5 Important Developments Affecting the Markets - Janet Yellen And Liu He

5 important developments affecting the markets on Tuesday, October 26; Tesla's (NASDAQ:TSLA) market cap reached $1 trillion after signing a key contract with leasing firm Hertz Global Holdings (OTC:HTZZ). Facebook (NASDAQ:FB) moderated the impact of slowing revenue growth with a large increase in its buyback program. General Electric (NYSE:GE) and UPS take the pre-opening earnings ball as Microsoft (NASDAQ:MSFT) and Google (NASDAQ:GOOGL) prepare to report earnings after the close. Janet Yellen and Liu He are struggling to move forward on business matters, and the American Petroleum Institute is revising its forecasts for US crude inventories as prices approach seven-year highs.

4. Talks Between Janet Yellen and Liu He

Treasury Secretary Yellen and China's top trade negotiator Liu He spoke by phone, but failed to make any significant headway in the ongoing conflict between the US and China. Liu expressed concern about the ongoing sanctions on Chinese exports to the United States, imposed by President Joe Biden's predecessor, Donald Trump, the Chinese trade ministry said in a statement. While consumer spending shifted from services to goods during the pandemic, the sanctions did not prevent US imports from China from rising to record levels. Elsewhere in China, another real estate firm, Modern Land, defaulted on an international bond due to "unexpected liquidity difficulties" and hit Chinese property shares. Debt-laden China Evergrande (OTC:EGRNY), which escaped official default last week, will face another big payment date on Friday.     Source: Investing.com You may also be interested in: 5 Important Developments Affecting the Markets - Microsoft And Alphabet