Stocks continue to tumble Thursday as investors worry over the threat of higher tariffs.
U.S. stocks extended their decline Thursday as trade tensions ramped up after U.S. President Donald Trump threatened tariff retaliation on China, which he claims “broke the deal”.
The Chinese delegation is at the airport and will take off soon. Some ask why bother to go to the US for talks given what had happened?This is also a question for the US side, why still bother to invite the Chinese delegation? I want to emphasize 'invitation'. What are analysts saying? Before Trump’s Sunday tweet, when greater tariffs were threatened, “our sources in Washington were anticipating a ‘weak’ deal with few genuine Chinese concessions,” wrote James Sweeney, chief economist for Credit Suisse, in a note to clients.
Which stocks are in focus? Uber Technologies Inc. UBER, +0.00% is expected to price its initial public offering later Thursday at “the midpoint or below” its $44 to $50 per share target, the Wall Street reported, , with its public debut on the New York Stock Exchange to occur sometime Friday. Roku Inc. ROKU, +22.67% stock popped 22% following a Wednesday-evening earnings report that showed the streaming platform company beating earnings expectations for the first quarter, while it forecast second-quarter revenue that also beat estimates.
Fox Corp. FOXA, +3.22% stock advanced 2.9% after the company reported its first quarterly earnings as a stand-alone company, beating analyst forecasts for earnings and sales. Fox was spun off from 21st Century Fox earlier this year, and began trading as its own entity in March.
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