- Reuters/Romeo Ranoco
Here is what you need to know.
Trump leaves China – then without naming it slams it on trade. “When the United States enters into a trading relationship with other countries or other peoples, we will from now on expect that our partners will faithfully follow the rules,” President Donald Trump said in Danang, Vietnam.
China takes a key step to opening its markets to foreign investors. China announced plans to relax foreign-ownership restrictions on Chinese banks, effective immediately, and said it would also lift the ceiling on foreign-ownership limits for securities funds and joint ventures to 51% from 49% over the next three years.
Theresa May is ready to surrender to the European Union over the Brexit divorce bill. UK Prime Minister Theresa May is willing to pay billions more than the 20 billion pounds she has already discussed to secure a transition deal, the Financial Times says.
Australia’s central bank cuts its inflation forecast. The Reserve Bank of Australia forecasts that inflation will move back to the bottom of its target range of 2% to 3% by the middle of 2019.
Pea prices in India are going nuts. Prices are up more than 25% after the Indian government announced a 50% import tax on the shipment of peas in response to increased competition from foreign producers, namely Canada, the Times of India reports.
Disney misses. Shares slumped about 4% in after-hours trading Thursday after the company missed on both the top and bottom lines.
Nvidia blows past estimates. The chipmaker earned $1.33 a share on revenue of $2.64 billion, easily beating Wall Street estimates as revenue from its data-center business soared 175% versus a year ago.
Stock markets around the world are lower. Japan’s Nikkei (-0.82%) lagged in Asia, and France’s CAC (-0.27%) trails in Europe. The S&P 500 is set to open lower by 0.28% near 2,576.
Earnings reports trickle out. J.C. Penney reports ahead of the opening bell.
US economic data is light. University of Michigan consumer confidence will be released at 10 a.m. ET. The US 10-year yield is higher by 3 basis points at 2.37%.