a move created to pressure lawmakers on Capitol Hill to approve its recently negotiated successor.
  • Kremlin says it expects Putin-Trump meeting to go ahead

    Kremlin says it expects Putin-Trump meeting to go ahead

    Markets

    Trump spokeswoman Sarah Sanders indicated that an informal meeting may yet happen. He added that President Donald Trump had directed him to examine all available tools to equalize the tariffs applied to automobiles, reported CNBC . "Whether they can get through all that remains to be seen", Kudlow clarified. Trump, who has already slapped $250 billion in tariffs on China, sounded upbeat about making progress with his counterpart Xi Jinping after weeks of dire warnings.
  • Schedule of funeral plans for George H.W. Bush

    Markets

    President Bush will be given a state funeral at the National Cathedral in Washington, D.C. He will lie in state in D.C. through Wednesday. Jim McGrath, spokesman for the Bush family, tweeted out a photo on Sunday night, captioning it "mission complete".
  • OPEC meeting looking at new price peril

    OPEC meeting looking at new price peril

    Markets

    The provincial government of Alberta, home of Canada's oil sands deposits, has ordered a production cut of 325,000 barrels a day (about 8.7% of daily production) beginning in January in an effort to drain the amount of crude the province's producers now hold in storage.
  • Qatar says will leave OPEC

    Qatar says will leave OPEC

    Markets

    Qatar is the world's biggest supplier of liquefied natural gas (LNG), producing nearly 30 percent of the world's natural gas. The decision to quit the bloc of 15 oil-producing countries that account for nearly half of the world's oil production was confirmed by Qatar Petroleum, the country's state oil company.
  • Fed officials express caution about pace of future hikes

    Fed officials express caution about pace of future hikes

    Markets

    In their biggest increases since March, the major Wall Street indexes were up. The S&P 500 rose 61.61 points, or 2.30 percent, to 2,743.78. The Dow surged on the news and closed up 600 points, or more than 2%, in midday trading. Responding to the interviewer's comment that he had considered Powell would be a "low-rate person", Trump said: "Well, let's see what happens with Jay Powell".
  • Fractious G20 summit opens in Buenos Aires

    Markets

    The summit began in Buenos Aires with a traditional " family photo " by the leaders of a group whose relationships range from warm and friendly to chilly and distrustful. He said the European Union is expected to extend sanctions on Moscow over its "totally unacceptable" seizure of Ukrainian ships and their crews near the Crimean Peninsula.
  • Fed retunes message for 2019, opening door to 'slow down'

    Fed retunes message for 2019, opening door to 'slow down'

    Markets

    This should be clarified at the next meeting on December 18-19. Powell remains upbeat on the economy, forecasting continued solid growth, low unemployment and inflation near the Fed's 2 percent target. "However, market pricing implies that while the Fed is likely to hike in December (about 80% priced), it will move only once in 2019". Powell also underscored the importance he places on communicating the Fed's thinking in a way that people will understand.
  • Canada on track for Friday signing of USMCA once details finalized: Freeland

    Markets

    One of the Canadian sources said Freeland might be hedging her bets until she was sure that a sometimes unpredictable US administration would definitely sign. He struck a more optimistic note on Friday, saying, "It's been so well-reviewed, I don't expect to have very much of a problem". President Donald Trump Trump celebrated a major political win Friday, joining the leaders of the Mexican and Canadian governments in signing a new North American trade deal that overhauls the rules governing ...
  • Putin says Russian Federation 'satisfied' with oil at $60

    Putin says Russian Federation 'satisfied' with oil at $60

    Markets

    For almost a month-since an OPEC /non-OPEC panel signaled that there might be a need to cut oil production by 1 million bpd to balance the market-Russia has warned against any hasty decisions on new production cuts and has not officially said that a cut is needed.
  • Shekel gains against dollar as Fed cools on rate hikes

    Markets

    Wall Street embraced the news with a rally for Treasuries and surge of more than 2 per cent for major USA stock indexes. Federal Reserve officials signaled they're adopting a more flexible approach in their gradual interest-rate increases after a likely December hike, as they try to sustain a US expansion that may become the longest on record next year.
  • US, Canada, Mexico continue brinkmanship on trade deal

    US, Canada, Mexico continue brinkmanship on trade deal

    Markets

    The deal comes after more than a year of negotiations between the parties, with agreement on new vehicle and dairy industry regulations proving particularly challenging. 'The new agreement will assure a new prosperity, ' he added. The signing event and the leaders' remarks are being livestreamed. 'It's been so well reviewed I don't anticipate much of a problem, ' he said.
  • The Fed’s No. 2 on Rate Hikes and Inflation

    The Fed’s No. 2 on Rate Hikes and Inflation

    Markets

    It isn't clear that these conditions could trigger a recession on their own, he said , noting that the ratio of corporate debt to economic output didn't seem unusual. Powell said that the outlook for the US economy remains solid and that interest rates are almost within a "neutral" range . Rates "are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy", he added.
  • Trump downplays GM plant closings, repeats false claim about steel plants

    Trump downplays GM plant closings, repeats false claim about steel plants

    Markets

    As far as Trump's claim that automakers are pouring into the country, the only USA plant that has been announced during his administration so far has been one by Toyota-Mazda in Alabama. However, taking away that credit, which is phasing out for GM models anyway, may prove hard for Mr. Trump. Trump has expressed disappointment with GM and its chief executive officer, Mary Barra, for the decision to close the plants.
  • Trump threatens to cancel Putin meeting amid Russia-Ukraine tensions

    Trump threatens to cancel Putin meeting amid Russia-Ukraine tensions

    Markets

    U.S. President Donald Trump said Thursday a trade deal with Beijing was "close" but added he might prefer not to reach one, cooling hopes for a breakthrough at a summit this week. If the tone between the two sides seems to have brightened, the Aussie, which isn't far above the more than two-year low it set last month, is worth getting excited about, said McCormick at NatWest.