Stocks could suffer as Trump trade policy takes shape

Traders work on the floor at the opening of the day's trading at the New York Stock Exchange (NYSE) in Manhattan, New York CityThe year-end stocks rally on the heels of the election of Donald Trump as U.S. president was built on expectations of reduced regulations, big tax cuts and a large fiscal stimulus. Now signs are emerging from the Trump camp that harsher trade policies that could jeopardize the honeymoon are likely in the offing, and investors would be well advised to give those prospects more weight when gauging how much further an already pricey market has to run. By naming China hawk Peter Navarro as head of a newly formed White House National Trade Council, the incoming administration is signaling Trump's campaign promises to revisit trade deals and even impose a tax on all imports are very much alive.



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U.N. Security Council denounces Israeli settlements, U.S. abstains

A construction site is seen in the Israeli settlement of Givat Zeev, in the occupied West BankBy Michelle Nichols UNITED NATIONS (Reuters) – The United States on Friday allowed the U.N. Security Council to adopt a resolution demanding an end to Israeli settlements, defying pressure from President-elect Donald Trump, Israel and some U.S. lawmakers who urged Washington to wield its veto. An abstention by the United States paved the way for the 15-member international body to approve the resolution, with 14 votes in favor, prompting applause in the council chamber. "Israel rejects this shameful anti-Israel resolution at the U.N. and will not abide by its terms," the office of Prime Minister Benjamin Netanyahu, who has encouraged the expansion of Jewish settlements in land captured by Israel in a 1967 war with its Arab neighbors, said in a statement.



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