News Stocks 

Nucor’s stock drops after downbeat profit outlook

“NUE, -0.16% dropped 2.4% in premarket trade Thursday, after the steelmaker provided a downbeat profit outlook for the fourth quarter, citing the continued negative impacts of imports” writes Reporter Editor for marketwatch.com. The company said it expects earnings per share of 50 cents to 55 cents, excluding impacts of federal tax legislation. The stock has tacked on 3.9% year to date through Wednesday, while the SPDR Materials Select Sector ETF XLB, +0.27% has climbed 20% and the S&P 500 SPX, -0.05% has gained 19%. Source: marketwatch.com Share This:

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News Oil 

Oil prices boosted by Chinese crude imports, elevated Mideast tensions

“Oil prices rose Friday, supported by elevated geopolitical tensions and data showing an increase in Chinese crude imports” writes Christopher Alessi for marketwatch.com. The accord, first adopted a year ago, was meant to rein in a global oil supply glut and boost prices.Brent crude LCOG8, +1.72%  , the global benchmark, was up 1.5%, or 92 cents, at $63.12 a barrel on London’s Intercontinental Exchange. Read: Analysts expect these energy stocks to rise the most in 2018 as oil rebounds.  Source: marketwatch.com Share This:

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China logs strong exports, imports, as economy gains steam

“China reported strong growth Friday in both exports and imports in November in a reassuring sign for the world’s second-biggest economy” reports foxbusiness.com. They’re opposed to giving China market economy status, which would make it harder for them to win anti-dumping cases against Beijing for exporting goods at improperly low prices.Figures posted on the customs department website show exports expanded 12.3 percent to $217.4 billion in November over a year earlier.The optimism might not last as more trade frictions loom between China and the U.S. Last week Washington joined the…

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China’s trade data beats across the board

“Crude oil demand also increased, lifting to 37.04 million tons from 31.03 million tons a month earlier” writes David Scutt for businessinsider.com. Chinese trade data continues to impress with annual import and export growth, along with the nation’s trade surplus, beating expectations in November.Iron ore imports also lifted, jumping to 94.54 million tons from 79.49 million tons in October.Coal imports grew marginally, rising from 22.05 million tons from 21.28 million tons.Reflecting the impact of currency movements over the year, imports grew by 15.6% in local currency terms, above the 12.5%…

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Markets News 

Chinese ban on plastic waste imports could see UK pollution rise

“A ban on imports of millions of tonnes of plastic waste by the Chinese government from January could see an end to collection of some plastic in the UK and increase the risk of environmental pollution, according to key figures in the industry” writes Sandra Laville for theguardian.com. Pressure is growing on Thérèse Coffey, the environment minister, to take urgent action to support and build the UK recycling industry to meet the challenges created by the China ban.Recycling companies say the imminent restrictions by China – the world’s biggest market…

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Trade deficit soars as U.S. imports record amount of goods from China, Mexico, Europe

“The numbers: The U.S. trade deficit in October jumped 8.6% to a ninth-month high of $48.7 billion from $44.9 billion” writes Jeffry Bartash for marketwatch.com. Nearly half of the increase in the U.S. trade deficit was tied to larger imports of petroleum at higher prices.President Trump insists the trade deficit is bad news and he’s promised to shrink it, but few economists think he’ll make much headway after decades of large U.S. shortfalls.The trade gap averaged $46 billion from August to October compared to $40.9 billion in same three months…

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U.S. imports record amount of goods from China, Mexico, Europe as trade deficit soars

“The numbers: The U.S. trade deficit in October jumped 8.6% to a ninth-month high of $48.7 billion from $44.9 billion” writes Jeffry Bartash for marketwatch.com. Nearly half of the increase in the U.S. trade deficit was tied to larger imports of petroleum at higher prices.President Trump insists the trade deficit is bad news and he’s promised to shrink it, but few economists think he’ll make much headway after decades of large U.S. shortfalls.The big picture: The sharp increase in the trade deficit might be the only thing to prevent the…

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EU weakens powers to hit Chinese imports with trade tariffs

“New tariff rules on imports from China that could make it harder to discourage dumping of goods are set to be introduced by the European Union on Monday” writes Alan Tovey for telegraph.co.uk. An updated system to calculate levies on imported goods being sold at below cost prices is expected to be rubber stamped by the EU. The new system comes as China demands better treatment over its exports, bringing to an end the country being treated as a non-market economy, something which has helped the EU impose higher duties…

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It’s hard to figure out the impact the iPhone has on the global economy

“Yet such an impact is hard to see in aggregate economic data, despite the apparently obvious surge in technology around us” writes Jean Boivin for businessinsider.com. One would expect key economic data to reflect major efficiencies gained from such technologies in our jobs and everyday lives.The real puzzle is why we don’t see the broader efficiency impact technology should bring.And seasonal adjustment of aggregate trade data may mask the blips from iPhone releases, given that these have tended to occur around September.Aggregate data show overall economic performance since the crisis…

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US Oct advance goods trade balance USD -68.3 bln vs -64.9bln exp

“Soggy trade data as exports decrease and imports increase” reports forexlive.com. Large imports could be considered bullish as a sign of domestic demand though.USD a little softer though with inventories data lower. Also can be considered bullish though if you work on less on shelves = increased demand but markets don’t always go with that theory!.  Source: forexlive.com Share This:

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