, with some Chinese officials concerned the two sides can't secure a broad agreement.
In another signal, China is now prepared to boost annual purchases of U.S. agricultural products like soybeans by more than $3 billion, according to the Financial Times.
This would be on top of additional soybean and pork purchases made last month.
Worried investors in the U.S. and Europe took those as reasons to be optimistic, breaking a three-day losing streak on Wall Street.
But there is still cause for concern.
In retaliation to U.S. visa restrictions announced by the State Department, China is planning to tighten visas for U.S. nationals with ties to anti-China groups, according to sources.
A Chinese Foreign Ministry spokesman tried to downplay the report.
(SOUNDBITE) (Mandarin) CHINESE FOREIGN MINISTRY SPOKESMAN, GENG SHUANG, SAYING: "China has always maintained a positive attitude towards U.S.-China people-to-people relations, we've always welcomed people from the U.S. to come visit China, to enter here and exchange.
In contrast, for some time, America has gone towards some academics, students, and people from industry and tech workers to reject their visa applications, delay or revoke their long-term U.S. visas, interrogate and harass them." And then there is that expanded U.S. trade ban of 28 Chinese companies.
The U.S. blacklisted artificial intelligence start-ups from buying U.S. components, accusing them of helping China commit human rights abuses against minority muslims. Businesses caught between the two warring factions are trying to figure things out.
Goldman Sachs said it was reviewing its role in a planned initial public offering for Chinese tech start-up Megvii Technology.
That company was one of those blacklisted.
Citigroup and JPMorgan Chase are also working on the IPO but declined to comment.
A high-level delegation of Chinese and U.S. officials are scheduled to start negotiations on Thursday.
The United States appears to be getting on China's very last nerve. That is, if the remarks made by China's Ambassador to the United Nations on Thursday truly reflects Beijing's sentiments. According to CNN, at a tense meeting of the UN Security Council, Zhang Jun said Thursday that the US has 'created enough troubles for the world already.' Zhang Jun's comments was a retort to US Representative to the UN Kelly Craft, who accused China of hiding the virus's origin and minimizing its danger.
A protest was organised against China outside the United Nations office in Geneva, Switzerland. The 3-day long demonstration, consisting of a photo exhibition, was organised by a group called the World Uyghur Congress. It was titled 'Made In China = Uyghur Forced Labour'. The protestors accused the Chinese government of forcing the Uyghurs, a Muslim minority group in the country's northwest Xinjiang province, into forced labour and even attempting a genocide. Beijing has allegedly been trying to stamp out the community's religious and cultural identity in order to assimilate it more fully into the majority Han Chinese community. Dolkun Isa, president of the World Uyghur Congress, sought international pressure on China to stop the Uyghurs' persecution and boycott by international companies to prevent forced labour. Watch the full video for more.
Credit: HT Digital Content Duration: 02:14Published
Business Insider reports that US stocks are on course to close lower for a third consecutive week. The S&P 500 has lost nearly 9% since early September's record high. That decline was mainly driven by losses in the technology sector. But Goldman Sachs, Wells Fargo and Deutsche Bank are upbeat the US stock market sell-off is mostly over. Goldman Sachs kept its end-of year S&P 500 target to 3,600 by year end.
Is another bubble about to burst? Goldman Sachs said Wall Street's most popular fear gauge is flashing a warning sign not seen since the bursting of the dot-com bubble in 2000. Typically, when the stock market rises, volatility tends to fade. But Goldman said this pattern has been overturned. The S&P 500 and the VIX index have currently hit record peaks in correlation to each other.
On Thursday, Goldman Sachs said the S&P 500 can hit 3,600 if markets price in the bank's "comparatively more optimistic US GDP forecast." The banks analysts say specific market conditions would yield the growth. The economy contracts by only by 5% in 2020. It would have to grow by 6.2% next year. After that real yields will rise sharply to levels of "cyclical optimism" in June 2021.
On Friday, Goldman Sachs lifted its 2020 S&P 500 earnings-per-share estimate. The move comes after better-than-expected second-quarter results. Business Insider reports that Goldman expects 2020 S&P 500 EPS of $130, from $115. That's about 21% lower than 2019. Goldman also thinks S&P 500 earnings will surge 30%, to $170 per share in 2021. The estimate is tied to Goldman's economic growth outlook.
The United States has revoked visas for more than 1,000 Chinese nationals under a May 29 presidential proclamation to suspend entry from China of students and researchers deemed security risks, a State Department spokeswoman said on Wednesday. Gloria Tso reports.
Britain is planning to host clinical trials where volunteers are deliberately infected with the new coronavirus to test the effectiveness of vaccine candidates, the Financial Times reported on Wednesday, citing people involved in the project. Francis Maguire reports.
The Federal Reserve is targeting above 2% inflation. Scott Minerd, Guggenheim global CIO told Bloomberg on Wednesday it is "virtually impossible" for the Fed to achieve that without creating a bubble in asset prices. "The reality is that the inefficiencies that are building up in the system." Minerd said misinformation and mistaken investments will pose a challenge to investors.
In order to give its employees a major sense of relief, Apple has decided to design its own face masks and the company will distribute it to its retail and corporate employees. Most of the employees of Apple wear masks on the job as a precautionary measure against the coronavirus, and as a result, Apple has decided to come up with its own masks, Mashable cited a Bloomberg report. As per this report, Apple is providing two face masks to each of its employees. One mask is called "ClearMask" and it has been sourced from other companies. The other mask is known as "Apple Face Mask" has been created by Apple's Engineering and Industrial Design teams. This particular mask has up to three layers that filter incoming and outgoing particles, and it can be washed and reused up to five times," Mashable cited a Bloomberg report. The company will now start sending Apple Face Masks to its employees over the next two weeks.
ByteDance is likely to miss the deadline imposed by the Trump administration for the sale of TikTok's U.S. assets as new Chinese regulations have complicated deal talks, Bloomberg reported on Thursday. Ciara Lee reports
Wall Street lost ground on Thursday as data showed midwest manufacturing falling into a deeper slump and concerns about the U.S.-China trade war truce rattled investors. Conway G. Gittens wraps up the..