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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (83229)	5/7/2019 4:32:26 PM
From: Return to Sender	1 Recommendation Recommended By Sam Read Replies (1) \| Respond to of 95622

Stocks Fall on U.S.-China Trade Uncertainty 07-May-19 16:25 ET Dow -473.39 at 25965.09, Nasdaq -159.53 at 7963.74, S&P -48.42 at 2884.05 briefing.com [BRIEFING.COM] U.S. stocks sold off on Tuesday, as increased uncertainty about a U.S.-China trade resolution contributed to a broad-based effort to de-risk. The 1.7% drop in the S&P 500, which was down as much as 2.4% at one point and flirting with its 50-day moving average (2856.44), sent the benchmark index below the 2900 level on a closing basis for the first time in nearly a month. The Dow Jones Industrial Average dropped 1.8%, the Nasdaq Composite dropped 2.0%, and the Russell 2000 dropped 2.0%. The stock market began the day noticeably lower after USTR Robert Lighthizer accused China of reneging on its prior commitments, and said the higher 25% tariff rate on $200 billion of Chinese imports will go into effect Friday. China is prepared to impose retaliatory tariffs on U.S. imports, but it will still send Vice Premier Liu He to Washington to continue trade talks later this week. Investors yesterday had largely shrugged off President Trump's threat to raise the tariff rate to 25% from 10% on $200 billion of Chinese imports starting Friday. Unlike yesterday, though, there was little effort to buy the dip, which helped exacerbate selling interest throughout the day. All 11 S&P 500 sectors finished lower as investors also sought to de-risk after a strong start to the year with an understanding that a meaningful trade resolution may take longer than expected. Nine of the 11 sectors finished with losses of at least 1.0%. The trade angst also contributed to general growth concerns, which were manifested in lower oil prices ($61.24/bbl, -$1.01, -1.6%) and relative weakness in the cyclical sectors. The trade-sensitive S&P 500 information technology (-2.1%), industrials (-2.0%), and materials (-1.8%) sectors were among Tuesday's worst-performers. Trading was largely defensive, evidenced by a flight-to-safety in U.S. Treasuries, firmness in the U.S. dollar, and a huge spike in the CBOE Volatility Index (VIX 20.94, +5.50, +35.1%). The move in the VIX reflected interest in hedging against further downside. The 2-yr yield declined three basis points to 2.28%, and the 10-yr yield declined five basis points to 2.45%. The U.S. Dollar Index increased 0.1% to 97.60. Reviewing Tuesday's economic data, which included the JOLTS - Job Openings and Labor Turnover Survey for March and the Consumer Credit report for March: The JOLTS report showed that job openings increased to 7.488 million in March from a revised 7.142 million (from 7.087 million) in February. Total outstanding consumer credit increased by $10.3 billion in March (Briefing.com consensus $17.0 billion) after increasing an upwardly revised $15.4 billion (from $15.2 billion) in February. Looking ahead, investors will receive the weekly MBA Mortgage Applications Index on Wednesday. China's trade balance report will also be released overnight, which will play directly into the market's mindset about where the trade negotiations might be headed. Nasdaq Composite +20.0% YTD Russell 2000 +17.3% YTD S&P 500 +15.1% YTD Dow Jones Industrial Average +11.3% YTD