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Wall Street Pauses as Earnings Season Heats Up

U.S. stock futures were mixed on Wednesday as investors braced for a wave of corporate earnings that could set the tone for markets in the weeks ahead. Futures tied to the Dow Jones Industrial Average and Nasdaq 100 hovered near flat, while S&P 500 contracts edged slightly higher. The cautious mood followed a record-setting session for the Dow, which closed at an all-time high above 47,000 on Tuesday, buoyed by strong results from blue-chip names like Coca-Cola. However, sentiment was tempered after Netflix shares tumbled more than 6% in after-hours trading on weaker-than-expected quarterly results. All eyes are now on Tesla, IBM, and other major companies set to report later today. Tesla’s earnings, in particular, are expected to be a key test for the so-called “Magnificent Seven” tech giants that have powered much of this year’s rally. Meanwhile, bond markets remained steady, with the 10-year Treasury yield holding just under 4%. Investors are also watching closely for signs ...
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China Warns 'No One Will Win a Trade War' After Trump's Tariff Threat

 

 China has issued a stern warning to U.S. President-elect Donald Trump following his announcement of a 10% tariff on all Chinese imports. The Chinese Embassy in Washington emphasized that "no one will win a trade war," highlighting the mutual benefits of U.S.-China economic and trade cooperation.

Trump's proposed tariffs are part of his broader strategy to combat illegal immigration and drug trafficking, particularly fentanyl. He stated that these tariffs would remain until China takes significant measures to halt the flow of drugs into the United States.

Chinese officials have pushed back against these claims, pointing to recent efforts to curb the export of fentanyl precursors and other narcotics-related measures. The embassy spokesperson, Liu Pengyu, reiterated that the idea of China knowingly allowing fentanyl precursors to flow into the U.S. runs counter to facts and reality.

As tensions escalate, the global community watches closely, aware that a trade war between the world's two largest economies could have far-reaching consequences.



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