Movers & Shakers: Aug 29., 2019
Diversified Private Wealth Advisors Dominick Tavella on U.S. trade tensions with China, the protests in Hong Kong and the U.S. economic outlook.
China won’t retaliate for Trump’s latest trade-war escalation. China is looking to restore calm in the trade war, and won’t immediately retaliate when the U.S. raises tariffs on Sept. 1. Stock futures are pointing to a stronger open following the news.
The inverted yield curve isn’t a “harbinger of doom” this time around. The yield curve inverted earlier this month, sounding the alarm on a possible U.S. recession, but this time may be different because the large amount of negative yielding debt around the world is causing investors to buy longer-dated U.S. Treasurys in droves, according to some market watchers. “I think that artificially depresses the yield curve and that the probability of recession is higher than it would otherwise appear,” Keith Fitz-Gerald, chief investment strategist at the Baltimore-based Money Map Press, told FOX Business’ “Cavuto Coast to Coast.”
Hurricane Dorian is heading for Florida. Puerto Rico and the U.S. Virgin Islands were mostly spared from Hurricane Dorian’s destruction, but Florida might not be so lucky. The hurricane is projected make landfall in Central Florida as a Category 3 storm early next week. Airlines and cruise ships are waiving fees to make it easier for travelers to change their plans.
Tesla is getting into insurance. The electric automaker announced Wednesday that vehicle owners in California are able to purchase insurance through the company. The offer, which will give owners rates that are up to 20 percent lower than if they purchase insurance elsewhere, will be extended to additional U.S. states in the future.
Amazon had a “burn book” of negative H2Q comments from New York lawmakers. The e-commerce giant maintained a Microsoft Word document of negative comments made by New York lawmakers about its plans locate its H2Q in Long Island City, according to The Wall Street Journal. Amazon in February abandoned plans to build a New York headquarters, opting to forge ahead with just its facility in Northern Virginia.