Tariff fallout; China's oil trade; Remington bankruptcy

1. Trade war fears: Wall Street is bracing for more fallout from President Donald Trump's tariff ann...

Posted: Mar 26, 2018 1:23 PM
Updated: Mar 26, 2018 1:23 PM

1. Trade war fears: Wall Street is bracing for more fallout from President Donald Trump's tariff announcements.

US Treasury Secretary Steve Mnuchin calmed nerves a little on Sunday, telling Fox News that he was "cautiously hopeful" the United States and China could reach an agreement that would avert the tariffs.

"As President Trump said, we're not afraid of a trade war, but that's not our objective," he said.

Trump said Thursday that he would impose tariffs on about $50 billion worth of Chinese imports after accusing the world's second biggest economy of stealing US intellectual property.

On Friday, Trump's global tariffs on steel and aluminum, which also include China, went into effect. China has announced its own tariffs on $3 billion worth of US imports.

2. Shanghai oil trading: The Shanghai International Energy Exchange launched crude oil futures trading on Monday. It's the first time oil futures will be traded in Asia, with prices settled in Chinese yuan.

Data from Wood Mackenzie show China surpassed the United States to become the world's largest importer of crude in 2017. Its import requirements are expected to grow by more than any other country over the next five years.

"China would want to play a more active role in influencing the price of crude oil," said Sushant Gupta, Wood Mackenzie's research director.

3. Global market overview: US stock futures were pointing up.

Markets in Europe and Asia were mostly higher following heavy losses at the end of last week.

The Dow Jones industrial average closed 1.8% lower on Friday, dropping to its lowest point since November. The S&P 500 shed 2.1% and the Nasdaq declined 2.4%.

US crude futures were 0.8% lower on Monday.

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4. Earnings and economics: Uber is selling its business in Southeast Asia to local rival Grab, the companies said in a statement Monday. Uber had already admitted defeat in China and Russia.

British retailer JD Sports Fashion has announced a deal to buy Finish Line for $558 million. Shares in JD Sports Fashion were trading 3.5% higher in London.

Remington Outdoor Brands, one of the oldest and best-known gun makers in the world, filed for bankruptcy on Sunday. The move allows Remington to stay in business while restructuring its massive debt.

The French statistics agency said the country's economy grew by 0.7% in the fourth quarter. GDP growth for 2107 was 2%.

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5. Coming this week:
Tuesday - Lululemon earnings; US consumer confidence
Wednesday - Blackberry, Gamestop and Walgreens Boots Alliance earnings; US fourth-quarter GDP final look
Thursday - Constellation Brands earnings; UK fourth-quarter GDP final look; US personal spending and consumer sentiment
Friday - US markets closed for Good Friday

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 61839

Reported Deaths: 1707
CountyConfirmedDeaths
Hennepin19569839
Ramsey7717268
Dakota4507106
Anoka3752115
Stearns290920
Washington216345
Nobles17686
Olmsted176723
Scott159020
Mower11052
Rice10388
Blue Earth9325
Wright8975
Carver8783
Clay78840
Sherburne7328
Kandiyohi7021
St. Louis57319
Todd4292
Lyon4253
Freeborn3601
Steele3512
Nicollet34713
Watonwan3230
Benton3203
Winona26416
Beltrami2440
Crow Wing23814
Le Sueur2261
Martin2095
Chisago2041
McLeod2020
Goodhue1999
Otter Tail1983
Cottonwood1780
Becker1611
Pipestone1589
Polk1554
Waseca1490
Itasca14612
Douglas1441
Carlton1420
Unassigned13141
Dodge1290
Isanti1290
Pine1290
Murray1241
Chippewa1071
Morrison931
Wabasha930
Brown892
Faribault890
Meeker872
Rock850
Sibley842
Koochiching793
Jackson790
Pennington751
Cass742
Mille Lacs723
Fillmore670
Renville665
Lincoln580
Grant563
Swift551
Yellow Medicine520
Roseau520
Pope480
Houston420
Aitkin411
Norman400
Kanabec371
Redwood360
Hubbard350
Wilkin343
Marshall290
Wadena270
Mahnomen271
Red Lake240
Big Stone220
Lake210
Stevens180
Clearwater140
Traverse110
Lac qui Parle80
Cook50
Lake of the Woods40
Kittson30

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 49380

Reported Deaths: 942
CountyConfirmedDeaths
Polk10444208
Woodbury373452
Black Hawk315766
Linn242888
Johnson211819
Dallas189835
Buena Vista179412
Scott174314
Dubuque169831
Marshall145026
Pottawattamie133228
Story117315
Wapello90533
Muscatine85148
Webster8268
Crawford7313
Sioux6433
Cerro Gordo63417
Warren5721
Tama55429
Jasper48127
Wright4751
Plymouth47011
Clinton4164
Dickinson3844
Louisa37814
Washington30510
Boone2623
Hamilton2511
Franklin24512
Bremer2307
Clarke2043
Clay2011
Carroll1942
Emmet1934
Des Moines1872
Shelby1861
Hardin1840
Marion1750
Poweshiek1608
Benton1601
Floyd1582
Allamakee1564
Jackson1561
Mahaska14217
Guthrie1355
Cedar1341
Jones1332
Buchanan1291
Henry1274
Madison1252
Butler1252
Hancock1212
Lee1183
Humboldt1181
Pocahontas1172
Delaware1171
Lyon1152
Harrison1101
Cherokee1101
Clayton1063
Taylor1000
Winneshiek971
Iowa971
Page950
Monona910
Kossuth900
Mills890
Palo Alto880
Jefferson870
Calhoun862
Winnebago860
Sac860
Fayette850
Osceola840
Grundy801
Mitchell790
Cass791
Union781
Monroe748
Lucas734
Worth670
Davis612
Montgomery604
Chickasaw550
Appanoose513
Howard500
Fremont430
Greene430
Keokuk371
Van Buren361
Ida310
Adair300
Audubon291
Decatur250
Ringgold231
Wayne201
Adams160
Unassigned10
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