James Bullard said he dissented on this week's Fed decision to lower rates by a quarter percentage point because he didn't think the cut was big enough.The Fedread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
"I feel like I've contributed all I can to this primary election," he told MSNBC's "Morning Joe." "And it's clearly not my time. So I'm going to end my presidential campaign."2020 Electionsread more
Apple will get a taste of whether upgraded features on the new iPhone 11 are enough to lure shoppers to retail stores around the world as the new smartphones officially hit...Technologyread more
The complaint made by an unnamed intelligence official about the president centers on Ukraine, the Washington post reported.Politicsread more
Apple CEO Tim Cook greeted iPhone 11 customers at the reopening of the Fifth Avenue Apple store on Friday. CNBC also took a tour inside. Here's a look.Technologyread more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
Joshua Harris, Apollo Global Management's co-founder, has a message for private equity's naysayers in Washington.Delivering Alpharead more
Bank of America says Amazon's plans to build its own fleet of carbon-neutral delivery trucks bode well for its bottom line.Investingread more
The show comes as social media platforms and legacy media companies alike have launched a flurry of original content alongside new streaming platforms like Apple TV+ and...Technologyread more
Pivotal Research Group began coverage of Roku with a sell rating on FridayInvestingread more
hit by trade woes@ (Updates with closing price) Sept 2 (Reuters) - The Argentine peso steadied and the Merval stock index jumped on Monday as the country imposed capital controls to stem losses in the currency, outperforming its Latin American peers held back by worries over new U.S.-China tariffs. The peso closed up 0.88% at 59 per dollar in official trading after the government authorized currency controls on Sunday, an about-face by President Mauricio Macri, who had previously lifted many protectionist practices of his predecessor, Cristina Fernandez de Kirchner. The peso fell about 0.79% in black market trading, underscoring a loss of trust in the official price, while Argentine dollar bonds and euro-denominated bonds slumped to new lows. However, its benchmark stocks index rose more than 6% to record its biggest percentage gain in nearly three weeks. The central bank is now authorized to restrict purchases of dollars as it burns through reserves to prop up the peso, which fell nearly 5% in the opening hours of trading, but staged a turnaround. The controls followed the peso's drop in August to its worst month on record after Standard & Poor's, Fitch and Moody's downgraded Argentina's debt, citing growing risks of a default after the government announced plans to "re-profile" some $100 billion in debt. "On ARS, it appears that authorities will keep it stable now. Capital controls are not necessarily FX negative, but liquidity disappears," Citi's Dirk Willer wrote in a client note. "Clearly local markets have become uninvestable again. Index providers are also likely to take note." The peso has been battered since Macri suffered a thumping defeat in primaries at the hands of Alberto Fernandez, on fears that the return of a leftist government could herald a new era of interventionist policies. MSCI's index of Latin American stocks shed over 1% with stocks in Mexico leading losses after a survey showed activity in the country's manufacturing sector shrank for a third consecutive month in August. Brazilian shares edged lower and the real dropped 0.8% despite upbeat factory activity numbers and a slightly higher-than-expected trade surplus in August.
The sentiment was fragile as the United States began imposing 15% tariffs on a variety of Chinese goods on Sunday and China retaliated by setting duties on U.S. crude oil.
With U.S. markets closed for holiday, trading volumes were thin across the board.
Key Latin American stock indexes and currencies at 1914 GMT:
Stock indexes Latest Daily %
MSCI Emerging Markets 981.93 -0.24MSCI LatAm 2563.32 -1.44Brazil Bovespa 100819.97 -0.31Mexico IPC 42175.33 -1.05Chile IPSA 4769.72 -0.72Argentina MerVal 26103.55 6.075Colombia IGBC 12625.96 -0.1Currencies Latest Daily %
Brazil real 4.1795 -0.91Mexico peso 20.1483 -0.45Chile peso 724.8 -0.46Colombia peso 3437.65 0.06Peru sol 3.405 -0.53Argentina peso 57.5000 3.51
(Reporting by Sruthi Shankar and Agamoni Ghosh in Bengaluru; Editing by Richard Chang)