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Trump Scraps Plan for White House Infrastructure Council

19 August 2017

Mr Trump said via Twitter on Wednesday that he was shutting down the other two advisory councils to "avoid putting pressure on the businesspeople" to remain on board, but momentum was already moving in that direction. If inventory declines continued at the current pace, US stocks would fall below the five-year average in two months.

The dollar index rose 0.06 percent, with the euro down 0.22 percent to $1.1742, after hitting a three-week low following news of concern about its gains from within the European Central Bank. With the steep drop, the index fell to a five-month closing low. On the Nasdaq, 2,031 issues fell and 778 advanced.

Spot gold touched its highest since November 9 at $1,300.80 per ounce, and was up 0.03 percent at $1,287.95 an ounce by 3:20 p.m. EDT (1920 GMT).U.S. gold futures for December delivery settled at $1,291.60.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.55 per cent.

The Australian share market closed lower yesterday.

NEW YORK, Aug 18 (Reuters) - The dollar fell to a four-month low against the Japanese yen on Friday as investors sought out the safe-haven currency in light of uncertainty about the White House's ability to push through its economic agenda.

While the German DAX Index has fallen by 0.3 percent, the U.K.'s FTSE 100 Index is down by 0.9 percent and the French CAC 40 Index is down by 1 percent. Agnico Eagle Mines Ltd climbed 1.5 per cent to $60.52.

One individual who has been at the center of the conversation is Trump's Chief Economic Adviser.

Reports of Cohn exiting Team Trump came after sources told POLITICO that he was upset about his boss's soft stance on white nationalist protesters behind violence in Charlottesville, Va.

Trump disbanded two business councils on Wednesday after several chief executives quit in protest over his remarks on white nationalists.

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Though three-second prize tickets were bought in different parts of the country, no one matched all the winning numbers. A cashier right, sells a Powerball lottery ticket to a patron in Chicago on January 8, 2016.

Stocks were initially in the red from rumors Donald Trump's economic advisor Gary Cohn would resign owing to unhappiness over the U.S. president's response to a violent rally by racist groups in Charlottesville, although a White House source denied the claims.

The week's losses further dented the post-election rally, which was built on Trump's promises of tax cuts and higher infrastructure spending.

The furor over President Donald Trump's response to the Charlottesville unrest has raised serious concerns over the ability of Republicans to marshal through an ambitious legislative agenda this fall, including a key priority for the entertainment industry: tax reform.

"It appears they've gotten so bogged down in the politics of confederate monuments, everybody thinks they're incapable of delivering meaningful change".

A van mowed down pedestrians in the heart of Spain's second-largest city on Thursday, killing at least 13 people in an attack claimed by Islamic State.

Other Republicans to criticize Trump's remarks included former MA governor and 2012 Republican presidential candidate Mitt Romney and U.S. Senator Marco Rubio, also a Trump rival in the 2016 campaign.

"A 5 percent correction will occur in the market easily 10 or 15 times a year, (and) we haven't had one this year", Armstrong said.

All 11 S&P sectors finished lower, with techs (-2%) leading the retreat, followed by industrials (-1.7%) and health care (-1.3%).

Nike's 4.6-percent slide weighed the most on the S&P and the Dow, following dismal results from sporting goods retailers Foot Locker and Hibbett.

Trump Scraps Plan for White House Infrastructure Council