Coca Cola (NYSE:KO)
Historical Stock Chart
3 Months : From May 2018 to Aug 2018
Soybean Futures Fall to 9-Month Low on Trade Fears
Soybean futures fell to the lowest close in nine months as traders bet tensions between the U.S. and China were due to flare up.
July-dated contracts fell 1.9% to $9.36 a bushel at the Chicago Board of Trade on Wednesday, hitting the lowest close since late August.
July-dated wheat futures fell 3.4% to $5.16 1/2 a bushel, while corn contracts for delivery the same month slid 0.4% to $3.76 a bushel.
Tariffs Further Pinch Consumer-Staple Stocks -- Update
Escalating trade tensions have made times even harder for shares of companies that provide everyday goods.
Already struggling with pricing pressures and sluggish growth, the fortunes of consumer-staple companies in the S&P 500 were further shaken after Canada, Mexico and the European Union retaliated against the U.S.'s imposition of tariffs on steel and aluminum imports.
Canadian Prime Minister Justin Trudeau pledged to impose billions of dollars of tariffs on steel, aluminum and other U.S. goods, such as food and agricultural products. Mexico's Economy Ministry is targeting lamps, berries, grapes, apples, cold cuts, pork chops and cheese products, among other goods the U.S. produces and sends there. The EU will start imposing EUR2.8 billion worth of tariffs in July, including 25% levies on peanut butter, orange juice and cranberries, among other goods.
STORIES OF INTEREST:
Coca-Cola Warns of Currency Impact on 2Q, 2018 Revenue
Coca-Cola Co. (KO) on Wednesday warned that currency impacts could reduce second-quarter and full-year comparable revenue by up to 1%, but the beverage giant affirmed its 2018 earnings guidance.
The Atlanta-based company in April had said it expected a 1% boost to revenue from currency in the second quarter and full year. Coca-Cola now expects a negative impact of 0% to 1%.
Trade-Sensitive Stocks Slide on Tariff Report -- Market Talk
15:46 ET - Shares of companies that investors believe are vulnerable to tightening trade policies are sliding as a report suggests the Trump administration could levy tariffs on tens of billions of dollars of Chinese goods in the coming week. Senior trade officials have agreed that the U.S. should move forward with the tariffs, people briefed on the talks told WSJ. Investors and analysts have worried the moves could trigger retaliatory trade measures that crimp profits at U.S. firms. Farm-machinery maker Deere off 2.9%, while Boeing down 1.6% and Caterpillar off 1.7%. Polaris, which relies on steel and aluminum to make off-road vehicles, was down 0.6%. (firstname.lastname@example.org)
Hog Futures Rally on Improving Supply-Demand Outlook -- Market Talk
15:09 ET - Hog futures continued a recent rally sparked by tighter supplies and solid demand. Meatpackers have paid more for pigs to slaughter in recent days, with average prices rising $1.27 to $79.17 per 100 pounds on Tuesday. The rally has been helped by falling hog weights, Midwest Market Solutions says, prompting a seasonally tight patch that has given producers more leverage to raise their asking prices. Wholesale pork prices, meanwhile, have also recently risen. All that has futures traders betting the hog market has higher to go. CME June lean hog contracts rose 0.6% to 81c a pound. June-dated cattle futures fell 0.6% to $.107925 a pound. (email@example.com; @b_parkyn)
(END) Dow Jones Newswires
June 13, 2018 17:50 ET (21:50 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.