Trade war fears; Facebook trouble; Stocks up

1. Trade war fears: A measure of calm has returned to global markets. But for how long?...

Posted: Apr 5, 2018 2:27 PM
Updated: Apr 5, 2018 2:27 PM

1. Trade war fears: A measure of calm has returned to global markets. But for how long?

US stock futures were higher on Thursday, and most global markets posted gains in excess of 1%.

The positive mood follows days of volatile trading driven by a quick-fire exchange of threats between the United States and China. Investors fear a full-blown trade war could erupt.

Experts say the latest threat from China -- a plan for tariffs on $50 billion worth of US exports -- could be an effort to push the United States into negotiating a deal to defuse the trade spat.

The Dow Jones industrial average closed 1% higher on Wednesday, reversing huge losses from earlier in the trading session. The S&P 500 added 1.2% and the Nasdaq gained 1.5%.

2. Facebook's data problem: Facebook has revealed that Cambridge Analytica, a data firm with ties to President Donald Trump's campaign, may have had information on about 87 million of its users.

Previous reporting had put the number of people whose information may have been shared at around 50 million. Cambridge Analytica disputes the figure.

Australia launched a formal investigation into Facebook on Thursday after the company revealed information about hundreds of thousands of Australians was potentially exposed.

The data scandal has raised questions about the social media company's business model, and the leadership of CEO Mark Zuckerberg.

3. Global market overview: European stocks opened firmly higher on Thursday. Benchmark indexes in London, Paris and Frankfurt all gained more than 1.5%.

Japan's Nikkei added 1.5% and Korea's Kospi increased 1.2%. Markets in China are closed on Thursday and Friday.

Oil gained 0.3% to trade at $63.50 per barrel after a report showed a decline in US crude stocks.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Earnings and economics: Monsanto will release earnings before the open. WD-40 is up after the close.

The US Census Bureau will release trade balance data for February at 8:30 a.m. ET.

The Department of Labor is set to publish jobless claims statistics at the same time. The US jobs report for March will be released on Friday.

New data show car sales in the United Kingdom slumped 16% over the previous year in March. Diesel sales slumped 37%.

The Reserve Bank of India will issue a rate decision on Thursday.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

5. Coming this week:
Thursday - February trade deficit report
Friday - Jobs report

New York Coronavirus Cases

County data is updated nightly.

Cases: 2796990

Reported Deaths: 57880
CountyCasesDeaths
Kings35476411002
Queens33149310435
Suffolk2618833704
Nassau2312823342
Bronx2155886818
New York1795964670
Westchester1503482358
Erie1302212100
Monroe1014341267
Richmond943901978
Orange63761945
Onondaga61679829
Rockland56262783
Dutchess38898514
Albany35586421
Oneida34426660
Niagara30089428
Broome29230441
Saratoga26027234
Schenectady20033252
Ulster19676295
Rensselaer18229199
Chautauqua15775197
Oswego14855138
St. Lawrence13495148
Putnam13437101
Chemung13381179
Steuben13175195
Ontario12310121
Jefferson11931108
Wayne10862107
Cattaraugus10460166
Cayuga10104115
Sullivan1001290
Genesee9064147
Herkimer8743147
Clinton846950
Fulton8157115
Tompkins774161
Warren773199
Madison7721110
Livingston756879
Montgomery7519165
Washington713484
Tioga664474
Allegany6326124
Cortland628089
Columbia5970115
Chenango584498
Orleans582497
Franklin574627
Otsego570468
Wyoming558370
Greene514391
Delaware471953
Lewis436940
Seneca345670
Essex311940
Schoharie290426
Yates209434
Schuyler204820
Hamilton5313
Unassigned1472
Out of NY0342
Utica
Cloudy
30° wxIcon
Hi: 30° Lo: 21°
Feels Like: 25°
Oneonta
Cloudy
27° wxIcon
Hi: 30° Lo: 24°
Feels Like: 27°
Herkimer
Cloudy
30° wxIcon
Hi: 32° Lo: 22°
Feels Like: 25°
Old Forge
Cloudy
30° wxIcon
Hi: 26° Lo: 20°
Feels Like: 30°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
2022 WKTV Golf Card only $99.99
Game Day Deals - New Deals Each Week
Stuff the Bus Locations
Saluting Those Who Are Proud 2 Serve