Australian shares are expected to claw back some of Tuesday's sharp losses following a rebound on global markets overnight.AUD: 69.4 US cents, 53.76 British pence, 61.92 euro cents, 76.11 Japanese yen, $NZ1.06Europe: FTSE 100 +1.1pc at 7,242, DAX +1pc 11,992, CAC +1.5pc at 5,341, Euro Stoxx 50 +1.3pc at 3,364At 7:22am , ASX futures had risen 0.4 per cent.In local economic news, Westpac and the Melbourne Institute are due to publish their latest consumer confidence report.
Reuters-polled economists are expecting Australian wages to have risen 0.6 per cent in the first quarter, or 2.3 per cent since last year.US President Donald Trump has tried to downplay the US-China trade war as a minor disagreement. "We're having a little squabble with China because we've been treated very unfairly for many, many decades," Mr Trump said on Tuesday.
The Nasdaq closed 1.1 per cent higher at 7,734, and the benchmark S&P 500 lifted 0.8 per cent to 2,834.
Imagine having a leader of your country who is determined to make your economy stronger regardless of the impact on trading competition. Must be terrible ha ha
And soon it will implode. 40-60 % correction between 2019 and 2022.
Does Trump honestly believe factories are suddenly going to spring up all over the US with his on again off again tariffs? Industry needs long term stability before investing.
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Wall Street stocks plummet amid US-China trade war escalations | Sky News AustraliaWall Street has suffered its biggest losses of the year as markets respond to US-China trade tensions. \n\nAll three major US indexes dropped in a widespread sell-off, with Nasdaq posting its largest one-day percentage loss this year. \n\nBoth the S&P 500 and the Dow also saw their most substantial percentage downturns since January 3.\n\nThe fall has set up the Australian sharemarket for a steep decline on Tuesday, the ASX 0.9 per cent lower at the open and the Australian dollar sinking 0.8 per cent. \n\nThe volatility has come after China announced it would retaliate against the US by matching its tariff increase of 25 per cent in a tit-for-tat escalation. \n\n\n\n\n\n\n\n\n\n\n Well there go the Franking Credits. Sorry bout that Bill, you're to late.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'A lot of uncertainty': Wall Street dives as US-China trade war escalatesWall Street took a pounding on Monday after China defied Washington by announcing retaliatory tariffs on US goods. Wall Street and Washington want you to believe the stock market isn't rigged
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Australian shares follow Wall St dive after China retaliates against US tariffsThe Australian share market drops sharply in early trade — after China retaliated against US tariffs, causing Wall Street to suffer its worst trading day since early-January. The issue, is irresponsible Donald Trump, is playing with other people’s loot. Something he has done all his life....grow up USA and give him the Tijuana Brass....
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Wall St fails to rebound with Trump 'happy' to impose tariffs on ChinaThe Trump administration will increase tariffs on $US200 billion of Chinese goods at 2:01pm (AEST) on Friday — right in the middle of US-Chinese trade talks. Good. If only he was as good at politics as he is at economics.
Source: abcnews - 🏆 5. / 83 Read more »
Trump urged to resolve China tensions as Wall Street plungesUS President Donald Trump is being urged to pull back from his tariff threat and quickly bring an end to the trade dispute with China.
Source: newscomauHQ - 🏆 9. / 77 Read more »
US-China trade war escalates but Trump says 'no need to rush'President Donald Trump has said there is 'no need to rush' trade talks with China, just hours after the US hiked tariffs on Chinese products.
Source: SBSNews - 🏆 3. / 89 Read more »
'Tariffs make us stronger': Trump digs in for protracted fight with ChinaAs talks ended without a deal, Trump erroneously wrote there was no rush now as the new tariffs he imposed on Chinese goods would 'go straight' to the US Treasury. KnottMatthew Red neck and spoilt brat at large..... KnottMatthew is this guy goading china into a war? i recall that the usa had oil embargoes on japan in 1941 and look what happened! KnottMatthew Dont want a protracted trade war Trade is a stimulus to economic growth.
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Trump defends China trade negotiations as global markets fall
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China hits back at Trump’s tariffsAn ongoing trade feud between two of the world’s most powerful countries has ramped up even further, with China announcing higher tariffs on the United States. looks like looking to be a tough bully is going to cost US fair bit, all thanks to MrTrump :p And so it begins.... realDonaldTrump 15-all.
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Donald Trump blasts Xi Jinping as China trade war drags onDonald Trump has unleashed on President Xi Jinping in a furious Twitter rant, blaming China for the trade war between the two nations. Keep up the pressure, soon some one will be on the knee and start begging, it all fun and game isn't it:)) Hahaha, is that fear I smell? China needs USA more than vice versa. Fake media has no idea what’s at stake here.
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Trade war: US slugs China with higher tariffs, as China vows to hit backThe United States has pulled the trigger on a steep increase in tariffs on Chinese products - and Beijing immediately vowed to hit back That’s a tug not a barge!
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