Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

April 6, 2017

Trump meets Xi; Wild swings in markets; Mexican beer

By CNNMoney

1. Trump meets Xi: It's showdown time. President Trump meets Chinese President Xi Jinping on Thursday.

Trump was a vocal critic of China during his election campaign and has continued to attack the world's second biggest economy since his inauguration. He's predicted tough talks at the two-day summit in Mar-a-Lago.

China could be a major partner or a big obstacle to Trump's goals of revamping U.S. trade and restraining the belligerent regime in North Korea.

2. Markets reversal: U.S. stocks went on a wild roller coaster ride Thursday.

The Dow soared almost 200 points, or 1%, after strong private sector jobs data. But markets plunged back down after minutes from the Federal Reserve showed that some members of the central bank felt stocks were "quite high."

The minutes from the March meeting also revealed that the Fed is planning to start slashing the central bank's massive balance sheet later this year, tightening monetary policy.

The Dow Jones industrial average closed down 0.2% on Wednesday, while the Nasdaq was down 0.6%. The S&P 500 closed 0.3% lower.

3. Global market overview: U.S. stock futures were lower early Thursday. European markets opened lower Thursday, following a negative session in Asia.

Gold gained 0.7% overnight, as investors fled to safety.

Bed Bath & Beyond was up premarket Thursday after the company reported stronger than expected results.

United Rentals was down after announcing it completed the previously announced $965 million takeover of NES Rentals Holdings II.

4. Earnings and economics: Constellation Brands, the distributor of Corona, Modelo and other beer brands, will post earnings before the open.

Look for signs that the largest imported beer company in the U.S. is concerned about Trump's aggressive stance towards Mexico or proposals for a border adjustment tax.

CarMax and Fred's plan to release earnings before the open, while WD-40 is set to release earnings after the close.

The Department of Labor plans to release its Initial Claims report for April 1 at 8:30 a.m. ET.

The European Central Bank will release its March minutes later Thursday. Speaking ahead of the release, the bank's president Mario Draghi said he thinks the bank's current policy is working.

5. Coming this week: Thursday - Chinese President Xi Jinping visits President Trump at his Mar-a-Lago golf club. Friday - U.S. Bureau of Labor Statistics releases monthly jobs report for March.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF