The U.S. Markets- S&P 500 Futures -16
- 10-Year 2.64%
- Dollar Index 96.58
- Oil $52.30
- VIX 17.32
International
- Nikkei -2.01%
- Shanghai – Closed
- Hong Kong HSI -16bps
- South Korea KOSPI – 1.2%
- German DAX -43bps
- UK FTSE -16bps
Hong Kong
So much for trade war concerns in Hong Kong. Stocks fell sharply lower to start the day. But by days end where flat. This came after being closed the past few days.
S&P 500
S&P 500 is looking for a lower opening again, testing my belief that yesterday was a one and done. I could be wrong; I’m not right all the time. But right now the futures are indicating an opening around 2690. So we will see what happens.
Semis (SMH)
The semis are pointing to a lower open again too, and currently around $98.
Qorvo (QRVO)
But that shouldn’t come as a surprise with Qorvo (NASDAQ:QRVO) trading lower following disappointing guidance from a chipmaker. Notice any trends here? It will be interesting to see if this stock can rally back, it will give us an idea of whether semis are at the bottom or not. Remember NXP yesterday.
Amazon
Amazon (NASDAQ:AMZN) is trading lower, and the headlines for Jeff Bezos are getting messy. I do wonder how or if this may affect the stock. The stock is looking lower this morning, trading again below $1600. Not good.
AMD
Advanced Micro Devices (NASDAQ:AMD) is one chip stock that has not been hot recently and appears to be heading back to $21.
Nvidia
NVIDIA (NASDAQ:NVDA) is the other and continues to look like it may be heading toward $139.
GM
General Motors (NYSE:GM) just continues to melt after reporting its results earlier this week. I guess they weren’t as strong as everyone initially thought. I tried to warn you, the options trades said so.
On High Alert
Anyway, watch those levels today, I pointed them all out yesterday! Here are they quickly again
- S&P 500 around 2,690
- Russell 1,492
- VIX 17.50
- SMH around $98