- In today's CEO daily: Diane Brady on the atmosphere of the Milken conference.
- The big story: Trade discussions between the United States and China have been scheduled.
- Markets:Asia is increasing but the Western markets are decreasing.
- Analyst notes From Wedbush on the film tax, Ark invests in SpaceX, Oxford Economics on Services and Macquarie on China.
- More: All the news and the cool water-cool of Fortune.
Good morning. The atmosphere of the Milken Institute's annual world conference was surprisingly emotional this year. There was a founder Michael Milken opening addressOnly his third since the rally began in 1998. He spoke of investing in children, partnerships and the American dream. I moderated a conversation on creativity, innovation and luxury In which I saw the architect / designer Thomas Heatherwick move at least one member of the public to tears with his discussion on the space centered on man while warming up a little by the praise of the pioneer of the Ian Schrager hotel. In another Conversation with investors and directors of the Middle EastI was struck by the desire of panelists to invest in their own region and people.
Outside stage, many told me about stress and the challenge of navigating this environment. There is the business manager whose overseas sellers have interrupted production until they are clarity on pricing policy: “In terms of supply, this could be our worst holiday season.” A fund manager is so angry with his Alma Mater Ivy League that he could skip the graduation ceremony from a nephew. A philanthropist has seen his work collapse while a partner in the public sector has reduced. Some delegates for the first time have been inspired by models of donations which they now hope to reproduce at home.
Meanwhile, the last ships filled with goods without a price pulled in the port of Los Angeles, the wearing of containers most frequented in North America. The prices now cause a spectacular dive in activity in American ports. Yesterday when Trump came out of a meeting with Canadian Prime Minister Mark Carney, saying that his administration “did not have to sign agreements”, actions plunged. Someone somewhere among this group of financiers could have decided that it was the right time to buy.
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This story was initially presented on Fortune.com
