Stocks edge higher on rising oil prices, but trade worries persist [Reuters (UK)]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
Global stocks edge higher on rising oil prices, but trade worries persist | Reuters 4 Min Read NEW YORK - World stocks rose on Tuesday, supported by broad gains in Europe and rising oil prices, even though markets across Asia remained in the grip of trade turbulence. A July 6 deadline is looming for Washington to impose tariffs on $34 billion worth of Chinese goods that Beijing has vowed to match with tariffs on U.S. products. President Donald Trump also threatened on Monday to “do something” if the United States was not better treated by the World Trade Organization. Prospects of a full-blown trade war and relentless yuan weakening - it has fallen 5 percent in the past two weeks and is near 11-month lows - reportedly forced China into intervention via state-run banks. “It is by far the biggest (yuan loss) I can remember. Prudence suggests it has to be matched across Southeast Asia because of the competitive implications,” said Bank of New York Mellon strategist Neil Mellor. “It gener
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