China Trade Overhang Weighs on Dow as Hong Kong Protestors Disrupt Air Travel
The Dow Jones Industrial Average will face headwinds Monday following a note published by Goldman Sachs over the weekend saying that the U.S.-China trade war could last until after the U.S. presidential election in 2020.
The firm also said that its fear that the trade war will lead to a recession is growing.
Speaking of China, protesters in Hong Kong forced Hong Kong International airport to cancel flights due to disruption caused by demonstrators.
Residents of the financial hub are protesting a new law that would allow for the extradition of residents to mainland China.
The protests have been ongoing for about two months, and have grown increasingly violent despite a police crackdown.
Finally, Viacom and CBS Corp are expected to come to a merger agreement as soon as Monday, leading CBS shares higher as Viacom shares decline.
The two media companies were once part of the same entity.
Shari Redstone, a veteran of both companies, is expected to be the chairperson for the combined group, with Viacom CEO Bob Bakish expected to become the CEO for both companies.
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