09/ Sep’19

Movers & Shakers: Sept. 9, 2019

Navarro: Trump’s economy is solid as a rock

U.S. adds 130K jobs in August; Trade and Manufacturing Policy director Peter Navarro weighs in.

China is feeling the pain of the trade war. China’s shipments to the U.S., its largest market, fell 16 percent year-over-year in August to $44.4 billion as the trade war continues to take a toll on the Chinese economy. Trade talks between the U.S. and China are scheduled for October. Meanwhile, stock futures are pointing to small gains ahead of the opening bell.

Saudi Aramco is close to picking a bank to lead its IPO. JPMorgan Chase is the front runner to lead Saudi Aramco’s initial public offering, Reuters reported, citing a source close to the matter. Morgan Stanley is also being considered, but reportedly hurt its chances after misjudging demand for Uber’s IPO. Aramco could be worth as much as $2 trillion.

British Airways pilots strike. British Airways pilots are conducting a 48-hour strike over pay, causing the cancellation of almost all of its 850 daily flights. Another strike is scheduled for Sept. 28.

Nadal wins the U.S. Open. The No. 2 seed Rafael Nadal beat the No. 5 seed Daniil Medvedev 7-5, 6-3, 5-7, 4-6, 6-4 to win his 19th Grand Slam title. Nadal and women’s champion Bianca Andreescu both won $3.85 million.

New England Patriots blow out the Pittsburgh Steelers. The New England Patriots kicked off their title defense with a 33 to 3 win over the Pittsburgh Steelers as Tom Brady threw for 341 yards and three touchdowns. The Patriots will have a new weapon added to their lineup next week when wide receiver Antonio Brown joins the team after being released by the Oakland Raiders.