The United States will impose tariffs on steel and aluminum imports from the European Union, Canada and Mexico from midnight Thursday, May 31, ending months of uncertainty over potential exemptions and sharply escalating the risk of a trade war. The announcement by Commerce Secretary Wilbur Ross was sure to cast a long shadow over a meeting of finance ministers from the world's Group of Seven top economies that opens later in the day in Canada.
U.S. stocks tumbled Monday as President Donald Trump continued his criticism of Amazon, sending those in the technology and consumer discretionary sectors lower. The selling also comes ahead of the Trump administration's plan to unveil this week the list of Chinese imports targeted for US tariffs. The list of $50 billion to $60 billion worth of annual imports is expected to target "largely high-technology" products.
We reached out to TipRanks to get a list of their top analysts in the energy sector along with their top current picks. TipRanks does not separate out energy from the broader sector of Basic Materials, so these analysts come from the Basic Materials sector with a focus on energy. Because the energy sector, along with the broader market, suffered a correction at the beginning of February, many of their selections offer a better point than first selected.
Reuters is reporting that Chicago-based commodity trading advisors and fund manager LJM Partners Ltd, is closing its doors after experiencing massive losses following the extreme sell-off in equity markets in early February.
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For the second time in less than a week the Dow Jones Industrial Average dropped by greater than 1,000 points. While not the worst days in terms of percentage losses, Feb. 5 and Feb. 8, 2018 are the two highest point loss days in Dow history and the only two days where losses surpassed 1000 points.