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Aluminium Giant Alcoa Warns on Trade War, Stock Crashes 10%
Aluminum producer Alcoa reported better than expected second quarter earnings but warned going forward on the Trade War affect and tariffs. The outlook sent the stock down over 10% after the release.
Market Weekly: July 16 – 24 2018
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France says Trade War Already Started and Europe United
Despite world wide investor apathy the Trade War iniiated by U.S. President Trump is quickly escalating. French Finance Minister Bruno Le Maire on Sunday said “he question is no longer whether or not there will be a trade war, the war has already started”.
Market Weekly: July 9 – 16 2018
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General Motors Warns Tariffs Will Lead to Smaller GM and Less Jobs
General Motors filed on Friday with the U.S. Commerce Department warning that the expansive U.S. tariffs on imported vehicles being considered by the Trump administration will damage $GM, U.S. jobs and American global presence.
Canadian and Mexico Currencies Rise on NAFTA Hopes
Reports that the White House at next week’s summit of the Americas in Peru wants to present a preliminary NAFTA agreement saw the CAD and MXN rise against the dollar yesterday on the more conciliatory tone of the US.