Trump bashes TPP; Tesla's Model 3 ambitions; Starbucks shutdown

1. Trump bashes TPP: President Donald Trump has renewed his attack on a huge Pacifi...

Posted: Apr 18, 2018 12:23 PM
Updated: Apr 18, 2018 12:23 PM

1. Trump bashes TPP: President Donald Trump has renewed his attack on a huge Pacific trade pact just days after raising the possibility of the United States rejoining it.

Trump ditched the Trans-Pacific Partnership spanning the United States and 11 other countries shortly after coming into office. The remaining countries went ahead with a new deal without the United States.

Last week, Trump asked his top trade and economic advisers to investigate "whether or not a better deal could be negotiated," the White House said.

But Trump tweeted on Wednesday that he thought the TPP was a bad deal for the world's biggest economy.

"While Japan and South Korea would like us to go back into TPP, I don't like the deal for the United States," he tweeted.

2. Tesla model 3 ambitions: Shares in Tesla climbed higher in extended trading after automotive news website Electrek said the carmaker is aiming to ramp up production of the Model 3 to 6,000 per week by the end of June.

The report cited a letter to employees from Chief Executive Elon Musk.

Tesla temporarily suspended production of the Model 3 sedan on Monday to work out kinks in its assembly line. The announcement battered the stock, adding to worries about Tesla's ability to scale up.

3. Starbucks racial bias training: Starbucks will close its 8,000 company-owned stores in the United States on May 29 to educate employees about racial bias.

The announcement late Tuesday follows an uproar over the arrest of two black men who were waiting for a friend at a Philadelphia Starbucks last week. The store manager called the police.

The racial bias training will be provided to about 175,000 workers.

4. Global market overview: US stock futures were higher early on Wednesday, pointing to a third straight day of gains on Wall Street.

Major stock markets in Europe and Asia were also up.

The Dow Jones industrial average closed 0.9% higher on Tuesday, while the S&P 500 was 1.1% up.

The Nasdaq soared 1.7%, helped by a big jump in Netflix which surged 9% after blowout results.

Prices of aluminum jumped to the highest levels since 2011, after Reuters reported that Japanese traders have asked Russia's Rusal to stop shipping aluminum because of US sanctions.

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5. Earnings and economics: Morgan Stanley is set to report its earnings before the opening bell.

American Express and Alcoa will follow after the markets close.

Shares in British passport maker De La Rue dropped 6% in early London trade after the company issued a profit warning. De La Rue also said it would not appeal the UK government's decision to award a contract to print new passports to a French company instead.

US crude inventories data will be published at 10:30 a.m. ET. Oil prices have been volatile in recent days because of tension in the Middle East. US crude futures were 0.9% higher, trading at $67 per barrel.

The Federal Reserve will release its Beige Book economic report at 2 p.m. ET

The Bank of Canada's interest rate meeting is scheduled for 9 a.m. ET.

Latest inflation data from the UK showed prices rose 2.5% year on year in March, down from 2.7% in February. The pound dropped 0.7% against the dollar after the data was published.

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6. Coming this week:

Wednesday - Morgan Stanley, American Express earnings
Thursday - BNY Mellon earnings
Friday - State Street, Procter & Gamble, GE earnings

Correction: A previous version of this article incorrectly stated UK inflation was 2.8% in February. It was 2.7%.

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 91422

Reported Deaths: 2031
CountyConfirmedDeaths
Hennepin26147923
Ramsey10595318
Dakota7250125
Anoka5836132
Stearns383324
Washington362755
Scott247333
Olmsted232927
Nobles193816
Blue Earth16166
Wright15497
St. Louis141936
Carver13657
Rice13098
Mower13015
Clay128840
Sherburne110914
Kandiyohi9362
Winona85318
Lyon6554
Waseca5508
Freeborn5263
Steele5262
Benton5173
Nicollet51316
Watonwan5114
Todd4812
Chisago4621
McLeod4612
Le Sueur4464
Crow Wing44418
Otter Tail4024
Beltrami3805
Martin34310
Goodhue3409
Itasca28913
Pine2870
Polk2774
Isanti2680
Douglas2672
Becker2512
Carlton2461
Unassigned22052
Cottonwood2190
Pipestone21510
Morrison2131
Dodge2090
Chippewa1981
Meeker1872
Sibley1873
Brown1812
Wabasha1810
Yellow Medicine1622
Rock1590
Murray1552
Mille Lacs1523
Redwood1441
Jackson1361
Renville1367
Cass1343
Faribault1330
Swift1231
Roseau1170
Houston1150
Kanabec1148
Pennington1131
Fillmore1100
Koochiching1103
Lincoln1030
Stevens931
Pope890
Hubbard851
Aitkin761
Big Stone710
Wadena670
Grant594
Wilkin573
Lake560
Norman520
Marshall501
Lac qui Parle471
Mahnomen461
Red Lake381
Traverse300
Clearwater260
Lake of the Woods211
Kittson120
Cook60

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 81296

Reported Deaths: 1284
CountyConfirmedDeaths
Polk15404259
Woodbury506463
Johnson502827
Black Hawk439688
Linn3832108
Story334017
Dubuque289141
Scott283528
Dallas270038
Pottawattamie200638
Buena Vista195512
Marshall176434
Sioux14163
Wapello128057
Webster120914
Clinton108020
Muscatine107854
Plymouth106220
Crawford10215
Cerro Gordo100721
Warren9396
Jasper78332
Des Moines7477
Marion7345
Tama69531
Carroll6445
Henry6314
Lee6097
Wright5651
Dickinson4876
Boone4808
Bremer4717
Washington44011
Louisa42615
Mahaska35819
Delaware3493
Franklin34418
Hamilton3173
Jackson3103
Floyd3063
Winneshiek3045
Clay3014
Benton2921
Hardin2851
Winnebago27813
Lyon2694
Butler2632
Clarke2613
Poweshiek2588
Buchanan2551
Emmet25310
Allamakee2516
Jones2513
Shelby2501
Clayton2383
Kossuth2370
Guthrie2315
Cedar2261
Chickasaw2250
Sac2220
Cherokee2122
Grundy2103
Madison2072
Fayette2032
Iowa1931
Harrison1892
Howard1836
Mitchell1830
Humboldt1773
Calhoun1762
Hancock1762
Mills1681
Palo Alto1650
Pocahontas1542
Lucas1536
Monroe15110
Monona1421
Page1420
Cass1392
Osceola1390
Jefferson1341
Appanoose1263
Taylor1251
Union1233
Davis1184
Van Buren1111
Ida1050
Worth1030
Keokuk951
Greene940
Fremont900
Montgomery905
Wayne842
Audubon701
Adair681
Decatur630
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Adams290
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