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.

Cases: 603614

Reported Deaths: 7596
CountyCasesDeaths
Hennepin1247361769
Ramsey52421894
Dakota46758467
Anoka42679457
Washington27383290
Stearns22542224
St. Louis18112311
Scott17532133
Wright16399148
Olmsted13385102
Sherburne1198694
Carver1065648
Clay825492
Rice8181110
Blue Earth761943
Crow Wing681094
Kandiyohi666785
Chisago618552
Otter Tail585484
Benton582698
Goodhue483373
Douglas475080
Mower470733
Winona460851
Itasca458262
Isanti439564
McLeod428961
Morrison424461
Nobles408150
Beltrami407060
Steele397516
Polk388772
Becker386555
Lyon363953
Carlton352456
Freeborn346832
Pine335023
Nicollet330945
Mille Lacs311554
Brown307940
Le Sueur297025
Todd285532
Cass285432
Meeker263042
Waseca237723
Martin234932
Roseau210721
Wabasha20783
Hubbard195941
Dodge18763
Renville182446
Redwood176338
Houston174016
Cottonwood167224
Wadena162322
Fillmore157410
Faribault154219
Chippewa153938
Pennington153820
Kanabec146828
Sibley146810
Aitkin138437
Watonwan13569
Rock128719
Jackson122612
Pipestone116526
Yellow Medicine114920
Pope11296
Murray107010
Swift106918
Koochiching94617
Stevens92411
Clearwater89016
Marshall88617
Wilkin83112
Lake82820
Lac qui Parle75622
Big Stone6034
Grant5938
Lincoln5843
Mahnomen5669
Norman5479
Kittson49022
Unassigned48193
Red Lake4017
Traverse3755
Lake of the Woods3453
Cook1720

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 370526

Reported Deaths: 6038
CountyCasesDeaths
Polk58181638
Linn21174339
Scott20284245
Black Hawk16057312
Woodbury15228230
Johnson1460485
Dubuque13495211
Dallas1128199
Pottawattamie11213173
Story1070548
Warren583191
Clinton561393
Cerro Gordo552493
Sioux516874
Webster514594
Muscatine4876106
Marshall486276
Des Moines466870
Wapello4334122
Buena Vista426040
Jasper420672
Plymouth402881
Lee381356
Marion365976
Jones300857
Henry294037
Bremer287760
Carroll286752
Boone268334
Crawford267840
Benton258555
Washington257151
Dickinson249344
Mahaska232251
Jackson225242
Clay216527
Kossuth216266
Tama211671
Delaware210942
Winneshiek197835
Page194522
Buchanan193033
Cedar192023
Hardin187344
Fayette186443
Wright185740
Hamilton181751
Harrison179973
Clayton171057
Butler165935
Madison164519
Mills163324
Floyd162842
Cherokee159338
Lyon158841
Poweshiek156936
Allamakee152552
Hancock150034
Iowa149824
Winnebago144331
Cass139254
Calhoun138813
Grundy137133
Emmet135841
Jefferson133535
Shelby131437
Sac130820
Union129935
Louisa129749
Appanoose129049
Mitchell126643
Chickasaw124517
Franklin123323
Guthrie122932
Humboldt119526
Palo Alto113623
Howard105022
Montgomery103638
Clarke100924
Keokuk96332
Monroe96230
Unassigned9530
Ida91635
Adair87332
Pocahontas85822
Davis85225
Monona82931
Osceola79016
Greene78011
Lucas77923
Worth7598
Taylor66712
Fremont6269
Decatur6159
Ringgold56324
Van Buren56318
Wayne54423
Audubon52810
Adams3444
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