Trade war fears; Danske Bank in trouble; Brexit talks

1. Trade war developments: Global markets appear largely unfazed by the latest escalation i...

Posted: Sep 19, 2018 12:11 PM
Updated: Sep 19, 2018 12:11 PM

1. Trade war developments: Global markets appear largely unfazed by the latest escalation in the trade war between the United States and China.

The Trump administration announced Tuesday it will hit $200 billion worth of Chinese goods with new tariffs. China immediately retaliated, saying it will impose tariffs on US goods worth $60 billion.

Chinese Premier Li Keqiang calmed the waters on Wednesday, announcing China "will never go down the path of stimulating exports by devaluing its currency." Investors were worried China might start fighting the trade war through the yuan.

US stock futures were flat on Wednesday. European markets opened higher. Asian markets were mixed, but stocks in China and Hong Kong ended the session higher.

The Dow Jones industrial average gained 0.7% on Tuesday, while the S&P 500 added 0.5%. The Nasdaq advanced 0.8%.

Watch CNNMoney's 'Markets Now' at 12:45 p.m. ET

2. Danske Bank in trouble: Shares in Denmark's largest bank dropped over 5% after an internal investigation uncovered a large number of suspicious accounts and transactions at its branch in Estonia.

CEO Thomas Borgen said he will step down once a replacement is found.

Danske Bank said the investigation into potential money laundering had found "a large number of non-resident customers in Estonia that we should have never had."

3. Brexit talks: EU leaders are gathering in Salzburg for an informal summit that could produce a breakthrough in deadlocked Brexit negotiations.

British Prime Minister Theresa May will make a pitch to her fellow European leaders for a continued close relationship between the United Kingdom and the European Union. Businesses are increasingly worried about the possibility of the United Kingdom dropping out of the union without a deal.

The issue of the border between Norther Ireland and Ireland will be high on the agenda — both sides have said they want to avoid the return of a hard border.

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4. Companies and economics: Herman Miller will release earnings after the US close.

The US Census Bureau will publish its August housing starts report at 8:30 a.m. ET.

Nintendo stock gained 2.4% in Tokyo after the company launched a new paid membership service, Nintendo Switch Online.

Shares in Sony advanced 0.5% after the company announced it would release a miniaturized version of its PlayStation Classic in December.

British developer and home improvement company Kingfisher reported a 15% drop in profits in the first half of the year. It attributed the loss to a poor performance in France.

The Bank of Japan left interest rates unchanged on Wednesday, in line with expectations.

UK inflation rose unexpectedly in August to 2.7%, from 2.5% in July. Economists had expected the rate to drop to 2.4%.

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5. Coming this week:
Thursday — Darden Restaurants and Micron Technology earnings
Friday — S&P reclassification; new iPhones and Apple Watch hit stores

Indiana Coronavirus Cases

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Confirmed Cases: 109683

Reported Deaths: 3495
CountyConfirmedDeaths
Marion20510758
Lake10095315
Elkhart6268107
St. Joseph593596
Allen5849198
Hamilton4589109
Vanderburgh322728
Hendricks2617120
Monroe230036
Johnson2236122
Tippecanoe214213
Clark208156
Porter201144
Cass19239
Delaware182460
Vigo173822
Madison154675
LaPorte135137
Floyd128661
Howard126163
Kosciusko117417
Bartholomew114257
Warrick109335
Marshall97524
Boone94046
Dubois92718
Hancock89842
Noble86932
Grant85833
Henry74224
Wayne73614
Jackson7279
Morgan68538
Shelby66129
LaGrange62911
Daviess62827
Dearborn61628
Clinton59012
Harrison55124
Putnam5159
Lawrence50028
Montgomery49521
White47514
Knox4689
Decatur45039
Gibson4444
DeKalb43111
Miami4223
Greene41335
Fayette41213
Jasper3752
Steuben3577
Scott35010
Sullivan32612
Jennings30712
Franklin29325
Posey2910
Clay2885
Orange28124
Ripley2788
Carroll26713
Wabash2588
Washington2511
Wells2462
Starke2457
Whitley2446
Jefferson2383
Adams2343
Fulton2292
Tipton21522
Huntington2123
Spencer2074
Randolph2037
Perry19914
Newton16711
Jay1660
Owen1641
Martin1570
Rush1494
Pike1341
Vermillion1240
Fountain1152
Pulaski1131
Blackford1092
Brown993
Crawford990
Parke932
Benton880
Ohio767
Union760
Switzerland670
Warren381
Unassigned0225

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 142596

Reported Deaths: 4608
CountyConfirmedDeaths
Franklin25658603
Cuyahoga16981643
Hamilton12622307
Montgomery7402151
Lucas7051356
Butler550899
Summit5056248
Marion305447
Mahoning2981279
Warren287648
Stark2706168
Pickaway262344
Lorain223886
Delaware209320
Fairfield198350
Columbiana191480
Trumbull1841131
Licking183562
Clark170438
Wood164671
Clermont159420
Lake155849
Medina141238
Allen135367
Miami132649
Greene131326
Portage105666
Mercer103317
Tuscarawas90819
Wayne89366
Erie88044
Ross84822
Richland77518
Madison77012
Darke75239
Belmont70427
Geauga70147
Hancock6469
Ashtabula63848
Athens5812
Lawrence58118
Shelby5599
Auglaize5559
Sandusky55220
Putnam52823
Huron5207
Union4742
Ottawa46430
Scioto4556
Seneca42914
Preble41513
Holmes3697
Muskingum3652
Jefferson3184
Henry29012
Logan2883
Champaign2853
Perry2839
Knox27715
Clinton27613
Defiance27610
Brown2722
Hardin24813
Morrow2472
Washington24223
Coshocton23011
Fulton2281
Fayette2236
Jackson2234
Highland2193
Ashland2164
Crawford2136
Wyandot20012
Williams1953
Gallia17912
Meigs1689
Hocking1599
Guernsey1557
Carroll1497
Pike1440
Adams1194
Van Wert1113
Monroe10618
Paulding1010
Harrison601
Morgan470
Vinton453
Noble250
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