Written by Gary
US stock indexes opened higher this morning (SPY +0.5%) on optimism after President Trump predicted a swift end to the tariff war.
Here is the current market situation from CNN Money | |
 | European markets are higher today with shares in France leading the region. The CAC 40 is up 0.94% while London’s FTSE 100 is up 0.89% and Germany’s DAX is up 0.83%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Wall Street set for modest gains at open after previous day’s sell-offU.S. stocks were set to open modestly higher on Friday after a sell-off, on cautious optimism after President Donald Trump predicted a swift end to the tariff war with China and a resolution to complaints against Huawei Technologies Co Ltd. |
| U.S. regulator sees approval of Boeing 737 MAX to fly as soon as late June: sourcesThe Federal Aviation Administration (FAA) expects to approve Boeing Co’s 737 MAX jet to return to service as soon as late June, representatives of the U.S. air regulator informed members of the United Nations’ aviation agency in a private briefing on Thursday, sources told Reuters. |
| Trump says ‘dangerous’ Huawei could be included in U.S.-China trade dealPresident Donald Trump said on Thursday U.S. complaints against Huawei Technologies Co Ltd might be resolved within the framework of a U.S.-China trade deal, while at the same time calling the Chinese telecommunications giant “very dangerous.” |
| Huawei shipments could fall by up to a quarter this year: analystsChina’s Huawei, hit by crippling U.S. sanctions, could see shipments decline by as much as a quarter this year and faces the possibility that its smartphones will disappear from international markets, analysts said. |
| Oil rises towards $69 but set for 2019’s biggest weekly lossOil rose towards $69 a barrel on Friday after two sessions of losses, but remained on track for its biggest weekly drop this year due to rising inventories and concerns about an economic slowdown. |
| Nestle still committed to global confectionery: CEONestle remains committed to confectionery despite unloading its U.S. chocolate operations during a review of the food giant’s operations, Chief Executive Mark Schneider told an event in Switzerland on Friday. |
| Global stocks climb on muted trade hopes, sterling yo-yos as PM May quitsWorld stocks edged higher on Friday and oil prices bounced after comments by President Donald Trump encouraged hopes of progress in U.S.-China trade talks while British Prime Minister Theresa May’s resignation briefly sent sterling fluctuating wildly. |
| China denounces U.S. ‘rumors’ and ‘lies’ about Huawei ties to BeijingChina on Friday denounced U.S. Secretary of State Mike Pompeo for fabricating rumors after he said the chief executive of China’s Huawei Technologies Co Ltd was lying about his company’s ties to the Beijing government. |
| Foreign investors hope India dials back policy shocks after Modi winForeign companies in India have welcomed Prime Minister Narendra Modi’s election victory for the political stability it brings, but now they need to see him soften a protectionist stance adopted in the past year. |
| China’s Largest Chipmaker De-Lists From NYSEIt’s only 9 am in New York but Friday’s session has already featured a frantic flurry of trade-war-related headlines that have – at least in the market’s view – overshadowed Theresa May’s tearful announcement that she will be stepping down as PM. |
| India Answers Pakistan’s Missile Test With Daring Raid On “Most Wanted Militant” In KashmirAfter a couple months of uneasy calm following the late February crisis over Kashmir involving two down Indian jets which allegedly entered Pakistani-administered territory to raid a “terror compound” it appears the long disputed border region is heating up again. And this a day after Pakistan on Thursday decided to use the moment of Indian Prime Minister Narendra Modi’s landslide victory to a second 5-year term in the world’s largest general election to test fire a ballistic missile with a reported 1,500 kilometer range. It appears India has hit back in its own symbolic way, signalling it will stick by its pledge to root out jihadist militants in Kashmir, which New Delhi has long charged Pakistan with harboring and supporting. Early Friday India announced its forces raided the home of a top al-Qaeda commander in southern Kashmir the night before, sparking widespread anti-India protests in the Muslim-majority region. |
| Here Are The Key Levels To Watch In The Market Right NowAuthored by Jesse Colombo via RealInvestmentAdvice.com, Market volatility has reared its ugly head once again in recent weeks as the trade war with China took a turn for the worse and global economic data continues to weaken. On Thursday, the Dow lost 286.14 points, or 1.1%, the S&P 500 fell 34.03 points, or 1.2%, and the Nasdaq Composite dropped 122.56 points, or 1.6%. From a technical perspective, the S&P 500 is sitting just above a key support level at 2,800. The S&P 500 has bumped its head or bounced off of this levels quite a few times since early-2018. If the S&P 500 closes below 2,800 in a decisive manner, it would increase the likelihood of further downside. |
| Boris Johnson Leads UK PM Polls, Says “Prepare For No Deal”Now that Theresa May has confirmed that she will step down as prime minister on June 7 during a tearful resignation speech, investors, politics junkies and inveterate gamblers are all eagerly placing bets on who will win the upcoming Tory leadership contest and become the next to occupy No. 10. |
| The $1.4 tn roadblock that Modi will face in his 2nd termThe $1.4 tn roadblock that Modi will face in his 2nd termAccess to land remains the single biggest issue for why road & construction projects stall. |
| Advice to Modi from the man who left his teamAdvice to Modi from the man who left his teamWhat the second Narendra Modi government can do is to put in place employment-friendly policies. |
| How Modi 2.0 is likely to impact your moneyHow Modi 2.0 is likely to impact your moneyHere are 8 ways in which Narendra Modi’s second term in power can impact your finances. |
| Headline Durable Goods New Orders Declined in April 2019. Inflation Adjusted New Orders Are In Contraction.Written by Steven Hansen The headlines say the durable goods new orders declined. Our analysis shows the rolling averages continued its decline.
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| Rail Week Ending 18 May 2019: Intuitive Sectors Improve But Remain In ContractionWritten by Steven Hansen Week 20 of 2019 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors rolling averages remain in contraction – but improved.
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| Market Snapshot: Stocks rise on signs Trump administration could soften Huawei stanceStocks are on the rise Friday after the Trump administration said could back off a harsher stance on Huawei Technologies Inc. as part of a bigger trade deal with China. |
| Need to Know: Amazon will hit $3,000, says Piper Jaffray, making Buffett look smartOur call of the day, from analysts at Piper Jaffray takes a holiday from the trade headlines to make a prediction about Amazon shares. They say get ready for a 65% move higher. |
| Weekend Sip: Americans are getting too lazy to mix their own cocktailsThis brand offers ready-made cocktails in shot form, but are they any good? |
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