Jan 27, 2019

U.S.-China trade talks to heat back up this week

Chinese and American flags in Beijing. Photo: Fred Dufour/AFP/Getty Images

In the wake of George Soros' broadside against China in Davos, expect to hear much more about China this week.

What to watch: The U.S. and China will hold another round of trade talks on Wednesday — this time in Washington. Vice Premier Liu He "may be bringing an offer of more significant structural concessions," says Bill Bishop of Sinocism, but don’t expect major breakthroughs.

What else to expect this week..
  • Caterpillar said last quarter that it was reeling from tariffs, so a lot of China watchers will be looking to its earnings tomorrow.
  • Apple is out with earnings on Tuesday. We already know the company had a rough quarter. Expect CEO Tim Cook to field a lot of questions from analysts about China, and none about his lunch with Brazilian President Jair Bolsonaro in Davos.
  • Microsoft and Amazon report earnings on Wednesday and Thursday, respectively. Also watch for reports from Facebook and Tesla, which is expected to be profitable for a second consecutive quarter.

The government is back open, but we may not get the final 2018 GDP report on Wednesday. The release may be postponed if there’s a big backlog of prep work for the Bureau of Economic Analysis employees who were furloughed.

  • The Fed concludes its two-day policy meeting on Wednesday. No rate hike is expected.
  • One report that’s coming for sure is the first jobs report of 2019, which will be released on Friday at 8:30 am. Economists estimate that 160,000 jobs were added in January. The unemployment rate is less predictable, as a lot of government workers will have been counted as unemployed for the reference week of Jan. 6–12.

Brexit is still an omnishambles. Reuters has an excellent guide to the various amendments you can expect this week, and which ones have a chance of passing.

  • TL;DR: Don't be surprised if the government loses control of parliament, allowing MPs to draft and vote on their own Brexit policies.

Go deeper: Chinese vice premier heads to D.C. for next round of trade talks

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Coronavirus dashboard

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  4. Federal government latest: The White House and other institutions are observing several models to better understand and prepare cities for when the coronavirus is expected to peak in the U.S.
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U.S. coronavirus updates: White House studies models projecting virus peak

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

The White House and other institutions are observing several models to better understand and prepare cities for when the coronavirus is expected to peak in the U.S.

The state of play: The coronavirus is expected to peak in the U.S. in two weeks, but many states like Virginia and Maryland will see their individual peaks well after that, according to a model by the University of Washington's Institute for Health Metrics and Evaluation.

Go deeperArrowUpdated 2 hours ago - Health

FDA authorizes two-minute antibody testing kit to detect coronavirus

Currently, it takes days to produce results from testing kits. Photo: Sergei Malgavko\TASS via Getty Images

The Food and Drug Administration issued an emergency approval Tuesday for a serological testing kit produced by Bodysphere Inc. that can detect a positive or negative result for COVID-19 in two minutes.

Why it matters: Access to testing has improved in the U.S. thanks to commercial labs, but the average wait time for a patient's results is four to five days — with some reports of it taking more than a week.

Go deeperArrowUpdated 2 hours ago - Health