November 7, 2019 7:45am
China and the U.S. are on the brink of a trade deal
Optimism could/should drive “our” universe skyward with momentum injection
Earnings central: a few more to add to the downdrafts
My version of the morning’s numbers is written to be informative than just about changes to fundamentals; it’s what happened or will beyond the headline and what could happen to the future
sk yourself, do you know why you own it? What are the catalysts? What's the pipeline look like? Do you understand the CEO's vision and how many different “fallbacks” it has; so if one goes wrong it's not the end of the world?
Dow futures are UP +0.47% (+130 points), S&P futures are UP +0.36% (+11 points) and NASDAQ futures are +0.44% (+36 points)
U.S. stock index futures turned sharply higher Thursday morning, after China said the world’s two largest economies had agreed to remove existing trade tariffs;
European shares traded higher, having touched a four-year high early in the session after China said the world’s two largest economies had agreed to cancel additional tariffs imposed in their months-long trade war;
Asia Pacific stocks were mixed amid reports of a potential delay in the signing of a U.S.-China trade deal. The meeting between Trump and Xi could be pushed back as the two sides still need to decide on the terms and a venue, a senior administration official told CNBC. Reuters first reported the meeting postponement.
Data Docket: weekly jobless claims numbers will be released at 8:30 a.m. ET, and consumer credit figures for September are due to be published later in the session.
Will the sky open for the oversold to ascend?
Gao Feng, a ministry spokesperson for China’s Commerce Ministry, said that both sides had agreed to simultaneously cancel some existing tariffs on one another’s goods, according to the country’s state broadcaster. The ministry spokesperson said that both sides were closer to a so-called “phase one” trade agreement following constructive negotiations over the past two weeks <CNBC>.
One important condition for a limited trade agreement, Feng insisted, was that the U.S. and China must remove the same amount of charges at the same time.
Wednesday night’s newsletter heading: “Framing the main takeaway … pricing, volume and volatility!; which company should investors put, keep and commit their money? Worry about losing money, not making money," I say. You cut out the heavy losses and the winners take care of themselves
- The NASDAQ closed DOWN -24.05 points (-0.29%);
- The IBB closed down -1.21% while the XBI closed down -1.42%;
- The close was negative with an A/D line of 13/27, 2 flats, 1 reversed merged (HSGX) and 2 acquired;
- The range of the 13 upside was +0.25% (BMRN) to +7.31% (KOOL) while the 27 downside ranged from -0.07% (ONCE) to -16.94% (CUR);
- 8 out of the 13 upside had higher than the 3 month average volume;
- 8 out of the 27 downside had higher than the 3 month average volume;
- November opened with 2 positive and 2 negative close
- October registered 10 positive, 1 neutral and 14 negative closes
- September, there were 1 holiday, 11 negative, 7 positive and 2 non reported sessions;
Companies in my headlights – It’s your decision; I provide an idea and context:
*** I can’t change my “tune” … be mindful of upcoming quarterly results and their effect upon share pricing … BUY and get trampled in the coming sessions or SELL into strength or just HOLD and wait to resolve relieve the earnings estimates and expectation anxiety.
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.