Plus, Trump said Iran was responsible for an attack on the U.S. embassy in Iraq and said that he plans to sign the “phase one” trade deal with China on January 15.
Stocks were down slightly to start the last day of the year with the Dow trading 36 points, or 0.1%, lower. The S&P 500 slipped 0.1%, while the Nasdaq was trading just below the flatline.
President Donald Trump said this morning that Iran was responsible for an attack on the U.S. Embassy in Iraq. “Iran killed an American contractor, wounding many. We strongly responded, and always will,” Trump tweeted. “Now Iran is orchestrating an attack on the U.S. Embassy in Iraq. They will be held fully responsible.” The attack on the Embassy followed deadly airstrikes by the U.S. over the weekend that killed 25 fighters of the Iran-backed militia in Iraq that was responsible for last week’s killing of an American contractor at an Iraqi military base. White House Press Secretary Stephanie Grisham said in a statement, “The President is in close touch with his national security team and is receiving regular updates. As the President said, Iran is orchestrating this attack and they will be held fully responsible. It will be the President’s choice how and when we respond to their escalation.”
Trump also said this morning that he plans to sign the “phase one” trade deal with China at the White House on January 15 following reports from yesterday that Chinese Vice Premier Liu He, China’s top negotiator, would be heading to the U.S. early next month to sign the deal. “I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15,” Trump said on twitter. “The ceremony will take place at the White House. High level representatives of China will be present. At a later date I will be going to Beijing where talks will begin on Phase Two!”
The New York Times published a report that sheds new light on the key figures and events in the Trump administration’s withholding of aid to Ukraine, which is at the center of the impeachment proceedings in Congress against President Trump. The report was constructed from interviews with dozens of officials and previously unreleased documents and probes Trump’s insistence at the time that the aid be withheld as he sought investigations by Ukraine into former Vice President Joe Biden and his son, Hunter, who served on the board of a Ukrainian energy company while his father served under President Barack Obama.
Ousted Nissan Chairman Carlos Ghosn, who has been awaiting trial on criminal charges in Japan, confirmed today that he has escaped the country and fled to Lebanon. “I am now in Lebanon and will no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied, in flagrant disregard of Japan’s legal obligations under international law and treaties it is bound to uphold,” Ghosn said in a statement. “I have not fled justice – I have escaped injustice and political persecution. I can now finally communicate freely with the media, and look forward to starting next week.” Ghosn was ousted from Nissan and arrested a little over a year ago after Hiroto Saikawa, Nissan’s CEO at the time, accused him and another executive of several financial crimes, including the concealment of more than $327 million in payments to themselves and other executives.
Stocks We’re Watching
Nio Inc (NYSE: NIO): Nio shares surged 101% yesterday and are up another 14% today following the China-based electric car maker reporting a Q3 loss that narrowed more than expected as revenue rose 25% and vehicle deliveries jumped 35% from the prior quarter. “The electric vehicle sector experienced substantial softness in the second half of 2019 after the reduction of EV subsidies in China,” said CEO William Bin Li. “Despite the challenges, NIO’s sales improved solidly since September.” CFO Wei Feng added, “Facing a continuous soft auto market, we strongly believe the smart premium EV sector will outperform the industry in its growth rate in the foreseeable future.”