Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a month-long truce.Marketsread more
In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
Lawmakers, industry representatives and advocates are testifying to the Senate committee about the challenges that cannabis companies face in states where medical or...Health and Scienceread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
Chinese President Xi Jinping pledged a more open China on Tuesday, during a speech at a business forum in Boao on the southern island of Hainan.
Markets in Asia were encouraged by Xi's softer tone in the brewing trade war between the U.S. and China.
Here is a quick recap of what investors need to know:
Xi highlighted action that Beijing would take to "break new ground" on opening up the Chinese economy.
He promised that the new measures would turn into reality sooner rather than later. These include:
There was some good news for American companies, however.
Tesla is seen as the biggest potential winner. The electric vehicle (EV) company depends on imports for its sales in China, where the tariff on imported cars is 25 percent. If that tariff were to drop significantly, it could be a "game changer," Michael Dunne, founder of Automotive Resources Asia, said.
Unlike other American car-makers, Tesla does not have factories in China. Xi didn't provide any clarity on whether foreign automakers would be able to set up manufacturing facilities without Chinese joint venture partners entirely, but since Beijing wants to dominate EV technology and develop its own EV supply chain, some in China's auto industry have speculated that Tesla could receive favorable treatment.
Elsewhere, J.P. Morgan and BlackRock are both looking to expand their asset management businesses in China, said Peter Alexander, founder of Z-Ben Advisors. "Among U.S. managers, the likes of JPM, Blackrock and Invesco are currently the best positioned. They've been strategically adept — more than others — and have multiple platforms to access the China market," he said.
Met Life has its toe in the Chinese market and could also benefit, said Sam Radwan, CEO of ENHANCE International. He added that the life insurance industry would likely see changes first.
However, there's a reason why so many American business executives in China were underwhelmed by Xi's pledged reforms.
The decision to lift foreign equity caps was announced at the end of 2017 and the mechanisms to achieve this are already underway.
Other policies, such as the lowering of auto tariffs, are not seen as meaningful since most U.S. cars that are sold in China are made in China.
Automotive Resources Asia's Dunne said that out of the 5.2 million vehicles sold by GM, Ford and Chrysler in China, only 1 percent had been imported.
On easing restrictions in manufacturing or enforcing intellectual property, Xi offered few details and only vague timeframes. Most importantly, he didn't address a core U.S. concern — China's industrial policies.
So it remains to be seen whether Xi's speech was enough to appease the Donald Trump administration.