Financial News

Talmage Watson
November 7, 2018
AP-NC Newswatch
November 8, 2018
Financial News

 

 

 

 

World markets mixed … Fed expected to hold off on another interest rate hike … New Tesla board chair

 

SINGAPORE (AP) – World markets were mixed today after the U.S. midterm elections quelled fears of a drastic shift in policies. In Europe, Germany’s DAX fell back, losing 0.3 percent and the CAC 40 in France slipped 0.2 percent. Britain’s FTSE 100 gained 0.2 percent. Japan’s Nikkei rallied 1.8 percent and Hong Kong’s Hang Seng closed up 0.3 percent. Wall Street is set to open lower after rebounding in the previous session. Futures for the S&P 500 index are down 0.5 percent and Dow futures are 0.3 percent lower.

 

WASHINGTON (AP) – The Federal Reserve appears on track to raise interest rates once more this year but will likely hold off on any action when its latest policy meeting ends today. So far this year, the central bank has raised rates three times. In recent weeks, financial markets have been gripped by worry and volatility, and some analysts think that in its statement Thursday the Fed may take note of that anxiety as a potential risk to economic growth.

 

BEIJING (AP) – Growth in Chinese exports to the United States ticked up in October as traders rushed to beat a new tariff hike in a battle over Beijing’s technology policy. Shipments to the United States, China’s biggest market, have been unexpectedly resilient since Trump started imposing punitive tariffs goods in July in a fight over Beijing’s technology policy. Customs data show exports rose 13.3 percent in October over a year earlier to $42.7 billion, up from September’s 13 percent growth.

 

TEHRAN, Iran (AP) – Iran’s oil minister predicts a painful time for international oil customers as U.S. sanctions take hold, saying waivers Washington granted to eight major oil-importing countries are not enough for market demands. The oil minister tells Iranian state TV that he sees the months ahead as “painful months for oil consumers.” The United States on Monday re-imposed oil and banking sanctions on Iran that where lifted under the 2015 nuclear deal but granted waivers to eight major importers to continue buying Iranian petroleum products without penalty for another six months.

 

BANGKOK (AP) – Tesla says that Robyn Denholm of Australia’s Telstra will become its new board chair. Tesla says Denholm is leaving Australia’s biggest telecoms company after being there for six months. The Tesla appointment takes effect immediately. Denholm already is on Tesla’s board. Elon Musk agreed to vacate his post as board chairman as part of a settlement with U.S. regulators of a lawsuit alleging he duped investors with misleading statements about a proposed buyout of the company.

 

 

AP-WF-11-08-18 1145GMT