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5 things to know before the stock market opens on Friday

運営事務局 JIMOPLE 20 August 7, 2020

President Donald Trump signed executive orders Thursday night banning U.S. companies from doing business with Tencent and ByteDance, respective parent companies of WeChat and TikTok. The ban will take effect in 45 days. "The United States must take aggressive action against the owners of TikTok to protect our national security," Trump said in one executive order. In the other order, Trump said WeChat "automatically captures vast swaths of information from its users. This data collection threatens to allow the Chinese Communist Party access to Americans' personal and proprietary information." Tencent's Hong Kong-listed shares dropped 5% over night.

US President Donald Trump speaks to the press in the Brady Briefing Room of the White House in Washington, DC, on July 28, 2020.
Dara Khosrowshahi, CEO of Uber, appears on CNBC's Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan,. 22nd, 2020.
Democratic presidential hopeful Vermont Senator Bernie Sanders participates in the 11th Democratic Party 2020 presidential debate in a CNN Washington Bureau studio in Washington, DC on March 15, 2020.

China reported a 7.2% increase in exports thanks in large part to strong demand for medical supplies due to the coronavirus pandemic. Economists polled by Reuters expected exports to fall by 0.2%. However, Martin Rasmussen of Capital Economics said the upside to Chinese exports growth may be bounded by limited demand for pandemic-related products.

Excavators are concentrated on the wharf for export. Lianyungang, Jiangsu Province, China, May 5, 2020.