Market News 2-4

(Bloomberg) The prospect of a trade war intensified after China urged trade talks with the U.S. while saying that previously announced retaliatory measures on American imports took effect on Monday. The U.S. didn’t respond to China’s March 26 request for consultation on Washington’s steel and aluminum duties, according to China’s Commerce Ministry. Beyond the actions on metals, the Trump administration is preparing a proposal of other Chinese products to be targeted with tariffs and has until April 6 to release the list. In other trade-war news, President Donald Trump threatened to pull out of the North American Free Trade Agreement if Mexico doesn’t stop people and drugs from flowing into the U.S. from Central America.

(WSJ) Earnings forecasts may be too optimistic – Q1 earnings will be strong thanks to tax but analysts are too optimistic in assuming this solid trend will last throughout the year. Companies will likely be forced to divert more of the tax dividend to things like compensation and capital spending than anticipated. 
(WSJ) Trump’s economy – researchers are finding that economic policy uncertainty has increased so far under Trump vs. Obama.
(Reuters) Bahrain said on Sunday it had discovered the country’s largest oilfield in decades, located off the west coast of the kingdom, according to state news agency BNA.The new tight oil and deep gas resource is expected to contain many times the amount of oil produced by Bahrain’s existing oilfields, as well as large amounts of gas, BNA reported.
(London Telegraph) An EY survey of initial public offerings suggests London will remain a leading financial hub after the UK leaves the EU. London has seen 16 flotations this year, lower in number but higher in value compared with the first quarter of 2017, confirming “London continues to hold its position as a global financial center despite political uncertainty,” according to EY.

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