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Tariff fallout; China's oil trade; Remington bankruptcy

1. Trade war fears: Wall Street is bracing for more fallout from President Donald Trump's tariff ann...

Posted: Mar 26, 2018 2:23 PM
Updated: Mar 26, 2018 2:23 PM

1. Trade war fears: Wall Street is bracing for more fallout from President Donald Trump's tariff announcements.

US Treasury Secretary Steve Mnuchin calmed nerves a little on Sunday, telling Fox News that he was "cautiously hopeful" the United States and China could reach an agreement that would avert the tariffs.

"As President Trump said, we're not afraid of a trade war, but that's not our objective," he said.

Trump said Thursday that he would impose tariffs on about $50 billion worth of Chinese imports after accusing the world's second biggest economy of stealing US intellectual property.

On Friday, Trump's global tariffs on steel and aluminum, which also include China, went into effect. China has announced its own tariffs on $3 billion worth of US imports.

2. Shanghai oil trading: The Shanghai International Energy Exchange launched crude oil futures trading on Monday. It's the first time oil futures will be traded in Asia, with prices settled in Chinese yuan.

Data from Wood Mackenzie show China surpassed the United States to become the world's largest importer of crude in 2017. Its import requirements are expected to grow by more than any other country over the next five years.

"China would want to play a more active role in influencing the price of crude oil," said Sushant Gupta, Wood Mackenzie's research director.

3. Global market overview: US stock futures were pointing up.

Markets in Europe and Asia were mostly higher following heavy losses at the end of last week.

The Dow Jones industrial average closed 1.8% lower on Friday, dropping to its lowest point since November. The S&P 500 shed 2.1% and the Nasdaq declined 2.4%.

US crude futures were 0.8% lower on Monday.

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4. Earnings and economics: Uber is selling its business in Southeast Asia to local rival Grab, the companies said in a statement Monday. Uber had already admitted defeat in China and Russia.

British retailer JD Sports Fashion has announced a deal to buy Finish Line for $558 million. Shares in JD Sports Fashion were trading 3.5% higher in London.

Remington Outdoor Brands, one of the oldest and best-known gun makers in the world, filed for bankruptcy on Sunday. The move allows Remington to stay in business while restructuring its massive debt.

The French statistics agency said the country's economy grew by 0.7% in the fourth quarter. GDP growth for 2107 was 2%.

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5. Coming this week:
Tuesday - Lululemon earnings; US consumer confidence
Wednesday - Blackberry, Gamestop and Walgreens Boots Alliance earnings; US fourth-quarter GDP final look
Thursday - Constellation Brands earnings; UK fourth-quarter GDP final look; US personal spending and consumer sentiment
Friday - US markets closed for Good Friday

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 31715

Reported Deaths: 1984
CountyConfirmedDeaths
Marion9189533
Lake3299167
Cass15826
Allen127766
St. Joseph117034
Hendricks112367
Hamilton109992
Johnson1082104
Elkhart100827
Madison58258
Porter48721
Bartholomew48033
Clark45838
LaPorte40821
Tippecanoe3733
Jackson3611
Howard35618
Delaware35434
Hancock31927
Shelby31421
Floyd31338
Boone28235
Morgan26124
Vanderburgh2482
Montgomery22717
White2268
Decatur22431
Clinton2151
Noble18520
Grant18520
Harrison18521
Dubois1822
Greene16723
Warrick16426
Dearborn16221
Monroe16010
Henry1597
Vigo1477
Lawrence14322
Miami1391
Putnam1337
Jennings1274
Orange12422
Scott1183
Ripley1126
Franklin1068
Carroll922
Kosciusko861
Daviess8216
Steuben792
Newton7410
Wabash722
Wayne695
Fayette654
Marshall641
LaGrange602
Jasper561
Washington521
Fulton471
Rush452
Jay430
Jefferson411
Randolph403
Pulaski390
Clay391
Whitley392
Brown331
Sullivan321
Starke313
Owen311
DeKalb291
Perry270
Huntington262
Benton250
Knox240
Crawford230
Wells230
Tipton221
Blackford201
Switzerland190
Fountain182
Parke170
Posey170
Spencer161
Gibson142
Ohio130
Adams121
Warren121
Vermillion90
Martin90
Union80
Pike60
Unassigned0152

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 32477

Reported Deaths: 1987
CountyConfirmedDeaths
Franklin5310237
Cuyahoga3963217
Marion261921
Hamilton2458128
Lucas2126229
Pickaway204335
Mahoning1341169
Summit1236159
Butler80225
Stark68589
Lorain64858
Columbiana60950
Montgomery60515
Trumbull52942
Belmont39012
Miami34830
Warren33619
Tuscarawas3182
Portage31458
Medina30219
Delaware30013
Ashtabula28132
Wood27645
Lake26811
Geauga25729
Wayne25050
Fairfield2403
Clark2236
Licking20710
Allen19131
Mercer1903
Clermont1885
Richland1863
Erie1575
Darke15316
Madison1347
Washington11718
Crawford1043
Morrow1041
Greene935
Ottawa917
Putnam8714
Monroe7111
Sandusky6810
Ross662
Hocking654
Auglaize643
Jefferson622
Huron551
Williams521
Hancock481
Muskingum450
Union450
Clinton430
Hardin410
Shelby412
Logan370
Fayette370
Wyandot362
Fulton360
Defiance322
Guernsey310
Preble301
Carroll282
Lawrence280
Holmes271
Champaign261
Brown251
Coshocton240
Knox231
Vinton191
Seneca192
Ashland180
Highland181
Perry181
Scioto150
Henry150
Athens141
Paulding130
Jackson110
Harrison100
Adams81
Gallia71
Pike60
Meigs60
Morgan50
Noble50
Van Wert50
Unassigned00
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