Trump bashes TPP; Tesla's Model 3 ambitions; Starbucks shutdown

1. Trump bashes TPP: President Donald Trump has renewed his attack on a huge Pacifi...

Posted: Apr 18, 2018 1:23 PM
Updated: Apr 18, 2018 1:23 PM

1. Trump bashes TPP: President Donald Trump has renewed his attack on a huge Pacific trade pact just days after raising the possibility of the United States rejoining it.

Trump ditched the Trans-Pacific Partnership spanning the United States and 11 other countries shortly after coming into office. The remaining countries went ahead with a new deal without the United States.

Last week, Trump asked his top trade and economic advisers to investigate "whether or not a better deal could be negotiated," the White House said.

But Trump tweeted on Wednesday that he thought the TPP was a bad deal for the world's biggest economy.

"While Japan and South Korea would like us to go back into TPP, I don't like the deal for the United States," he tweeted.

2. Tesla model 3 ambitions: Shares in Tesla climbed higher in extended trading after automotive news website Electrek said the carmaker is aiming to ramp up production of the Model 3 to 6,000 per week by the end of June.

The report cited a letter to employees from Chief Executive Elon Musk.

Tesla temporarily suspended production of the Model 3 sedan on Monday to work out kinks in its assembly line. The announcement battered the stock, adding to worries about Tesla's ability to scale up.

3. Starbucks racial bias training: Starbucks will close its 8,000 company-owned stores in the United States on May 29 to educate employees about racial bias.

The announcement late Tuesday follows an uproar over the arrest of two black men who were waiting for a friend at a Philadelphia Starbucks last week. The store manager called the police.

The racial bias training will be provided to about 175,000 workers.

4. Global market overview: US stock futures were higher early on Wednesday, pointing to a third straight day of gains on Wall Street.

Major stock markets in Europe and Asia were also up.

The Dow Jones industrial average closed 0.9% higher on Tuesday, while the S&P 500 was 1.1% up.

The Nasdaq soared 1.7%, helped by a big jump in Netflix which surged 9% after blowout results.

Prices of aluminum jumped to the highest levels since 2011, after Reuters reported that Japanese traders have asked Russia's Rusal to stop shipping aluminum because of US sanctions.

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

5. Earnings and economics: Morgan Stanley is set to report its earnings before the opening bell.

American Express and Alcoa will follow after the markets close.

Shares in British passport maker De La Rue dropped 6% in early London trade after the company issued a profit warning. De La Rue also said it would not appeal the UK government's decision to award a contract to print new passports to a French company instead.

US crude inventories data will be published at 10:30 a.m. ET. Oil prices have been volatile in recent days because of tension in the Middle East. US crude futures were 0.9% higher, trading at $67 per barrel.

The Federal Reserve will release its Beige Book economic report at 2 p.m. ET

The Bank of Canada's interest rate meeting is scheduled for 9 a.m. ET.

Latest inflation data from the UK showed prices rose 2.5% year on year in March, down from 2.7% in February. The pound dropped 0.7% against the dollar after the data was published.

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

6. Coming this week:

Wednesday - Morgan Stanley, American Express earnings
Thursday - BNY Mellon earnings
Friday - State Street, Procter & Gamble, GE earnings

Correction: A previous version of this article incorrectly stated UK inflation was 2.8% in February. It was 2.7%.

West Lafayette
Mostly Cloudy
70° wxIcon
Hi: 76° Lo: 63°
Feels Like: 70°
Kokomo
Cloudy
75° wxIcon
Hi: 77° Lo: 62°
Feels Like: 75°
Rensselaer
Cloudy
72° wxIcon
Hi: 76° Lo: 61°
Feels Like: 72°
Fowler
Partly Cloudy
70° wxIcon
Hi: 75° Lo: 61°
Feels Like: 70°
Williamsport
Partly Cloudy
63° wxIcon
Hi: 75° Lo: 63°
Feels Like: 63°
Crawfordsville
Mostly Cloudy
70° wxIcon
Hi: 73° Lo: 61°
Feels Like: 70°
Frankfort
Partly Cloudy
70° wxIcon
Hi: 74° Lo: 61°
Feels Like: 70°
Delphi
Mostly Cloudy
73° wxIcon
Hi: 77° Lo: 63°
Feels Like: 73°
Monticello
Partly Cloudy
73° wxIcon
Hi: 78° Lo: 65°
Feels Like: 73°
Logansport
Partly Cloudy
72° wxIcon
Hi: 77° Lo: 61°
Feels Like: 72°
Comfortable weekend with a few spotty showers & t'showers...
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 771299

Reported Deaths: 14005
CountyCasesDeaths
Marion1059471808
Lake570611031
Allen43193700
Hamilton37458426
St. Joseph37420568
Elkhart29819471
Tippecanoe23584231
Vanderburgh23431405
Porter19616327
Johnson18899394
Hendricks18168323
Clark13623199
Madison13604348
Vigo12908256
Monroe12626178
LaPorte12594225
Delaware11183198
Howard10747237
Kosciusko9810124
Hancock8799150
Bartholomew8296157
Warrick8150157
Floyd8072183
Grant7397181
Wayne7254201
Boone7236105
Morgan6948143
Marshall6358117
Dubois6301118
Cass6110112
Dearborn604078
Noble603590
Henry5971111
Jackson518677
Shelby512898
Lawrence4961127
Gibson467296
Montgomery461392
Clinton458455
DeKalb458485
Harrison456977
Huntington421382
Whitley418645
Steuben412861
Miami407273
Jasper402556
Knox393191
Putnam386862
Wabash371684
Adams355356
Ripley352771
Jefferson347187
White340954
Daviess3098100
Wells304881
Greene295985
Decatur293493
Fayette287464
Posey285435
Scott283458
LaGrange278472
Clay276049
Washington255637
Randolph248283
Jennings240449
Spencer239731
Fountain237250
Starke230859
Owen224759
Sullivan222943
Fulton209545
Jay203432
Carroll198822
Orange192756
Perry191939
Vermillion181944
Rush178627
Tipton173848
Franklin173035
Parke156816
Pike143434
Blackford138232
Pulaski124048
Newton123736
Benton110515
Brown106443
Crawford106316
Martin92715
Warren88015
Switzerland8488
Union73710
Ohio58411
Unassigned0429

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events