Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Log In Today’s Paper Supported by Strategies ByJeff Sommer Nov. 9, 2018 So much for the midterms. Now the markets can start obsessing about gridlock, impeachment and the 2020 election. And they can resume worrying about bread-and-butter issues like corporate earnings, interest rates and the threat of rising tariffs and recession. Uncertainty about control of Congress has at last been lifted: Come January, the Democrats will run the House, while the Republicans will retain a slender majority in the Senate. From the standpoint of the markets, that welcome clarity on Wednesday set off the biggest one-day midterm election rally since 1982. And while investors were relieved that the results conformed with Wall Street expectations, longstanding financial concerns were made even more visible while introducing a series of other political problems. … [Read more...] about Now, the Markets Can Worry About Other Things. Here’s a List.
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Log In Today’s Paper Supported by Fact Check of the Day At a news conference, the president answered a question about healing national divides by saying, falsely, that he had forced China to back down from a plan to strengthen its manufacturing industry. ByRaymond Zhong Nov. 9, 2018 What Trump said If you know, China has come down tremendously. Tremendously. China would have superseded us in two years as an economic power; now, they’re not even close. This is exaggerated. It’s true that China’s growth is slowing. The economy expanded 6.5 percent in the three months that ended in September, the slowest pace in almost a decade. (Those are the official numbers, at least. Many economists believe Beijing’s statistics are implausibly smooth and do not square with outside estimates.) But even if China’s growth rate … [Read more...] about Fact-Checking Trump’s Claims About the Chinese Economy
Sections SEARCH Skip to content Skip to site index Economy Subscribe Log In Log In Today’s Paper Supported by A change in control will block renewed tax-cut initiatives, but there may be room for accord on drug pricing and even stimulus, if the recovery falters. ByPatricia Cohen Nov. 7, 2018 The Democrats’ success in winning back control of the House comes after an election in which economic issues were often overshadowed. Even so, the change on Capitol Hill is likely to make a difference on some spending priorities and tax policy. House Democrats are in a position to block Republicans from extending the temporary tax cuts and provisions for individuals and small businesses that were enacted last year, and from pushing for further tax breaks for businesses. The momentum on health care has shifted toward shoring up and improving the Affordable Care Act and reining in Still, the larger economic story line of the year … [Read more...] about How the Democratic House May Shift the Economic Equation
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Log In Today’s Paper Supported by ByCarlos Tejada Nov. 7, 2018 HONG KONG — Investors on Wednesday appeared to take the prospect of a divided government in Washington in stride, as Asian markets fell modestly, European markets opened higher and Wall Street looked set for a mildly positive opening. Markets in Tokyo, Hong Kong and Shanghai fell slightly as the Democratic Party won a majority in the United States House of Representatives. The election results were largely as expected, and trading during the Asia day was tame. In Europe, the major stock markets opened about 1 percent higher. The biggest fall in Asia was in China, where slowing economic growth and the trade war with the United States have been the main market drivers in recent months. Stocks there were down about 0.6% late on Wednesday. Other Asian markets were down less than half … [Read more...] about The Election Showed a Divided Country. Investors Can Live With That.
Sections SEARCH Skip to content Skip to site index Energy & Environment Subscribe Log In Log In Today’s Paper Supported by Markets have taken the Trump administration’s move in stride so far. But experts differ on whether a reduction in output could yet prove disruptive. ByClifford Krauss Nov. 5, 2018 HOUSTON — The world’s oil producers and their customers entered a new period of uncertainty on Monday as renewed American economic sanctions against Iran took effect. Having withdrawn from the seven-nation deal negotiated under his predecessor to curb Iranian nuclear efforts, President Trump is aiming to pressure Iran to curb its political and military activities across the Middle East. And the administration is betting that its policy will inflict pain on Tehran without causing a spike in oil prices or an aggressive reaction. It is a gamble that could eventually cost American consumers at the gasoline … [Read more...] about Iran Sanctions and Oil Prices: Who’ll Feel the Pain?