Free trade

Coffee edges toward a bear market

Coffee beans
Photo: Nelson Almeida/AFP via Getty Images

Coffee is hovering on the edge of bear-market territory amid shifting supply expectations in Brazil, Bloomberg reports.

By the numbers: As of Friday, ICE stockpiles showed their first consecutive weekly gain since August, with weakened Brazilian currency increasing interest in "exports priced in the greenback," per Bloomberg. Coffee beans for delivery in March declined to $1.1215 a pound on ICE Futures, and the price fell 19% from a December high — inching closer to the 20% threshold of a bear market, Bloomberg writes.

Senate passes USMCA trade deal

Senator Mitch McConnell and Sen. Chuck Schumer
Photo: Drew Angerer/Getty Images

The Senate voted 89-10 Thursday to pass the U.S.-Mexico-Canada Agreement (USMCA), designed to replace the North American Free Trade Agreement.

Why it matters: The deal now heads to President Trump's desk for his signature, allowing the president to accomplish one of his biggest policy goals ahead of his 2020 re-election battle — hours before the official start of his impeachment trial