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Dow panic, then softened because Chinese tensions subsided

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Dow panic, then softened because Chinese tensions subsided

US stocks heaved a sigh of relief on Friday after President Trump’s tough talks against China did not include the announcement of new tariffs.

The Dow Jones industrial average fell by 368.97 points, or 1.4 percent, to 25,031.67 ahead of Trump 2 p.m. news conference. The index closed down just 17.53 points, at 25383.11, fell 0.07.

The S&P 500 rose 14.58 points, to 3,044.31, up 0.48 percent, while the Nasdaq was the biggest movers of the day, jumping 120.88 points, or 1.29 percent, to close at 9489.87.

Trump’s announcement is expected to add heat to the boiling battle between the world’s two largest economies and throwing cold water at the recent stock market rally. Instead, Trump announced that the US would no longer fund the World Health Organization and would eliminate Hong Kong’s special relationship status after Beijing intensified attacks on the city.

The two steps were grilled because Trump had threatened WHO for months and Foreign Minister Mike Pompeo earlier this week decided that Hong Kong no longer had sufficient autonomy from China.

“The world needs an answer from China about the virus. We must have transparency. Why did China close infected people from Wuhan to all other parts of China? “Said Trump from the White House Rose Garden.

“There is fear that it will lead to increased tensions between the US and China,” said Quincy Krosby, chief market strategist for Prudential Financial. “The concern is that this could lead to the sudden closure of phase-one trade agreements.”

The fear was not realized on Friday.

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“That was partly a relief rally,” said Lindsey Bell, chief investment strategist for Ally Invest. “The market expects something far worse related to trade deals but not much can be chewed in the end. It’s just a big drop for people to buy it.”

Wall Street has made a comeback from accidents caused by coronaviruses over the past two months when countries began to ease lockouts aimed at controlling a pandemic. The S&P closed Thursday at only 10.7 percent below the all-time high reached in February.

Now markets have ignored the possibility of a trade war reignited with China when the country reopened from a pandemic, analysts expect more green days in the future.

“Investor optimism returned after a week in which some economic data became less dire,” Bell said.

With Post cable

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Portuguese rider Miguel Oliveira in 16th place after the first free practice in Assen – DNOTICIAS.PT

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Portuguese rider Miguel Oliveira in 16th place after the first free practice in Assen – DNOTICIAS.PT

Portuguese rider Miguel Oliveira (KTM) finished the first two free practices of the MotoGP Grand Prix in Assen in 16th place.

Oliveira finished the day with a time of 1.34.676 minutes, 1.402 seconds behind the best rider of the day, Italy’s Francesco Banagia (Ducati). Spaniard Aleix Espargaro (April) was second with 0.178 seconds and French champion Fabio Quartararo (Yamaha) was third with 0.305 seconds.

After the first session in the rain, in which the rider from Almada was sixth fastest, the rain stopped before the start of the second session.

The riders started with intermediate tires, but as the track in Assen in the Netherlands, considered the “cathedral” of motorsport, dried up, they installed dry tires (slicks).

Under these conditions, Miguel Oliveira was losing ground in the table, ending the day in 16th place, despite an improvement of about nine seconds from the morning’s record, in rain, in which Australian Jack Miller (Ducati) was the fastest. , fifth in the afternoon.

On Saturday there will be two more free practices and qualifications.

The 10 fastest in the set of the first three sessions go directly to the second stage of qualification (Q2), and the remaining 14 “brawl” in Q1, resulting in the two fastest qualifying to the next stage.

Fabio Quartararo enters this 11th round of the season leading the championship with 172 points, while Miguel Oliveira is in 10th place with 64 points.

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Portuguese MNEs defend that Mercosur is a “natural partner” of the European Union at the moment – Observer

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Portuguese MNEs defend that Mercosur is a "natural partner" of the European Union at the moment - Observer

This Thursday, Portugal’s foreign minister said that at a time when the European Union (EU) seeks to diversify suppliers and markets, MERCOSUR is a natural partner whose importance cannot be “underestimated”.

For Portugal, “the current delicate context makes us appreciate even more the mutual advantages of the Agreement between the EU and MERCOSUR,” João Gomes Cravinho said, without directly referring to the conflict between Russia and Ukraine.

“At a time when the EU is seeking to diversify suppliers and markets in order to ensure greater strategic autonomy, MERCOSUR is a natural partner, whose importance we cannot underestimate“, the minister added at a conference entitled “Brazil and Portugal: perspectives for the future”, which takes place from Thursday to Friday at the Gulbenkian Foundation in Lisbon.

The Southern Common Market (MERCOSUR) is a South American economic bloc created in 1991, whose founding members are Brazil, Argentina, Paraguay and Uruguay.

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But still, within the framework of the European Union, Joao Gomes Cravinho believed that EU strategic partnership with Brazil left ‘untapped’.

The Minister stressed that in the context of the EU, Portugal “always knew how to use its position in favor of strengthening relations with Brazil.”

Therefore, it was during the Portuguese presidency, in 2007, that a “strategic partnership with Brazil” was established, he stressed.

However, according to the head of Portuguese diplomacy, this is “a partnership that has clearly not been used for a variety of reasons and which still retains the ability to position Brazil as Europe’s great interlocutor for South America.”

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With regard to bilateral relations between the two countries, the minister emphasized that “in this context of global turmoil, the wisdom of the central characteristic common to the foreign policy of Brazil and Portugal, which is active participation in many multilateral structures, in recognition of the indispensability of multilateralism, international cooperation and global rules based order.

Portugal meets with Brazil in all areas of Portuguese foreign policy. We are Atlantic, we are Ibero-American and Portuguese-speaking,” he said.

In the Atlantic dimension, “Portugal and Brazil are united by an ocean, which we recognize as growing in importance in the context of new, complex and truly existential issues,” he said.

According to João Gomes Cravinho, “Some of these problems can be answered in the Atlantic Center, co-founded by Portugal and Brazil”, and “the other part of the huge ocean problems will be addressed in detail at the great Summit.” Oceans”, which will be held in Lisbon next week.

“In any of the areas, new prospects are opening up for Portuguese-Brazilian relations,” he stressed.

With regard to Ibero-America, the minister believes that Portugal and Brazil share “an enormous strategic space with the Castilian-speaking countries, where a joint Portuguese-Brazilian reflection is undoubtedly recommended on the potential to exploit opportunities and create synergies”.

“Value of CPLP [Comunidade de Países de Língua Portuguesa] is gaining more and more recognition at the international level – and the evidence of this is the growing number of states that become associate observers” of the organization, he believes.

“Because they want to engage with us and reinforce the value of the linguistic, cultural and historical ties that unify lusophony and create a unique dynamic for relationships with third parties,” he stressed.

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But even at this level, he argued that there was an urgent need to find a “convergence of visions and desires” that “allows us to enhance” our “separate realities.”

The minister also mentioned that “despite the break caused by the pandemic”, Portugal has a “real air bridge” with Brazil, consisting of more than 74 weekly TAP flights, which is a cause and effect of “a dynamic that is being updated and reinvented”. relations between the two countries.

This dynamic, according to Gomes Cravinho, is also reflected in economic and commercial relations.

Thus, “Brazil is the first Latin American export market for Portuguese merchandise and is already the fourth largest merchandise export destination (outside the EU).

“However, the conviction remains that the potential is far from being realized, and that nostalgia for the future entails a vision of a different profile of our exchanges, a technological, creative profile that corresponds to global geo-economic transformations,” he defended. .

At this stage, João Gomes Cravinho also underlined the potential of the port of Sines, “whose strategic importance, which has long been noted, takes on new importance in the troubled times that we are going through.”

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A cycle of Portuguese cinema will be held in New York from Friday.

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A cycle of Portuguese cinema will be held in New York from Friday.

Dand from June 24 to 30, an event called “New Stories from Portuguese Cinema” will present the perspectives of a new generation of filmmakers “whose films embody the artistic, social and political reflections that mark the 21st century,” according to the organization in a statement.

Balad o batrachio by Leonor Teles, Amor, Avenidas Novas by Duarte Coimbra and O Cordeiro de Deus by David Pinheiro Vicente are three of the 20 films that are part of this cinematic cycle.

Pedro Cabeleira, Laura Carreira, Susana Nobre, Joao Rosas, Tomas Paula Marquez, Catarina de Souza and Nick Tyson, Maya Cosa and Sergio da Costa, Christel Alves Meira, Paulo Carneiro, Pedro Peralta, Diogo Salgado, Catarina Vasconcelos and Aya Korezli other directors integrated into this movie cycle.

In addition to FLAD, this event is also the result of a partnership with New York-based Anthology Film Archives, an iconic venue for independent and experimental filmmaking, hosting a Portuguese film cycle featuring Francisco Valente.

“Anthology Film Archives has been a reference space for over 50 years. It seemed to us ideal to promote the works of these directors, emphasizing their uniqueness and quality. We believe that Portuguese cinema can gain more space in the United States and we want to do our part to internationalize it,” said FLAD President Rita Faden.

Francisco Valente, guest programmer, explained that the 18 selected directors are distinguished by “their unwavering commitment to using the screen to express their personal freedom, reflect their racial and gender identity, and develop narratives that comment on and expand our reality.” – in Portugal, in the United States, or in that beautiful and imaginary country called cinema.

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This connection between Portugal and the United States of America is also expressed in the documentary “In the Footsteps of Utopia”, based on the testimonies of “weird” teenagers from Queens, filmed by Catarina de Souza and Nick Tyson, who will come to New York to find out their joint production, which closes this cycle.

The program of the cycle is available in the Screenings section of the Anthology Film Archives “website” (anthologyfilmarchives.org) and on the FLAD “website” (https://www.flad.pt/wp-content). /uploads/2022/02/new_tales_final_bx.pdf).

See also: Michael J. Fox received a humanitarian “Oscar”, and Diane Warren – an honorary “Oscar”.

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