China's export stop; Apple supplier hit; Detroit Auto Show

The value of goods shipped from China to the rest of the world fell by more than 4% in December, compared to the same period a year ago, Chinese government data released on Monday.

It represents the worst monthly performance for China's export sector for more than two years. Economists asked after Reuters had expected exports from China to increase somewhat in December.

Despite last month's folly, China rallied for another year in a record trade surplus with the US in 2018, according to Chinese data. The $ 323 billion gap in value between how much China sells to the United States and how much it buys from it has been at the center of the trade dispute between the two countries. President Donald Trump has previously said that trading with China is unfair.

The United States had an even greater estimate for this gap, with the latest figures from the Parliamentary Bureau showing a trade deficit of $ 345 billion with China in 201[ads1]8.

2. Apple's rotten: The European Apple Provider Dialog Semiconductor (DLGNF) warns Monday that sales in the fourth quarter will be below the base of the October release.
It's the last sign that weak iPhone sales in China have an effect on Apple (AAPL) vendors who rely on tech giant for orders.

Earlier this month, Apple warned that it would miss sales quarters for the last quarter of 2018 by at least $ 5 billion, due to lower-than-expected sales in the world's second largest economy.

Dialog Semiconductor shares listed in Frankfurt increased 2.8% despite the warning.

3. Detroit Auto Show: The United States' prominent motor show starts Monday in Detroit, and a number of hot cars are expected to debut.

The biggest news news can come on Tuesday, but when Ford (F) and Volkswagen (VLKAF) are expected to formalize their expected partnership.

Ford is planning to spend $ 11 billion on new technology and transform its focus into the company over the next three to five years. Finding someone who shares these costs will be crucial to success.

4. Global market overview: US equity futures pointed lower.
The European markets were opened after a negative trading session in Asia.
Dow was flat on Friday and finished his five-day winning knit. S & P 500 was slightly changed and Nasdaq closed 0.2% lower.
Before the Bell Newsletter: Key Market News. In your inbox Subscribe now!
5. Earnings and finances: Citigroup (C) will release earnings before the opening. It is the first major US bank to report this earnings period.

US working hours statistics will publish their producer price inflation reports on December 8 at ET.

6. Upcoming This Week:
Monday –
Citigroup Earnings
– JPMorgan, Wells Fargo, Delta and United Earnings
– Goldman Sachs, Bank of America and BlackRock (BLK) earnings
– American Express (AXP) and Netflix (NFLX) report earnings

Source link

Back to top button