U.S. financial markets were poised to rise Monday after President Donald Trump and Chinese President Xi Jinping agreed to a truce in the countries' ongoing trade war. Mr. Trump agreed to hold off on a sharp hike in tariffs on Chinese imports that had been scheduled to take effect Jan. 1. In return, the People's Republic committed to buy more American farm, industrial and energy goods and tighten restrictions on sales of fentanyl, among other concessions. The U.S. will postpone until March 1 a plan to raise tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent, with Washington set to resume talks with Beijing in hopes of a longer term deal on trade. "This agreement at least postpones further escalation in the trade war, avoiding an outcome that would have roiled financial markets," Eurasia Group analysts wrote in a research note. "That appears to have been a key consideration for Trump, who became more open to a deal as US stock markets … [Read more...] about Stocks set to rise after U.S., China cool trade tensions
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The Centers for Disease Control and Prevention calls cigarette smoking “the leading cause of preventable disease and death in the U.S., accounting for over 480,000 deaths per year.” The CDC just announced that smoking rates among U.S. adults have fallen to the lowest level ever recorded – only 14 percent, less than a third the rate just 70 years ago. While this decline is remarkable, it also points to a puzzle: How did smoking rates ever get so high in the first place? November is Lung Cancer Awareness Month, which provides a timely opportunity to review the history of tobacco smoking and its promotion. GETTING CIGARETTES ROLLING Tobacco smoking originated in America around 3,000 B.C. Seafaring traders introduced it to Europe and Asia in the 17th century. One of the first anti-tobacco publications ever issued was King James I’s 1604 “Counterblaste to Tobacco,” in which he condemns the practice as “loathsome to the eye, hatefull to the nose, … [Read more...] about Smoking rates in U.S. have fallen to all-time low, but how did they ever get so high?
A broad sell-off in technology companies pulled U.S. stocks sharply lower Monday, knocking more than 600 points off the Dow and sending the tech-heavy Nasdaq composite down nearly 3% into a slight loss for the year so far. Apple, Amazon and other big tech names fell. Banks and consumer-focused companies and media and communications stocks also took heavy losses. The Dow Jones industrial average fell 2.3 percent, or 601 points, to close at 25,387 The broader S&P 500-stock index dropped 2 percent, while the Nasdaq slid 2.8 percent. The Russell 2000 index of smaller companies gave up 1.5 percent. Bond trading was closed for Veterans Day. "Tech is definitely weighing [on the market]," said Lindsey Bell, investment strategist at CFRA. "The question really is growth. We continue to like tech going into next year, but we think it could be a little bit of a rocky period for the group as we continue through the last two months of the year." Apple tumbled 5 percent to $194.24 … [Read more...] about Tech giants continue weighing down U.S. stock markets
Grant Smith and Sharon Cho, Bloomberg 7:07 am CDT, Tuesday, September 11, 2018 West Texas Intermediate for October delivery traded at $67.87 a barrel on the New York Mercantile Exchange, up 33 cents, at 10:09 a.m. in London. West Texas Intermediate for October delivery traded at $67.87 a barrel on the New York Mercantile Exchange, up 33 cents, at 10:09 a.m. in London. Photo: Hasan Jamali /Associated Press Photo: Hasan Jamali /Associated Press Image 1 of / 1 Caption Close Image 1 of 1 West Texas Intermediate for October delivery traded at $67.87 a barrel on the New York Mercantile Exchange, up 33 cents, at 10:09 a.m. in London. West Texas Intermediate for October delivery traded at $67.87 a barrel on the New York Mercantile Exchange, up 33 cents, at 10:09 a.m. in London. … [Read more...] about Brent crude trades at $10 premium to U.S. oil amid Iran risk
Tsuyoshi Inajima and Alex Longley, Bloomberg 5:17 am, Friday, June 1, 2018 Photo: Tim Rue / Bloomberg Image 1of/1 CaptionClose Image 1 of 1 The Alaskan Frontier oil tanker takes on fuel at an outside anchorage in this aerial photograph taken near the Port of Los Angeles in Los Angeles, California, U.S., on Thursday, April 19, 2018. Photographer: Tim Rue/Bloomberg less The Alaskan Frontier oil tanker takes on fuel at an outside anchorage in this aerial photograph taken near the Port of Los Angeles in Los Angeles, California, U.S., on Thursday, April 19, 2018. ... more Photo: Tim Rue / Bloomberg U.S. oil poised for weekly loss as record output weighs on price 1 / 1 Back to Gallery Oil in New York headed for a second weekly loss as U.S. output surged, pushing the American marker to near its weakest … [Read more...] about U.S. oil poised for weekly loss as record output weighs on price