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.

Confirmed Cases: 37624

Reported Deaths: 1503
CountyConfirmedDeaths
Hennepin12150785
Ramsey4805226
Stearns234519
Dakota228690
Anoka2180107
Nobles16626
Olmsted110115
Washington106940
Mower9452
Rice8357
Scott7004
Clay58538
Kandiyohi5701
Wright4565
Blue Earth4532
Todd4002
Carver3641
Lyon3092
Sherburne3075
Freeborn2900
Steele2281
Watonwan2160
Benton2143
St. Louis17715
Martin1635
Nicollet15912
Cottonwood1340
Goodhue1298
Winona12215
Crow Wing10612
Pine1030
Le Sueur981
Chisago971
Otter Tail931
McLeod880
Carlton850
Dodge840
Polk812
Chippewa781
Unassigned7637
Isanti720
Itasca6412
Waseca640
Douglas620
Meeker611
Morrison591
Murray580
Becker550
Faribault550
Jackson550
Sibley542
Pennington500
Pipestone371
Mille Lacs342
Renville322
Wabasha310
Brown302
Rock300
Yellow Medicine300
Beltrami290
Fillmore280
Houston250
Swift211
Norman200
Wilkin203
Redwood180
Cass152
Wadena150
Aitkin140
Big Stone140
Kanabec141
Koochiching141
Roseau130
Marshall120
Grant100
Lincoln100
Pope100
Mahnomen81
Clearwater70
Hubbard60
Lake60
Traverse50
Lac qui Parle40
Stevens40
Red Lake30
Kittson20
Cook10
Lake of the Woods00

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 30975

Reported Deaths: 720
CountyConfirmedDeaths
Polk6464179
Woodbury321544
Black Hawk225258
Buena Vista171111
Johnson12648
Dallas126329
Linn126282
Marshall104319
Scott77810
Story7623
Pottawattamie72111
Wapello70630
Dubuque68322
Crawford6772
Muscatine62944
Sioux4630
Tama46229
Wright3801
Louisa36013
Jasper32317
Plymouth3165
Warren2731
Dickinson2642
Washington2369
Webster2132
Hamilton1871
Cerro Gordo1561
Boone1481
Clay1330
Clarke1312
Allamakee1284
Mahaska11517
Shelby1140
Clinton1071
Poweshiek1048
Carroll961
Pocahontas941
Bremer926
Franklin890
Des Moines882
Henry863
Emmet850
Cedar821
Taylor790
Monona760
Cherokee751
Floyd722
Hardin700
Marion700
Guthrie664
Benton651
Sac630
Jefferson590
Osceola590
Jones560
Humboldt541
Butler532
Harrison530
Lee532
Hancock510
Iowa510
Buchanan501
Monroe506
Calhoun492
Delaware491
Fayette480
Madison452
Clayton433
Lyon410
Palo Alto410
Davis391
Winneshiek380
Grundy370
Mitchell370
Mills360
Howard350
Kossuth340
Lucas304
Greene290
Jackson290
Chickasaw280
Winnebago280
Union270
Ida230
Cass220
Appanoose203
Keokuk201
Page200
Van Buren200
Worth190
Audubon161
Unassigned160
Adair150
Ringgold150
Decatur110
Montgomery102
Wayne100
Adams80
Fremont70
Rochester
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