Trump criticizes Powell; Stocks steady; Kohl’s earnings


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1. Trump on the Fed: President Donald Trump has once more criticized Federal Reserve Chairman Jerome Powell over his dealing with of financial coverage.

In an interview with Reuters, Trump mentioned he’s “not thrilled” with Powell for elevating rates of interest, arguing the central financial institution ought to do extra to assist the US financial system.

“Markets haven’t notably preferred US President Trump’s feedback, seeing them as a risk to the independence of the central financial institution,” mentioned Paul Donovan, world chief economist at UBS Wealth Administration.

The feedback helped push the greenback decrease in opposition to a spread of world currencies. US authorities bond yields declined however have since stabilized.

US inventory futures have been holding regular on Tuesday.

2. Extra commerce talks: Traders are additionally waiting for commerce talks between the USA and China that kick off Wednesday in Washington.

The 2 sides are anticipated to debate their commerce relationship and escalating commerce conflict. The subsequent spherical of US tariffs on $16 billion of Chinese language items is scheduled to enter impact Thursday.

three. World inventory market overview: European markets have been little modified.

The temper in Asian markets was principally constructive, with Chinese language indexes posting beneficial properties. One prime performer was Geely Auto (GELYF) — the proprietor of Volvo — which noticed shares surge 7.5%.

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four. Earnings: Kohl’s (KSS), JM Smucker (SJM), Coty (COTY) and Toll Brothers (TOL) will launch earnings earlier than the open. La-Z-Boy (LZB) and City Outfitters (URBN) will comply with after the shut.

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5. Coming this week:

Tuesday JM Smucker (SJM), Toll Brothers (TOL) and Kohl’s (KSS) earnings
Wednesday Goal (TGT), Lowe’s (LOW) and L Manufacturers (LB) earnings
Thursday Alibaba (BABA), HP (HPQ), Ross Shops (ROST) and Hole (GPS) earnings, US tariffs on 279 Chinese language merchandise take impact
Friday Foot Locker (FL)earnings, Federal Reserve chairman Jerome Powell speaks on the Financial Coverage Symposium in Jackson Gap

CNNMoney (London) First printed August 21, 2018: 5:04 AM ET

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