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          TODAY ON WALL STREET: Trump raises tensions with China

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          05/15/2020 | 09:02am EDT

          U.S. stock index futures were down again today as Donald Trump implemented several measures against China, starting a new episode in the trade war between the two countries. Washington blocked shipments of semiconductors to China's Huawei Technologies from global chipmakers.

          POTUS even suggested that he could ties with China, arguing that they could have stopped the virus before. But many commentators believe that the president’s actions are guided by the desire to please its voting base ahead of the presidential elections.

          In an interview broadcast on Fox Business, the American President went so far as to think aloud about a pure and simple cancellation of the commercial pre-agreement signed with Beijing in response to the Covid-19.

          While it is far too early to judge the relevance of Donald Trump's strategy, it will have profound consequences for the world economy.

          Also adding to the bad mood, today, data showed retail sales dropped much further than expected in April, highlighting the deep economic impact of Covid-19. They fell 16.4% in April, which is worse than the March record.

          Today on the agenda, we have German Q1 GDP, the  euro zone GDP, and in the United States, retail sales and the Empire State Index, industrial production, the University of Michigan's consumer confidence index and the JOLTS study on job openings. Earlier today,, China reported worse-than-expected Retail Sales and unemployment over the past month, but also reported a sharp rebound in Industrial Production.

          Stocks mentioned in the article
          ChangeLast1st jan.
          BASE CO., LTD. 3.24% 4625 End-of-day quote.71.09%
          BASE, INC. -0.17% 5910 End-of-day quote.236.75%
          THE GLOBAL LTD. -2.27% 215 End-of-day quote.-54.35%
          WORLD CO., LTD. -1.33% 1409 End-of-day quote.-47.64%

          Romain Fournier
          ?MarketScreener.com 2020
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