Trade talks resume; Tesla in Shanghai; Apple's Samsung TV deal

1. US-China trade talks: US and Chinese officials are meeting in Beijing Monday for two day...

Posted: Jan 7, 2019 12:05 PM
Updated: Jan 7, 2019 12:05 PM

1. US-China trade talks: US and Chinese officials are meeting in Beijing Monday for two days of talks aimed at ending the trade war that has been roiling global financial markets.

It's the first face-to-face discussion between the two countries since Presidents Donald Trump and Xi Jinping met in Argentina late last year and agreed on a 90-day truce.

Apple Inc

Asia

Banking, finance and investments

Business, economy and trade

China

Companies

Company activities and management

Company earnings

Continents and regions

East Asia

Economic indicators

Economy and economic indicators

Financial markets and investing

Financial performance and reports

Financial results

International trade

North America

Securities trading

Stock indexes

Stock markets

The Americas

Trade and development

United States

Government organizations - US

The Fed

US federal departments and agencies

US government independent agencies

Tesla Inc

Business figures

East China

Elon Musk

Shanghai

Donald Trump

Political Figures - US

Samsung Group

Investors are hoping the two sides will be able to reach a deal by March, when Trump has threatened to impose another round of tariffs and raise existing duties on some imports to 25% from 10%.

The Chinese yuan was trading higher against the dollar early on Monday.

2. Tesla breaks ground in Shanghai: Tesla (TSLA) officially began building its Shanghai Gigafactory Monday, with CEO Elon Musk breaking ground on the electric carmaker's new plant.

The company is aiming to start production of its cheapest car, the Model 3, at the plant by the end of the year, Musk said in a series of tweets before the event.

The Shanghai government said the factory is the biggest foreign manufacturing project in Shanghai's history.

Tesla is planning to make 250,000 cars a year in the factory, eventually increasing its capacity to 500,000. That's about five times the number of vehicles the company currently produces in the United States.

3. Apple lets Samsung in: Apple (AAPL) is opening up its ecosystem to one of its biggest rivals by giving owners of Samsung TVs direct access to iTunes content.

Starting in the spring, Samsung will include an iTunes app in its Smart TVs, the South Korean company announced Sunday at CES, the annual consumer technology conference in Las Vegas.

The new app will allow people to watch movies and TV shows they've already bought on iTunes, or buy new ones.

4. Government shutdown continues: The partial US government shutdown has entered its third full week, with President Trump threatening to declare a national emergency to bypass Congress and build his border wall.

Talks at the weekend involving congressional staffers and led by Vice President Mike Pence failed to make meaningful progress toward ending the standoff, according to acting White House chief of staff Mick Mulvaney.

Trump is demanding more than $5 billion in wall funding before agreeing to reopen the government. Democrats have offered about $1.5 billion for border security, but no taxpayer dollars for a wall, which the president promised Mexico would pay for.

5. Global market overview: US stock futures were flat early on Monday.

European markets opened slightly higher Monday and stocks in Asia were also firmer.

US oil futures have jumped 2% early on Monday to trade at $49 per barrel as investors appeared less pessimistic about the outlook for the global economy thanks to the strong US jobs report Friday.

"Oil has become closely linked to the risk environment lately, with a global slowdown being an obvious downside risk for prices," said Craig Erlam, senior market analyst at Oanda, an online broker.

The jobs report and a promise by the Federal Reserve Chairman Jerome Powell to be "patient" and flexible while raising rates gave Wall Street a big boost on Friday. Investors were also encouraged by China's efforts to stimulate its economy and news of the US-China trade talks.

The Dow Jones industrial average closed up 3.3% while the S&P 500 was up 3.4%. The Nasdaq shot up 4.3%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

6. Companies and economics: The Institute for Supply Management will report on the service industry's growth last month. Last week, ISM reported that the manufacturing industry shrank by the largest amount in 10 years.

The UK Society of Motor Manufacturers and Traders said Monday new car registrations in the country fell 6.8% in 2018. It was the second consecutive year of declines. "Falling consumer confidence, confusing fiscal and policy messages and shortages due to regulatory changes have combined to create a highly turbulent market," said Mike Hawes, the society's chief executive.

7. Coming this week:
Monday — US officials in China for trade talks
Tuesday — The floor opens at the Consumer Electronics Show
Wednesday — Constellation Brands (STZ), KB Home (KBH) and Bed Bath & Beyond (BBBY) earnings; Fed minutes
Thursday — Federal Reserve Chairman Jerome Powell speaks at the Economic Club in Washington, DC; Sears returns to bankruptcy court to potentially get a decision that could determine its future
Friday — CPI reports

Terre Haute
Overcast
49° wxIcon
Hi: 63° Lo: 57°
Feels Like: 45°
Robinson
Overcast
47° wxIcon
Hi: 62° Lo: 56°
Feels Like: 43°
Indianapolis
Overcast
46° wxIcon
Hi: 60° Lo: 56°
Feels Like: 42°
Rockville
Overcast
42° wxIcon
Hi: 61° Lo: 55°
Feels Like: 36°
Casey
Overcast
46° wxIcon
Hi: 61° Lo: 54°
Feels Like: 41°
Brazil
Overcast
49° wxIcon
Hi: 62° Lo: 57°
Feels Like: 45°
Marshall
Overcast
49° wxIcon
Hi: 61° Lo: 55°
Feels Like: 45°
Mostly cloudy, a bit warmer.
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events

 

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 350744

Reported Deaths: 9496
CountyConfirmedDeaths
Cook1651985364
DuPage20947598
Lake19546503
Will16898419
Kane15422341
Winnebago9114165
St. Clair7559213
Madison6795152
Champaign568028
McHenry5642120
Peoria424362
McLean386730
Rock Island367088
Unassigned3627260
Sangamon347554
Kankakee316878
Macon256848
Kendall247027
Tazewell240547
LaSalle218460
DeKalb209542
Coles178838
Williamson170958
Boone165524
Adams163315
Clinton158724
Vermilion15417
Jackson143325
Whiteside115222
Randolph114514
Knox10969
Effingham10903
Ogle10527
Grundy8777
Jefferson85844
Monroe84928
Bureau84717
Marion84512
Franklin8406
Stephenson8147
Morgan79624
Henry7945
Christian77125
Macoupin7319
Union73025
McDonough66515
Fayette63019
Crawford6246
Lee6121
Shelby5868
Livingston54910
Montgomery54815
Douglas5458
Logan5434
Woodford54311
Saline5037
Bond4669
Jersey45621
Iroquois45119
Warren4517
Cass44911
Wayne43410
Jo Daviess4275
Perry40616
Fulton4030
Moultrie3755
Carroll3658
Richland31714
Johnson3130
Lawrence3068
Hancock2843
Clay28111
Washington2781
Greene26915
Clark2666
Pike2604
Cumberland2536
Jasper24710
Mason2351
White2351
De Witt2273
Pulaski2261
Mercer2196
Piatt2070
Wabash2055
Ford1799
Menard1591
Massac1412
Edgar1398
Marshall1373
Hamilton1132
Henderson1110
Alexander1081
Gallatin1052
Edwards980
Brown960
Scott930
Putnam850
Schuyler801
Stark792
Calhoun690
Hardin490
Pope361
Out of IL20

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Confirmed Cases: 149166

Reported Deaths: 3960
CountyConfirmedDeaths
Marion24564781
Lake13079350
St. Joseph8788157
Elkhart8371132
Allen7815221
Hamilton5923113
Vanderburgh553050
Tippecanoe350914
Monroe319438
Hendricks3140130
Johnson2972127
Porter293248
Clark282157
Delaware279674
Vigo248837
Madison226991
Cass221020
LaPorte213057
Warrick186563
Kosciusko173121
Floyd172766
Howard157466
Bartholomew138657
Dubois133724
Marshall130626
Henry121828
Boone118648
Grant118039
Wayne117123
Hancock114144
Noble111333
Jackson107412
Morgan91540
Dearborn90328
Daviess83732
Gibson82611
Clinton81316
Shelby78329
Lawrence77832
LaGrange76615
Harrison73324
Knox69610
Putnam69515
DeKalb68611
Posey6745
Steuben5888
Miami5765
Fayette57515
Montgomery56422
White56215
Jasper5464
Greene51237
Scott50613
Decatur49439
Adams4645
Whitley4316
Clay4276
Sullivan42412
Ripley4178
Wells4125
Orange38624
Wabash3859
Starke3847
Huntington3695
Spencer3686
Franklin36325
Jennings35913
Washington3512
Randolph3378
Fulton3292
Jefferson3285
Pike31612
Carroll30813
Perry28914
Jay2816
Fountain2743
Tipton26623
Parke2182
Newton21111
Vermillion2111
Rush2034
Owen1991
Martin1950
Blackford1903
Crawford1481
Pulaski1431
Brown1283
Ohio1187
Benton1070
Union1020
Switzerland840
Warren731
Unassigned0233