Trade war fears; Danske Bank in trouble; Brexit talks

1. Trade war developments: Global markets appear largely unfazed by the latest escalation i...

Posted: Sep 19, 2018 11:11 AM
Updated: Sep 19, 2018 11:11 AM

1. Trade war developments: Global markets appear largely unfazed by the latest escalation in the trade war between the United States and China.

The Trump administration announced Tuesday it will hit $200 billion worth of Chinese goods with new tariffs. China immediately retaliated, saying it will impose tariffs on US goods worth $60 billion.

Chinese Premier Li Keqiang calmed the waters on Wednesday, announcing China "will never go down the path of stimulating exports by devaluing its currency." Investors were worried China might start fighting the trade war through the yuan.

US stock futures were flat on Wednesday. European markets opened higher. Asian markets were mixed, but stocks in China and Hong Kong ended the session higher.

The Dow Jones industrial average gained 0.7% on Tuesday, while the S&P 500 added 0.5%. The Nasdaq advanced 0.8%.

Watch CNNMoney's 'Markets Now' at 12:45 p.m. ET

2. Danske Bank in trouble: Shares in Denmark's largest bank dropped over 5% after an internal investigation uncovered a large number of suspicious accounts and transactions at its branch in Estonia.

CEO Thomas Borgen said he will step down once a replacement is found.

Danske Bank said the investigation into potential money laundering had found "a large number of non-resident customers in Estonia that we should have never had."

3. Brexit talks: EU leaders are gathering in Salzburg for an informal summit that could produce a breakthrough in deadlocked Brexit negotiations.

British Prime Minister Theresa May will make a pitch to her fellow European leaders for a continued close relationship between the United Kingdom and the European Union. Businesses are increasingly worried about the possibility of the United Kingdom dropping out of the union without a deal.

The issue of the border between Norther Ireland and Ireland will be high on the agenda — both sides have said they want to avoid the return of a hard border.

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4. Companies and economics: Herman Miller will release earnings after the US close.

The US Census Bureau will publish its August housing starts report at 8:30 a.m. ET.

Nintendo stock gained 2.4% in Tokyo after the company launched a new paid membership service, Nintendo Switch Online.

Shares in Sony advanced 0.5% after the company announced it would release a miniaturized version of its PlayStation Classic in December.

British developer and home improvement company Kingfisher reported a 15% drop in profits in the first half of the year. It attributed the loss to a poor performance in France.

The Bank of Japan left interest rates unchanged on Wednesday, in line with expectations.

UK inflation rose unexpectedly in August to 2.7%, from 2.5% in July. Economists had expected the rate to drop to 2.4%.

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5. Coming this week:
Thursday — Darden Restaurants and Micron Technology earnings
Friday — S&P reclassification; new iPhones and Apple Watch hit stores

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 594427

Reported Deaths: 7389
CountyCasesDeaths
Hennepin1229681733
Ramsey51530876
Dakota46037452
Anoka41844440
Washington26983283
Stearns22293222
St. Louis17814305
Scott17324126
Wright16121140
Olmsted1326598
Sherburne1175388
Carver1051245
Clay816792
Rice8075108
Blue Earth751941
Crow Wing666990
Kandiyohi657383
Chisago603251
Otter Tail575878
Benton572397
Goodhue478772
Douglas468576
Mower466732
Winona455150
Itasca440556
McLeod425459
Isanti424864
Morrison419860
Nobles408148
Beltrami397859
Steele389315
Polk384968
Becker381153
Lyon361251
Carlton346054
Freeborn342129
Pine329122
Nicollet326443
Brown305840
Mille Lacs305353
Le Sueur293123
Todd282832
Cass274628
Meeker257340
Waseca236522
Martin230932
Roseau209419
Wabasha20643
Hubbard190241
Dodge18543
Renville180543
Redwood174537
Houston172016
Cottonwood165823
Fillmore156710
Wadena156122
Pennington153719
Faribault152619
Chippewa152438
Kanabec145126
Sibley143910
Aitkin135336
Watonwan13329
Rock128419
Jackson121812
Pipestone116026
Yellow Medicine114220
Pope11096
Murray10639
Swift105818
Stevens91511
Marshall88117
Clearwater87016
Koochiching84315
Wilkin81612
Lake81120
Lac qui Parle75322
Big Stone6004
Lincoln5813
Grant5788
Mahnomen5539
Norman5409
Unassigned49593
Kittson48622
Red Lake3987
Traverse3705
Lake of the Woods3273
Cook1660

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 367374

Reported Deaths: 5946
CountyCasesDeaths
Polk57696628
Linn20903335
Scott20071242
Black Hawk15825308
Woodbury15141228
Johnson1449883
Dubuque13382209
Dallas1118698
Pottawattamie11140168
Story1062848
Warren577889
Clinton556193
Cerro Gordo541289
Sioux514574
Webster512293
Marshall483275
Muscatine4812100
Des Moines458966
Wapello4305122
Buena Vista424940
Jasper419472
Plymouth401280
Lee376255
Marion363175
Jones299157
Henry292037
Carroll286052
Bremer284960
Crawford266240
Boone265134
Benton256655
Washington253950
Dickinson248543
Mahaska230451
Jackson222142
Clay215725
Kossuth215564
Tama209871
Delaware209741
Winneshiek196935
Page192722
Buchanan191532
Cedar190123
Hardin185743
Fayette185241
Wright184637
Hamilton180249
Harrison179673
Clayton169756
Butler165034
Madison162519
Mills162422
Floyd161142
Cherokee159038
Lyon158241
Poweshiek154934
Allamakee151451
Iowa148924
Hancock148434
Winnebago142631
Cass138654
Calhoun138413
Grundy136433
Emmet134240
Jefferson132735
Shelby130937
Sac130519
Union128333
Louisa128149
Appanoose128049
Mitchell126442
Chickasaw124116
Guthrie121530
Franklin120821
Humboldt119126
Palo Alto112823
Howard104622
Montgomery103338
Clarke100224
Unassigned9720
Keokuk95931
Monroe95229
Ida90635
Adair86532
Pocahontas85522
Davis83524
Monona82730
Osceola78816
Greene77710
Lucas77223
Worth7498
Taylor66012
Fremont6229
Decatur6089
Van Buren55918
Ringgold55824
Wayne53923
Audubon50910
Adams3384
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