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

To: Return to Sender who wrote (83336)	5/22/2019 4:49:00 PM
From: Return to Sender	1 Recommendation Recommended By Sam Respond to of 95610

Wall Street declines amid persisting trade uncertainty 22-May-19 16:20 ET Dow -100.72 at 25776.61, Nasdaq -34.88 at 7750.82, S&P -8.09 at 2856.27 briefing.com [BRIEFING.COM] The stock market wavered with modest losses on Wednesday, leaving the S&P 500 down 0.3%, amid persisting trade uncertainty. The prevalence, and volatile nature, of trade headlines that have no clear end-date helped curb some of yesterday's trade-related enthusiasm. The Dow Jones Industrial Average lost 0.4%, the Nasdaq Composite lost 0.5%, and the Russell 2000 lost 0.9%. Reports that the U.S. is considering blacklisting several other Chinese firms put a damper on Apple (AAPL 182.78, -3.82, -2.1%) and many of the stocks within the Philadelphia Semiconductor Index (-2.1%). Qualcomm (QCOM 69.31, -8.44, -10.9%) was further pressured by a federal judge ruling against the company in an antitrust case. All of the S&P 500 cyclical sectors finished lower. The energy sector (-1.6%) led the decline amid lower oil prices ($61.40/bbl, -$1.67, -2.6%), which were pressured by the trade uncertainty and some bearish inventory data. This uncertainty also fostered some defensive positioning in U.S. Treasuries and in the S&P 500 utilities (+0.8%), health care (+0.6%), consumer staples (+0.6%) and real estate (+0.4%) sectors. The 2-yr yield declined two basis points to 2.22%, and the 10-yr yield declined three basis points to 2.39%. The U.S. Dollar Index finished little changed at 98.09. Perhaps reassuring for the market was some assurance from the Fed that interest rates will remain low, at least according to the minutes from the Apr. 30-May 1 FOMC meeting. The minutes, however, didn't produce any meaningful effect on the market considering the meeting occurred three weeks ago. In earnings news, shares of retailers Lowe's (LOW 97.94, -13.16, -11.9%), Nordstrom (JWN 34.35, -3.50, -9.3%), and Urban Outfitters (URBN 24.34, -2.66, -9.9%) dropped noticeably following their results and/or guidance. Target (TGT 77.56, +5.60), on the other hand, climbed 7.8% on its upbeat results and guidance. Reviewing Wednesday's economic data, which included the FOMC Minutes and the weekly MBA Mortgage Applications Index: The Minutes from the May FOMC meeting showed that policymakers are comfortable with the current fed funds rate range while "a number of participants" saw a moderation in risk and uncertainties surrounding their outlooks for the year. The key takeaway is that the stock market has a reasonable assurance to think policy rates are going to remain quite low on a real and nominal basis. Low rates are supportive for risk assets like stocks. The weekly MBA Mortgage Applications Index rebounded 2.4% following a 0.6% decline in the prior week. Looking ahead, investors will receive the weekly Initial and Continuing Claims report and New Home Sales for April on Thursday. Nasdaq Composite +16.8% YTD S&P 500 +13.9% YTD Russell 2000 +13.6% YTD Dow Jones Industrial Average +10.5% YTD