Dow is set to drop, 10-year yield goes back under 1.7%, Goldman Sachs lowers growth forecast, Hong Kong protests escalate, and BlackRock buys a major stake in Sports Illustrated's owner.
by 0.2% to 1.8%, with the cumulative drag on U.S. gross domestic product of 0.6%. Goldman also expects the planned U.S. tariffs on the rest of China's imports to go into effect next month, and it no longer sees a trade deal before the 2020 election.Protesters occupy the departure hall of the Hong Kong International Airport during a demonstration on August 12, 2019 in Hong Kong, China.
The increasingly violent protests in Hong Kong against the Chinese government are plunging the Asian financial hub into its most serious crisis in decades. Hong Kong International Airport, one of the world's busiest,all departures for the remainder of the day, citing serious disruption due to anti-government demonstrations. The protests, which began in June in opposition to a bill allowing extradition to mainland China, have morphed into a democracy movement.
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Dow futures higher after China fixes yuan at stronger-than-expected levelMarket focus is largely attuned to simmering trade tensions between the world's two largest economies.
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What to watch today: Dow to fall, Epstein dies by suicide, and Hong Kong flights canceledWorries about the ongoing trade war and slowing global economic growth continue to weigh on investor sentiment, with futures pointing to a lower open as the new week begins.
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China fixes yuan midpoint at 7.0211 on Monday — weaker than 7 for three consecutive sessionsThe People's Bank of China set the official midpoint reference for the yuan at 7.0211 per dollar on Monday — weaker than the previous session.
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Start your Monday smart: What's happening this weekKashmir. Cosby appeal. Ex-White House counsel trial. Child abuse cases. Woodstock at 50. Premier League. Gymnastics and Pokemon championships. Here's what the next six days will bring.
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