Friday 25 October 2019

Daily Investor Update: Global stocks climb on trade talk, earnings news; sterling slips

Reuters.com Newsletter

Global stocks climb on trade talk, earnings news; sterling slips

Global stock indexes were higher on Friday after upbeat news on the trade front and strong results from companies including Intel , while the British pound extended losses from the previous day amid fresh uncertainty around Britain's exit from the European Union.

S&P 500 approaches record high on U.S.-China trade progress

The S&P 500 rose on Friday, briefly surpassing its record closing high, after Washington said it was close to finalizing parts of a trade pact with Beijing.

U.S., China 'close to finalizing' parts of Phase 1 trade pact: USTR

U.S. and Chinese trade officials are "close to finalizing" some parts of an agreement after high-level telephone discussions on Friday, the U.S. Trade Representative's office said, adding that deputy-level talks would proceed "continuously."

U.S. denies China's claim of 'weaponizing' visa decisions for Washington space meeting

The United States on Friday rejected Chinese accusations that political motives were behind a top Beijing space official not receiving a visa in time to attend the start of an international conference in Washington this week.

U.S. government's annual budget deficit largest since 2012

The U.S. government ended fiscal year 2019 with the largest budget deficit in seven years as gains in tax receipts were offset by higher spending and growing debt service payments, the Treasury department said on Friday.

Brazilian beverage distributors file antitrust complaint against Ambev

Beverage distributors working for Brazilian brewer Ambev SA have filed a complaint against the company at the local antitrust regulator Cade, accusing it of anticompetitive practices.

Oil prices clock strong weekly gains on trade hopes, crude supply

Oil prices rose on Friday, registering the strongest weekly gains in more than a month as support from optimism over a U.S.-China trade deal, falling U.S. crude stocks and possible action from OPEC to extend output cuts outweighed broader economic concerns.

White House adviser Navarro fighting 'Phase One' of U.S.-China trade dealL CNBC

White House trade adviser Peter Navarro is fighting "Phase One" of the China trade deal announced by U.S. President Donald Trump on Oct. 11, CNBC reported on Friday, citing sources.

Tesla starts selling China-made Model 3 with autopilot function

U.S. electric vehicle maker Tesla on Friday started selling its China-made Model 3 with an autopilot function priced from 355,800 yuan ($50,310), making it the company's cheapest model on sale in the country, the official website showed.

United Airlines says in talks with Apple on San Francisco airport upgrade

United Airlines is in early discussions with Apple Inc about upgrading the U.S. carrier's terminal at San Francisco International airport, United's Chief Digital Officer Linda Jojo told journalists on Friday without providing more details.

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