China tariffs, housing and earnings to headline the week ahead

By MarketsFOXBusiness

Trump tells aides to proceed with $200 billion in China tariffs

Wall Street Journal editorial page assistant editor James Freeman and FBN’s Charlie Gasparino on the report that President Trump instructed his aides to proceed with tariffs on $200 billion worth of Chinese goods.

The new week begins with markets mired in another round of tariff threats.

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The Trump administration is expected to announce additional tariffs on as much as $200 billion worth of Chinese goods, according to the Wall Street Journal.

The administration plans to start with tariffs of around 10% on as much as much as $200 billion in Chinese goods, below the 25% level announced in early August.

An announcement could come as early as Monday.

Staying with a similar theme, Trump economic adviser Larry Kudlow will speak at the Economic Club of New York.

Traders will also get a look at data surrounding the strength of manufacturing in the New York area with the Empire Manufacturing report.

Earnings are due in the afternoon from  FedEx and Oracle.

Tuesday’s earnings reports will come from AutoZone, Cracker Barrel and General Mills.

Traders will get the first of this week’s housing-related reports on Wednesday with housing start and building permits.

The next day, the report on existing home sales will be released.

The weekly jobless claims report will be issued along with the Philly Fed report, which contains the latest data on manufacturing in the Mid-Atlantic region.

Darden Restaurants, the parent of Olive Garden and long Horn Steakhouses will report earnings.