This is What You Need to Know on Thursday

What You Need to Know on Thursday

Author:: Edward Hardy
Publish date:: Jul 13, 2017 3:37 AM EDT

This is what you need to know on Thursday:

1. European stocks turn red following a global financial market rally sparked by dovish testimony to U.S. lawmakers from Federal Reserve Chairwoman Janet Yellen.

2. China's trade surplus with the United States has risen to the highest level in nearly two years, data from the country's customs office indicated Thursday, illustrating the challenge President Donald Trump faces in his ambition to equalize business activity between the world's two biggest economies.

3. Taiwan Semiconductor Manufacturing Co. (TSM) - Get Report , a key supplier to tech giant Apple Inc. , posted weaker-than-expected second quarter earnings Thursday and softer third quarter guidance amid signs that smartphone chip demand could be slowing.

4. Global oil prices continued their volatile ride overnight, with prices pulling back after data from OPEC's regular monthly oil report lowered its forecast for worldwide demand its supply next year to around 32.2 million barrels per day.

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