Market News and Commentary July 3

Trump Will Release SPR Oil Reserves. U.S. households lose as gas prices rise. Oil tops $75 for first time since 2014 and then plunges. U.S. moves to keep China Mobile out. China’s June export growth to U.S. slows sharply – China customs. China trade worries depress Asian markets. A shouting Elon Musk and changing rules: Inside Telsa’s Model 3 sprint. Mall vacancies at highest point since 2012. Trump doesn’t care what people think about his relationship with Putin. Escalating trade war starts to make economic impact. Trump moves to block China Mobile’s U.S. entry, citing security concerns. BP begins gas delivery from $28bn Shah Deniz 2 project in Azerbaijan. China expected to cancel 1.1 million tonnes of soybeans from the U.S. as new tariff bites. China’s yuan continues to fall, sparking comparisons to 2015 rout. Manhattan real estate has worst second quarter since financial crisis.

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