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 U.S. stocks open modestly higher Friday, after the Dow notched its longest losing period in three months on Thursday, while President Xi Jinping says China wants to work toward a phase-one trade agreement on the "basis of mutual respect and equality."
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Hong Kong may be Asia's premier financial hub and a favorite for U.S. and European stock investors, but away from the big names such as Tencent Holdings Ltd. traders must negotiate unusual practices that might seem out of place for the world's biggest markets. Here is a list of issues that are worrying some investors and vexing regulators.
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(Bloomberg) -- Tesla Inc. slumped in pre-market trading after the electric carmaker's newly unveiled pickup truck elicited mixed response on Wall Street, with many analysts saying the "particularly futuristic" design may relegate it to niche vehicle status.While the $39,900 starting price was below what the Street expected, Cowen analyst Jeffrey Osborne said that lowest-priced variant may never see the light of day. However, the pickup truck's range and towing capacity were largely seen as "surprisingly strong."Tesla shares fell 4% before the opening bell.Here's a roundup of the analyst comments post-launch.Cowen, Jeffrey Osborne(Underperform, Price Target $190)"In a night to be remembered for the Armored Glass fail, Tesla's Cybertruck reveal will likely disappoint current pickup truck owners and we see the vehicle remaining a niche and not a mainstream product.""The Blade Runner inspired design appears to be the most controversial feature.""The base price of $39,900 is likely never to be seen, just as the $35k Model 3 has failed to materialize.""Tesla appears to have rushed its launch of the Cybertruck in our view as it did not even have side mirrors or windshield wipers."Evercore ISI, Arndt Ellinghorst(Underperform, PT $200)"Aside from the ‘armor glass' windows smashing, the truck's ‘artisanal' cyber styling and excessive specs will likely result in a niche product made exclusively for a very conspicuous variant of EV enthusiasts and is unlikely to seriously threaten/disrupt incumbent truck makers or may even fall short of broader pickup new entrants such as Rivian."Wedbush, Daniel Ives(neutral, PT $270)The truck's design looks "more like a stealth bomber than a pickup truck.""
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 U.S. stocks rose at the start of trade Friday, one day after both the Dow Jones Industrial Average and the S&P 500 index closed lower for the third-straight session amid anxiety about the state of U.S-China trade relations. The Dow rose 56 points, or 0.2% to 27,818, the S&P 500 gained 7 points, or 0.2% to 3,111 and the Nasdaq Composite index advanced 23 points, or 0.3% to 8,531. Chinese President Xi Jinping injected a degree of trade optimism in markets when he told a forum in Beijing that "We want to work for a Phase 1 agreement on the basis of mutual respect and equality." Reports this week, however, have provided conflicting narratives of the state of talks, with some suggesting that a deal won't be reached this year. In company news, Nordstrom shares rose 8% early Friday after the department-store chain issued better-than-expected earnings and shares of Tesla Inc. fell 4.4% following the disappointing reveal of its anticipated "Cybertruck" late Thursday.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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The J.M. Smucker Co. shares slid 2% in premarket trade Friday , after the distributor of Folgers and Cafe Bustelo brands missed sales estimates for its fiscal second quarter and lowered its full-year guidance. Orrville, Ohio-based Smucker said it had net income of $211.2 million, or $1.85 a share, in the quarter to Oct. 31, up from $188.5 million, or $1.66 a share, in the year-earlier period. Adjusted per-share earnings came to $2.26, ahead of the $1.97 FactSet consensus. Sales fell to $1.96 billion from $2.02 billion, below the $1.97 billion FactSet consensus. The sales decline was partly due to the sale of the company's U.S. baking business on Aug. 31. Chief Executive Mark Smucker acknowledged that the company's sales performance was below its expectations, but said cat food and pet snacks performed well, along with coffee brands. The company lowered its full-year guidance and said it now expects sales to fall 3%, compared with prior guidance of a decline of 1% to flat. It expects adjusted EPS to range from $8.10 to $8.30, down from prior guidance of $8.35 to $8.55. Shares have gained 11% in 2019, while the S&P 500 has gained 24%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Gold futures are higher Friday morning and headed for a second straight weekly gain, as weakness in Europe's economy and geopolitical unrest helps to buttress the haven commodity's price.
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Affordable mental-health coverage grows more difficult to access, according to a new study.
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The wager, assembled over a span of months and executed by a handful of Wall Street firms, including Goldman Sachs Group Inc. and Morgan Stanley, would pay off for the world's biggest hedge fund if either the S&P 500 and the Euro Stoxx 50 —or both—declines, some of the people said.
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The flash reading of the U.S. manufacturing purchasing mangers index rose to 52.2 in November, the highest level since April, according to IHS Markit on Friday.
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Most of the money would pay for repairs and upgrades to the nation's stock of federally subsidized housing.
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The flash reading of the IHS Markit/CIPS flash U.K. services purchasing managers index fell to a 40-month low in November of 48.6, from 50 in October. The manufacturing PMI meanwhile slipped to a two-month low of 48.3 versus 49.6 in October. "The weak survey data puts the economy on course for a 0.2% drop in GDP in the fourth quarter, and also pushes the PMI further into territory that would normally be associated with the Bank of England adding more stimulus to the economy," said Chris Williamson, chief business economist at IHS Markit. "While Brexit issues such as stock-building and car factory closures have led to volatile GDP data so far this year, making monetary policymaking especially difficult and encouraging the Bank of England to sit on its hands until the fog clears, the PMI surveys are not only warning that the underlying trend in the economy is deteriorating markedly, but also that the labour market is cooling."
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Volkswagen has been one of the strongest performing automakers in China this year, having launched eight locally produced SUVs since the last quarter of 2018.
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 Gap Inc said on Thursday it would not sell its Old Navy apparels in China from early 2020 and instead would focus on its North America market to boost sales.
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Eli Lilly & Co. said Wednesday that it will create 100 new jobs in Indianapolis as it invests $400 million in its manufacturing facilities at its Lilly Technology Center campus. The drug maker said its plans are a result of increased demand for its medicines and for the production of additional capacity for future medicines, and are helped by having more capital available as a result of tax reform. "These investments support our manufacturing capabilities in Indianapolis, including additional capacity and technology upgrades to our active ingredient, syringe filling, device assembly and packaging operations," said Myles O'Neill, president of manufacturing operations. "All of these projects support Lilly's investment in next generation manufacturing and feature high levels of automation, robotics, new technologies and advanced data analytics." The stock, which was still inactive in premarket trading, has slipped 0.5% year to date, while the SPDR Health Care Select Sector ETF has climbed 13.0% and the S&P 500 has advanced 24.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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