Xi Jinping frames China as free trade champion at Davos
Xi urges openness and warns against protectionism at the World Economic Forum in Davos. He stresses that no one wins a trade war, defends China’s currency stance, and calls climate accords a hard won achievement while noting U.S. scrutiny over market access and foreign investments.
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Davos
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Abraham Lincoln
Wall Street slides as banks drag down market pace
The Dow falls 58.96 points to 19,826.77 amid a 2.3 percent drop in bank shares while the S&P 500 and Nasdaq retreat. Bond yields slide, pressuring financials despite Morgan Stanley earnings. Kept afloat by gains in consumer stocks and utilities as dividend stocks attract income investors.
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Wal-Mart frames slower store openings as growth plan
Wal-Mart plans 59 openings expansions or relocations this year, creating about 10,000 U.S. jobs. The move, smaller than prior years, aims to show job growth ahead of President elect Trump’s inauguration. Shares rose 3.2 percent to 69.29 on the news.
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New York
Wal-Mart
Sam’s Club
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GM pledges major U S investment and jobs in plants
GM announced a $1 billion investment at several U S plants and plans to bring thousands of IT jobs back from overseas, creating about 7,000 new manufacturing and IT positions in the United States. The move is said to be planned for some time, not a direct response to President-elect Trump. This comes on top of $2.9 billion invested in 2016.
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Microsoft
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