It is reported that China and US plan to announce the trade agreement in early May, preparing for the formal signing of the agreement at the end of May. The US trade representative and finance minister plan to go to Beijing on the week of April 29, and the Chinese Vice Premier Liu He will go to Washington for consultations in the following week. The Fed’s Beige Book shows that the US economy grew at a slight to moderate rate in March and early April. Besides, the US trade deficit narrowed to an eight-month low in February.
- The Dow Jones Industrial Average closed at 26,449.54 points, decreased by 3.12 points or 0.01%. The Standard & Poor’s 500 Index closed at 2,900.45 points, decreased by 6.61 points or 0.23%. The Nasdaq index closed at 7,996.08 points, decreased by 4.15 points or 0.05%.
- According to informed sources, the United States and China have arranged two rounds of high-level trade negotiations. The US trade representative and the finance minister plan to go to Beijing on the week of April 29, and the Chinese Vice Premier Liu He will go to Washington for consultations in the following week.
- The Fed’s Beige Book shows that the US economy grew at a slight to moderate rate in March and early April, but there are a few regions reported that economic activities has improved.
- The UK’s FTSE 100 index closed at 7,471.32 points, increased by 1.40 points or 0.02%. The Frankfurt DAX index closed at 12,153.07 points increased by 51.75 points or 0.43%. The French CAC40 index closed at 5,563.09 points, increased by 34.42 points or 0.62%.
- European Central Bank official Nowotny predicts that the euro zone economy will stabilize in the second half of the year, and the European Central Bank is unlikely to significantly reduce its growth forecast in June.
- The EU intends to adopt retaliatory tariff measures on US goods and to issue a preliminary taxation list since US subsidies Boeing and causes unfairness.
- Japan’s Nikkei 225 index closed at 22,277.97 points, increased by 56.31 points or 0.25%. The yen closed at 112.010 against the US dollar decreased by 0.098%.
- Kyodo News reported that Japanese Finance Minister Taro Aso plans to visit the United States next week and will discuss the foreign exchange issue with US Treasury Secretary Mnuchin. Japanese Prime Minister Shinzo Abe plans to meet with Trump next week.
- The Shanghai Composite Index closed at 3,263.12 points, increased by 9.52 points or 0.29%. The Shanghai and Shenzhen 300 Index closed at 4,087.24 points, increased by 1.45 points or 0.04%. The RMB closed at 6.689 against 1 US dollar, up 0.314%.
- The State Council of China held a standing meeting on April 17, demanding to establish a policy framework to provide lower deposit reserve ratios for small and medium-sized banks, ensuring that the scale of financing for small and micro enterprises will increase and the costs will fall.
- According to informed sources, the National Development and Reform Commission (NDRC) is considering to launch measures to subsidize new energy vehicles, smart phones and home appliances, with an aim to boost the consumption of cars, home appliances and mobile phones.