Trade tensions ease; UBS dips; Google earnings

1. Trade war fears ease: China said Sunday it would "welcome" direct trade talks with the United Sta...

Posted: Apr 23, 2018 2:06 PM
Updated: Apr 23, 2018 2:06 PM

1. Trade war fears ease: China said Sunday it would "welcome" direct trade talks with the United States, a day after US Treasury Secretary Steven Mnuchin said he would consider a trip to China.

Mnuchin said he was "cautiously optimistic" the United States could broker a trade deal with Beijing.

The world's two biggest economies have threatened each other with tariffs, rattling financial markets.

Meanwhile, Mexico and the European Union agreed a new trade deal over the weekend. The deal removes virtually all tariffs on goods, and marks a move by Mexico to reduce its reliance on trade with the United States.

It also opens the door for companies in the European Union or Mexico to bid for government contracts in the other.

2. UBS dips: Shares in UBS dropped as much as 4.4% in early trade in Zurich on Monday.

The bank posted earnings for the first quarter that beat forecasts, but investors focused on a weaker than expected performance by its global private wealth management division.

3. Global market overview: US stock futures were dipping lower early on Monday.

European markets opened mostly down, following a negative session in Asia.

The Dow Jones industrial average shed 0.8% on Friday, while the S&P 500 lost 0.9%. The Nasdaq was 1.3% lower.

US crude oil futures dipped 0.8% early on Monday, trading at $68 per barrel.

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4. Earnings and economics: Alaska Air, Halliburton, Hasbro, Kimberly-Clark, and Philips are set to release earnings before the open Monday. Alphabet, the owner of Google, Sallie Mae, TD Ameritrade, and Whirlpool will follow after the close.

The Existing Home Sales report for March is set to be released at 10 a.m. ET.

Surveys of business confidence in manufacturing and services came in slightly above expectations in Germany and France.

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5. Coming this week:
Monday - Alphabet, Hasbro, Kimberly-Clark and Whirlpool earnings
Tuesday - Caterpillar, Coca-Cola, Jetblue, Lockheed Martin, Restaurant Brands, Southwest, Verizon and Wynn Resorts earnings; Conference Board's consumer confidence index
Wednesday - AT&T, Boeing, Chipotle, Comcast, Dr Pepper Snapple, Facebook and Twitter earnings
Thursday - Time Warner, American Airlines, Dunkin' Brands, General Motors, PepsiCo, Starbucks and Southwest earnings
Friday - Exxon earnings; Q1 GDP

Indiana Coronavirus Cases

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Illinois Coronavirus Cases

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Confirmed Cases: 118917

Reported Deaths: 5330
CountyConfirmedDeaths
Cook771193603
Lake8238288
DuPage7620368
Kane6259176
Will5510273
Winnebago220955
McHenry153972
St. Clair112180
Kankakee90045
Kendall77819
Rock Island65124
Champaign6277
Madison57259
Boone44117
DeKalb3994
Sangamon34829
Jackson28210
Randolph2694
Peoria2218
McLean21813
Ogle2033
Stephenson2012
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Clinton18617
Union15510
LaSalle15013
Whiteside13912
Iroquois1314
Coles12615
Out of IL1181
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Grundy982
Knox980
Monroe9511
McDonough8711
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Unassigned800
Cass730
Tazewell725
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Williamson661
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Perry420
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Clark110
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Piatt110
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Johnson80
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Marshall50
De Witt40
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