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 Emerging market stocks touched a fresh
1-1/2-month high on Friday as hopes of a resolution to the
U.S-China trade dispute lifted investor sentiment, while
developing currencies were subdued as the U.S. dollar clung onto
recent gains.
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RELATED ARTICLES | | |
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European shares rose on Friday,
hitting their highest level since early December as renewed
hopes for trade negotiations between the United States and China
lifted markets from Wall Street to Beijing.
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RELATED ARTICLES | | |
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* Mnuchin reportedly discussed lifting tariffs on Chinese
imports
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U.S. officials are debating ratcheting back tariffs on Chinese imports as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies.
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European stocks opened higher Friday morning, after a report of progress in U.S.-China trade talks raised hopes of a breakthrough.
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 Electric-car maker Tesla Inc. will cut "approximately" 7% of its full-time workforce, said Chief Executive Officer Elon Musk in an update on the company's blog Friday that was emailed to all employees. Musk spoke of a "difficult" road ahead and said the company was targeting a small profit for the upcoming quarter. He said Tesla faces a tough challenge of "making our cars, batteries and solar products cost-competitive with fossil fuels," and that the company's products are "still too expensive for most people." He said the 4% profit the company made in the third quarter was due to sales of higher-priced Model 3 variants in North America. "In Q4, preliminary, unaudited results indicate that we again made a GAAP profit, but less than Q3," he said. "This quarter, as with Q3, shipment of higher-priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit." Musk said the company will "retain only the most critical temps and contractors," adding that the staffing changes will be made while boosting Model 3 production and "making many manufacturing engineering improvements in the coming months. Shares of Tesla dropped nearly 5% in thin, premarket trade.
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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* MSCI Asia-Pacific index up 0.55 pct, Nikkei hits 1-mth
high
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European shares opened higher on
Friday and reached their highest level since early December as
new-found hope about the Sino-U.S. trade negotiations lifted
stock markets from Wall Street to Asia.
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Apple Chief Executive Tim Cook said the U.S. Federal Trade Commission should form what he called a "data-broker clearinghouse."
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Johnson & Johnson's Janssen Pharmaceuticals Inc. is collaborating on a multi-year research study with Apple Inc. to look at improving outcomes for patients with atrial fibrillation, the companies announced Thursday. The study will investigate whether a heart health app by Johnson & Johnson, combined with Apple Watch's irregular rhythm notifications and ECG app, can accelerate diagnosis and improve outcomes for people with atrial fibrillation. Atrial fibrillation is a condition that affects 33 million people worldwide and can lead to blood clots, stroke and heart failure. The study will be based in the U.S., the companies said, and subjects will be individuals 65 years or older. Shares of Apple were down 0.5% in premarket trade Thursday and have fallen 1.8% in the year to date through Wednesday. Shares of Johnson & Johnson have fallen 0.8%, while the S&P 500 has gained 4.4% and the Dow Jones Industrial Average has gained 3.8%.
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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China is facing its most difficult economic environment in years. The world's second-biggest economy is in a trade standoff with the biggest -- the U.S. -- and under pressure from President Xi Jinping's "critical battles" to reduce China's massive debt pile and clean up toxic air pollution. Economists forecast 6.2 percent growth this year, more than twice the global rate. But that's down from about 6.6 percent in 2018, already the slowest in almost three decades. When China sneezes these days, m
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