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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 12:23 PM
Updated: Apr 18, 2018 12:23 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.

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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.

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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%.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 314509

Reported Deaths: 7247
CountyCasesDeaths
DeSoto21626259
Hinds20359415
Harrison17934309
Rankin13634278
Jackson13447246
Madison10099217
Lee9980174
Jones8381163
Forrest7683152
Lauderdale7191241
Lowndes6401147
Lamar623086
Lafayette6200118
Washington5339134
Bolivar4802132
Oktibbeha462798
Panola4588107
Pearl River4512146
Marshall4443103
Warren4393121
Pontotoc420772
Monroe4113133
Union411076
Neshoba4031176
Lincoln3968110
Hancock379386
Leflore3497125
Sunflower336090
Tate334084
Pike3325105
Scott315973
Alcorn313368
Yazoo311669
Itawamba300477
Copiah297065
Coahoma295479
Simpson295288
Tippah288768
Adams286882
Prentiss279760
Marion269280
Leake268373
Wayne262641
Grenada261487
Covington259681
George248048
Newton246861
Winston227281
Tishomingo226967
Jasper221148
Attala214473
Chickasaw207857
Holmes189173
Clay185454
Stone182833
Tallahatchie178841
Clarke178080
Calhoun170832
Yalobusha164338
Smith162434
Walthall133945
Greene130633
Lawrence128624
Montgomery126942
Noxubee126734
Perry126338
Amite123142
Carroll121829
Webster114532
Jefferson Davis107133
Tunica105726
Claiborne102430
Benton99525
Humphreys96733
Kemper95828
Franklin83823
Quitman80916
Choctaw76418
Wilkinson67331
Jefferson65728
Sharkey50217
Issaquena1686
Unassigned00

Alabama Coronavirus Cases

Cases: 532895

Reported Deaths: 11001
CountyCasesDeaths
Jefferson771431528
Mobile41089808
Madison34837505
Tuscaloosa25810454
Montgomery24355588
Shelby23730249
Baldwin21191309
Lee15892171
Calhoun14522316
Morgan14324279
Etowah13861353
Marshall12250223
Houston10581281
Elmore10060205
Limestone9986151
Cullman9705194
St. Clair9702243
Lauderdale9441242
DeKalb8846187
Talladega8255176
Walker7246277
Autauga6938108
Jackson6815112
Blount6694137
Colbert6310134
Coffee5524119
Dale4850111
Russell443238
Chilton4308112
Franklin426282
Covington4136118
Tallapoosa4039152
Escambia393977
Chambers3578123
Dallas3557152
Clarke351161
Marion3130101
Pike311377
Lawrence300798
Winston275673
Bibb261564
Geneva251477
Marengo249664
Pickens234761
Barbour231756
Hale223277
Butler216469
Fayette212562
Henry189044
Cherokee184745
Randolph181742
Monroe178040
Washington167639
Macon159950
Clay156857
Crenshaw152757
Cleburne149141
Lamar142935
Lowndes139053
Wilcox127130
Bullock122841
Conecuh110629
Coosa107928
Perry107826
Sumter104832
Greene92534
Choctaw61124
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