Washington’s decision to impose visa bans on Chinese officials combined with adding further Chinese companies to a US-trade blacklist, has weighed on the slim hopes that both economies would potentially reach a truce at upcoming negotiations.
Global shares fell today after weaker-than-expected economic surveys fuelled investor concerns over the escalating US-China trade war and its effects on the world economy.
Asian and Australian shares dived on Monday amid a new bout of the US-China slugfest that has been dominating the markets in recent months.
The pound has managed to recover today after it plunged to a 10-year low against the euro, reaching €1.0724.
As fears circling the US-China trade conflict escalated, the demand for safe-haven currencies began to surface, resulting in a slight rise for the yen today.
Walt Disney (DIS) stock fell in after-hours trading yesterday, while quarterly results were hammered by a decline in theme-park attendance, spend on new streaming services, declines in viewership at its networks, in addition to an unsuccessful movie, which was inherited as part of the $71 billion acquisition of Fox assets.
While iPhone sales dipped, the company managed to generate most of its revenue through its wearables businesses and offered a better-than-expected outlook for the next quarter.
The strength of online advertising is proving once again its power in driving profits through the roof at Alphabet, the parent company of Google, which demonstrated better-than-expected financial results for the second quarter of the year.
Things are looking a little bit iffy for Vodafone (VOD), right now. It’s not been the best of Julys for the telecom big-boy. Share price has hit a little bit of a slump of late and, as a result, its top executives have agreed to slash their (probably eye-watering) share bonuses by a fifth, are under pressure and facing a potential investor revolt.
Investors and buyers of Netflix stock will be biting their nails this morning, while sellers of the same stocks will be punching the air, as the streaming giant says subscribers will fall 8% in Q2, citing rising competition and higher content costs.