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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.

Cases: 488170

Reported Deaths: 6602
CountyCasesDeaths
Hennepin1012851589
Ramsey43273808
Dakota36543394
Anoka33430390
Washington22183261
Stearns18786202
St. Louis14866265
Scott13381107
Wright12580116
Olmsted1184890
Sherburne877174
Carver783241
Clay694587
Rice672291
Blue Earth599635
Kandiyohi580674
Crow Wing522782
Chisago501045
Otter Tail485570
Benton449290
Winona420049
Mower410031
Douglas393768
Goodhue388069
Nobles387147
Polk344663
McLeod340550
Beltrami338751
Morrison326247
Itasca314246
Becker313942
Lyon313844
Isanti308256
Steele303011
Carlton300249
Freeborn285824
Pine282616
Nicollet261541
Todd249230
Brown247237
Le Sueur237420
Mille Lacs229047
Cass221024
Waseca210117
Meeker208134
Martin190629
Wabasha18713
Roseau180917
Hubbard160741
Houston158114
Dodge15384
Renville151640
Redwood147127
Fillmore13908
Pennington137716
Chippewa136835
Cottonwood135920
Wadena131320
Faribault124517
Aitkin119233
Watonwan11798
Sibley117610
Rock116114
Kanabec108119
Pipestone101824
Yellow Medicine97717
Murray9538
Jackson94210
Swift87818
Pope8095
Marshall78415
Stevens7468
Lake74218
Clearwater71914
Lac qui Parle68616
Wilkin67711
Koochiching62111
Big Stone5163
Lincoln5122
Grant4918
Norman4788
Unassigned44768
Mahnomen4437
Kittson40921
Red Lake3615
Traverse3105
Lake of the Woods2221
Cook1180

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 336947

Reported Deaths: 5491
CountyCasesDeaths
Polk51993559
Linn19497317
Scott17149212
Black Hawk14956293
Woodbury13828214
Johnson1314875
Dubuque12444195
Dallas1021893
Pottawattamie9877146
Story963545
Warren514076
Clinton502184
Cerro Gordo500683
Webster495588
Sioux479869
Marshall464273
Des Moines427961
Muscatine425693
Buena Vista412637
Wapello4042110
Jasper387267
Plymouth368578
Lee354453
Marion341171
Jones285055
Henry279837
Bremer270255
Carroll266649
Crawford253535
Boone244030
Benton240854
Washington239247
Mahaska215746
Jackson209939
Dickinson204140
Tama202865
Kossuth198655
Delaware186140
Clay184425
Winneshiek183228
Fayette179235
Page177919
Buchanan177829
Wright174231
Hamilton173842
Cedar172723
Hardin169839
Harrison167670
Clayton160154
Butler159231
Mills148420
Floyd148141
Poweshiek148030
Cherokee146236
Lyon145541
Allamakee144148
Madison143018
Iowa140323
Hancock138030
Grundy132230
Winnebago130531
Calhoun129411
Cass129251
Jefferson128634
Appanoose123347
Louisa122444
Mitchell120540
Chickasaw119915
Union119131
Sac118718
Shelby117433
Emmet115440
Humboldt113725
Guthrie109628
Franklin109219
Palo Alto101321
Howard99522
Montgomery96936
Clarke95020
Keokuk92529
Monroe89828
Adair81529
Ida81532
Pocahontas80919
Davis76523
Monona76427
Greene73110
Lucas72121
Osceola68315
Worth6678
Unassigned6590
Taylor64112
Decatur5699
Fremont5599
Van Buren53718
Ringgold50620
Audubon4769
Wayne47121
Adams3184
Rochester/St. Mary'S
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Mason City
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Feels Like: 28°
Albert Lea
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Hi: 47° Lo: 27°
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Austin
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Hi: 47° Lo: 26°
Feels Like: 29°
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