Trump's trade war puts animal spirits on endangered list
![The S&P 500 trades at 16.6 times the next four quarters of expected earnings, down from 16.8 in early November 2016. ...](http://web.archive.org./web/20190515195340/https://www.afr.com/content/dam/images/g/q/2/0/i/5/image.related.afrIndexLead.320x210.p51ntw.png/1557948886097.jpg)
The S&P; 500 is now 1.2 per cent cheaper, based on expected earnings, than it was before Trump was elected president, and that is even after Tuesday's rally.
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The S&P; 500 is now 1.2 per cent cheaper, based on expected earnings, than it was before Trump was elected president, and that is even after Tuesday's rally.
As the US-China tariff battle escalates, Apple's option include lifting prices on its products or taking a hit on their profitability.
Withdrawals from trading platforms including Bitfinex, BitMEX, Binance and Kraken have exceeded inflows by about $900 million over the past five days.
Australian shares are poised to open higher as investors await April's labour force data.
Global fund managers are looking at the local tech sector as investors exit their positions in the major US technology names, rattled by trade war concerns.Â
Australian shares closed firmly higher on Wednesday after comments from US President Donald Trump soothed investors.
Asian investors' appetite for lower-rated bonds is setting the stage for pain should the market turn.
S&P;/ASX 200 closes 0.7 per cent higher at 6284.2 as expectations rise of economic stimulus in China.
OPEC said world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows.
The US economy appears to be expanding based "exclusively" on government, corporate and mortgage debt, DoubleLine's Jeffrey Gundlach said.
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