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Xi's pledge to open market unrelated to trade spat: Beijing

14 April 2018

This April 5, 2018, photo shows a sign for a Wall Street subway station in NY.

According to some participants in the USA policy process, these officials judged that strong countermeasures against Chinese assertiveness and expansion on the South China Sea dispute, trade issues, or other matters would lead to wide-ranging Chinese retaliation, possibly jeopardizing their programs. Trump's administration previous year labeled both China and Russian Federation "rival powers". The company also exports certain models from Germany to China.

BONDS: Bond prices were little changed. The global trade balance often slips into deficit for one month early each year as factories restock following the Lunar New Year holiday. Alicia Levine, head of global investment strategy at BNY Mellon Investment Management, said that's giving investors something new to focus on after nearly six weeks of worrying about a trade war.

The reports said policy shifts in both countries triggered the decline. The Dow gained 428.90 points, or 1.8 percent, to 24,408. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.24 percent higher, while Japan's Nikkei rose 0.54 percent.

But the disjunction between hardline rhetoric and aggressive tariff proposals on the one hand and reassurance to investors and businesses on the other has whipsawed the financial markets.

The US State Department also hailed Xi's remarks.

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Investigators found Fish was sacked months earlier after school leaders learned he hosted a "fight club" in a math classroom. She's been considering a role in politics for two years but was propelled to make her bid official by the ongoing walkouts.

Liu He, a vice premier overseeing economics and finance, told a group of officials Thursday that Beijing had rejected a USA request to stop subsidizing industries related to its "Made in China 2025" initiative, the person said. On Tuesday, Chinese leader Xi Jinping warned U.S. against "arrogance", issuing a veiled warning to Trump with a promise to lower levies.

US Commerce Secretary Wilbur Ross said in an interview with CNBC that it would not be surprising if the US and China trade actions led to negotiations, although he would not speculate on when this might happen. On March 22, President Trump directed his administration to take actions to address China's forced technology transfers, discriminatory licensing restrictions, state-directed acquisition of US sensitive technology, and hacking of USA commercial networks. "China's response is a surprise for some people", Julian Evans-Pritchard, senior China economist at Capital Economics, said. "You might be less likely to raise wages".

The bottom line: It's more cost effective to make cars in a region where they will be sold. They didn't give a specific time frame.

Analysts expect quarterly profits for S&P 500 companies to rise 18.5 percent from a year ago, which would be the biggest gain in seven years, according to Thomson Reuters I/B/E/S.

USA crude rose 3.42 percent to $65.59 per barrel. Brent crude, used to price global oils, gained 24 cents to $72.30 a barrel in London.

Precious metals prices tumbled. Natural gas lost 1.4 percent to $2.66 per 1,000 cubic feet.

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In other energy trading, wholesale gasoline rose 2.9 percent to $2.04 a gallon.

Obama administration officials' interest in Chinese cooperation on climate change reportedly was an important element influencing decision making on-and preventing-toughening United States policy in other areas of the relationship.

USA oil exports surged to 2.175 million barrels a day in the last week of March, up almost 30% from the previous week. Texas Instruments gained $1.89, or 1.9 percent, to $101.70.

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Mallinckrodt said it "vehemently disagrees with the allegations" and will defend itself in court.

The dollar climbed to 107.17 yen from 106.78 yen. The euro was flat at $1.2369.

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Xi's speech buoyed world markets, with Asian stocks closing higher and European shares up at the opening after being hammered by the trade row in recent weeks.

Xi's pledge to open market unrelated to trade spat: Beijing