The Chinese government will rely on a “core circle” of “old friends” on Wall Street and in Washington to influence the Biden administration, according to a Chinese academic with ties to the communist regime.
Di Dongsheng, the associate dean of the School of International Relations at Renmin University, offered his predictions about China-U.S. relations in the upcoming administration during a speech in Shanghai on Nov. 28.
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Regardless of how this election finally turns out—and we’re still weeks away from knowing the answer with certainty—it should be noted what President Trump was able to do in the last four years regarding the conservative narrative of the past several decades.
From what really was nothing more than an appendage of corporatism and vulture capitalists, Trump took the Republican Party and helped shape it into a broad coalition of workers and patriots that really does transcend race and ethnicities; call it America First Republican Populism.
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Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley are underwriting part of what could be a $40 billion initial public offering (IPO) for Ant Group Co. in Hong Kong and Shanghai, which China-controlled megacorporation Alibaba owns a 33 percent share of, raising concerns that the money will be ultimately funneled to the Chinese Communist Party (CCP) and military.
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Wall Street joined a worldwide upswell by markets on Monday, as stocks push higher on hopes that the economy can continue its dramatic turnaround despite all the challenges ahead.
The S&P 500 was 1.59% higher in afternoon trading, following up on similar gains in Europe and Asia. The headliner was China’s market, which leaped 5.7% for its biggest gain since 2015, when it was in the midst of a bubble bursting. Treasury yields also climbed in a signal of rising optimism after reports detailed improvements in the U.S. and European economies.
The Dow Jones Industrial Average closed up 459 points, or 1.78%, at 26,287. The biggest companies once again led the way, and strength for Apple, Amazon and other tech-oriented titans helped push the Nasdaq composite up 2.21% toward another record.
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Stocks are closing higher Thursday after a report showed the U.S. job market continues to climb out of the crater created by the coronavirus pandemic in the spring. The S&P 500 rose 0.45% and finished the holiday-shortened week with a gain of 4%. Stocks also rose across Europe and Asia, while oil prices strengthened on hopes that a recovering economy will mean more demand. Worries about the virus are still weighing on investors, however. Florida reported another sharp increase in confirmed cases, helping to cut the S&P 500′s earlier gains by more than half. The bond market was also showing continued caution.
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Stocks swung solidly higher on Wall Street in afternoon trading Monday after the Federal Reserve said it would begin buying individual corporate bonds, the central bank’s latest move to prop up volatile financial markets through the economic fallout of the coronavirus pandemic.
The S&P 500 was up 1% after being down as much as 2.5% shortly after trading began in New York. The gains followed sharp losses in Asia and more moderate ones in Europe. Worries were on the rise that new waves of coronavirus infections around the world could derail the swift economic recovery that Wall Street had seemed sure just a week ago was on the way.
Read More Stocks moved higher on Wall Street in afternoon trading Friday, recouping some of their losses a day after the market had its biggest rout since mid-March.
The S&P 500 was up 0.7% a day after dropping 5.9%. The benchmark index is still headed for a weekly loss following three weeks of solid gains. Small-company stocks and bond yields moved broadly higher, signs that pessimism about the economy was easing.
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In the current environment, something not seen in America in living memory, the fear and panic of the Chinese coronavirus make it near impossible to look ahead. But while everyone who can is working on the “here and now,” it is vital that we think about how this situation came to be, what we can learn from it, and how the crisis we are now experiencing can be prevented in the future.
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Democratic Massachusetts Sen. Elizabeth Warren’s presidency could spell ruin for the stock market, analysts predict.
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