Lack of G7, IMF support seen dimming impact of U.S. move on China’s yuan
China is unlikely to face serious consequences from the Trump administration’s decision to label it a currency manipulator given the apparent lack of G7 and IMF support for the move, former and current U.S. and G7 officials said.
IMF stands by yuan view; says China could need stimulus if trade war worsens
The International Monetary Fund on Friday stood by its assessment that the value of China’s yuan was largely in line with economic fundamentals, but an IMF official said the fund was encouraging China to pursue a more flexible exchange rate with less intervention.
Goldman has a new strategy for beating the market during the trade war
Goldman Sachs has a new battle plan for the trade war: Buy service-providing stocks and avoid goods-producing companies.
Housing sentiment hits record high, as bidding wars vanish
Falling mortgage rates and strong employment drove consumer confidence in housing to a record high in July, according to a monthly index from Fannie Mae.
Stocks still have room to fall, but look to buy the dip, JP Morgan says
Stocks have fallen sharply as a trade war between the world’s two biggest economies ramped up in the past week, and according J.P. Morgan, it’s a good time to start buying.
U.S. economy slows in second quarter; consumer spending accelerates
U.S. economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health.
UPS shares surge nearly 9% as demand for faster shipping drives a revenue jump
Shares of UPS surged as demand for faster delivery powered a second quarter that beat Wall Street expectations.
U.S. business investment stabilizing, economy slowing
New orders for key U.S. made capital goods surged in June, suggesting some improvement in business investment, but economic growth is still expected to have slowed sharply in the second quarter amid weaker exports and a smaller inventory build.
U.S. labor market strong; mid-Atlantic manufacturing rebounds
The number of Americans filing applications for unemployment benefits increased moderately last week, pointing to still strong labor market conditions despite signs that economic activity was slowing.
Negative earnings season just turned positive as companies beat lower forecasts
After a great start to earnings season, overall profits are no longer expected to decline