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Morning Brief: China to ask WTO for US sanctions

Tuesday, September 11, 2018

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What to watch today

In the morning, the August check on small business optimism and the July report on job openings will be released. The NFIB’s reading on small business optimism hit its highest level since the Reagan administration in July coming at 107.9, and Wall Street is forecasting a slight increase in this gauge to 108.1. The job openings and labor turnover survey — or JOLTS report — is coming off a near-record reading June, with 6.66 million jobs open during the month. Small business optimism has been one of the strongest economic readings since the election while the JOLTS report has given economists another look at how slack is disappearing from the labor market.

The floor of the New York Stock Exchange will also observe a moment of silence on Tuesday morning to mark the anniversary of the terrorist attacks of September 11, 2001.

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Top news

REUTERS/Damir Sagolj

China to ask WTO for sanctions in US trade disputeChina will ask the World Trade Organization for permission to impose sanctions on the United States, for Washington’s non-compliance with a ruling in a dispute over U.S. dumping duties that China initiated in 2013, a meeting agenda showed on Tuesday. [Reuters]

Trump’s tweet about the economy was false, top White House adviser says: Kevin Hassett, the top official on the White House economic advisory council, said on Monday that President Donald Trump’s claim that the quarterly change in the country’s gross domestic product has eclipsed the U.S. unemployment rate for “the first time in over 100 years” is false. [Yahoo News]

Musk ditches two car paint options for TeslaElon Musk’s efforts to streamline production at Tesla Inc. (TSLA) have gotten down to the paintwork. The electric-car maker will ditch two of seven colors offered to buyers on Wednesday to simplify manufacturing, Musk, Tesla’s chief executive officer, said in a tweet. [Bloomberg]

Buffett’s Berkshire Hathaway sells more of its stake in oil refinerBerkshire Hathaway (BRK-A, BRK-B) continues to unload its stake in Phillips 66 (PSX) , disclosing Monday the sale of another 36% of its holdings in the stock since the end of the second quarter. [CNBC]

Florence could hit with punch not seen in more than 60 yearsHurricane Florence could inflict the hardest hurricane punch the Carolinas have seen in more than 60 years, with rain and wind of more than 130 mph. North Carolina has been hit by only one other Category 4 storm since reliable record keeping began in the 1850s — Hurricane Hazel in 1954. [AP]

For more of the latest news, go to Yahoo Finance

The World Trade Center site is seen from an upper floor of 3 World Trade Center in New York. The annual 9/11 commemorations are by now familiar rituals, centered on reading the names of the dead. But each year at ground zero, victims’ relatives infuse the ceremony with personal messages of remembrance, concern and inspiration. (AP Photo/Mark Lennihan, FIle)


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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.