Trump, Xi Begin State Visit, Oil Soars on Iran Threat, More
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What did President Trump say about President Xi’s state visit and U.S.–China trade?
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News when you want it with Bloomberg News Now. I'm Nathan Hager. President Trump is hailing his quote great friendship with Chinese President Xi Jinping as his state visit gets underway at the White House. Bloomberg's Tyler Kendall is there.
This is, of course, a relatively positive reception by President Trump to Chinese President Xi Jinping, calling this a quote important moment for America as this marks the Chinese president's first state visit here to Washington. Since 2015, President Trump went on to say that, quote, working together, President Xi and I have made tremendous strides on issues facing our two countries. He touted the Board of Trade as well as market access for American farmers. We should say that the U.S. is pushing China to increase its agricultural purchases, as so far Beijing has only made good on about half of its commitments.
How is Iran’s threat to expand the war affecting global oil prices?
for American soybeans and also limited progress when it comes to planned promises to purchase nearly $17 billion worth of additional agricultural goods.
Bloomberg's Tyler Kendall reports President Trump said they'll discuss pressing issues including security, technology, and artificial intelligence. In his opening remarks, President Xi said his visit is for friendship and cooperation. He also announced a bit of panda diplomacy. He says two pandas will arrive in Atlanta in the coming days. as what he calls envoys of friendship. Ahead of President Xi's visit, CNN, MSNOW and Politico say they were turned away from the White House today, despite a federal judge's order last night to temporarily restore their access. The outlets are asking for an immediate hearing with U.S. District Judge Timothy Kelly. He's ordered the White House to respond by 1230 this afternoon, Wall Street time.
Oil is surging as Iran threatens an expansion of the war in the Middle East if the U.S. resumes attacks. This follows defiant speech from Iran's president and the first indirect talks in months between the U.S.
What are the Federal Reserve’s latest views on inflation and possible rate hikes?
and Iran on the sidelines of the U.N. General Assembly. Bloomberg's Paul Wallace has
more from Dubai. The Iranians were pretty clear after that meeting between Aragshi and Wyckoff and Kushner that things hadn't changed much. They didn't sort of get too excited in the aftermath of that meeting. They sort of said that all Aragshi did was... We reiterate Iran's lines, Iran's stance, and number one on that list pretty much is that the U.S. has to lift its naval blockade of Iran. And then the president yesterday in his U.N. speech did that too.
Bloomberg's Paul Wallace in Dubai. Today, Saudi Arabia said it intercepted at least six Houthi missiles fired at the Red Sea port of Yanbu and the city of Taif. Israeli Prime Minister Benjamin Netanyahu is set to deliver his own speech to the U.N.
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General Assembly today. Netanyahu's office says it's a quick trip to New York before he returns to Israel for the start of a Jewish holiday tonight. Checking crude prices right now, Brent is above $107 a barrel, a gain of more than 4%. West Texas Intermediate's more than 4% higher as well, trading just right around $96. And that is adding to a bond sell-off that has Treasury yields at more than two decade highs. Right now, the 10-year is up four basis points at 5.15%. The 30-year is at 5.44, a level that hasn't been seen since 2004. And stocks are under pressure. The S&P 500 is down six-tenths of 1%. The Dow Jones Industrial Average is three-quarters of a percent lower. And the Nasdaq Composite is leading the declines down eight-tenths of 1%.
Philadelphia Fed President Anna Paulson says more rate hikes may be needed to bring inflation to the central bank's 2% target.
What is the takeover offer for GoDaddy and who is behind it?
Looking ahead, if conditions evolve as I expect, some modest further tightening may be warranted.
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Chapters
7 chapters
1
What did President Trump say about President Xi’s state visit and U.S.–China trade?
0:00–1:11
2
How is Iran’s threat to expand the war affecting global oil prices?
1:11–2:12
3
What are the Federal Reserve’s latest views on inflation and possible rate hikes?
2:12–3:01
4
Why is PepsiCo raising prices on its snack bags and how might it impact consumers?
3:01–3:55
5
What is the takeover offer for GoDaddy and who is behind it?
3:55–5:10
6
Why did Oracle issue a force‑majeure notice for Project Jupiter in New Mexico?
5:10–6:01
7
What legal action is New York taking against Polymarket and why?
6:01–7:13
Speakers
5 identifiedMore from Bloomberg News Now
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