Archives of “September 20, 2019” day

rss

Huawei has delayed sale of smartphones in Europe citing US ban on access to Google

  
  Analysis
#  #  #  #

A piece in the South China Morning Post  overnight:

  • Huawei will delay sales of its newly launched Mate 30 smartphone series in Europe
  • Citing the US trade ban that bars access to Google apps and services
  • Huawei will promote its own Huawei Mobile Services (HMS) ecosystem, in lieu of Google’s own system, to support users in China
Further less than optimistic reports in the SCMP on the trade war include comments from a trade adviser to Donald Trump:
  • “Does the president have options to escalate the trade war? Yes, the tariffs can be raised higher. These are low level tariffs that could go to 50 percent or 100 percent”
That’s Michael Pillsbury, an outside trade adviser to Trump, said in an interview cited by SCMP.
Earlier on this here
A piece in the South China Morning Post  overnight: 

View Full Article

 

US Indices close with mixed results. Earlier gains taken away.

  
Analysis, US Market
#  #  #  #  #  #  #  #  #

S&P unchanged. Nasdaq up marginally. Dow down.

The major US stock indices are closing the day with mixed results.  Each however had earlier gains taken away into the close.
Looking at the three major indices, one ended unchanged, one was up marginally and one was down.  The final numbers are showing:
  • S&P index, unchanged at 3006.79. The high reach 3021.99.. The low extended to 3003.16
  • NASDAQ closed up 5.487 points or 0.07% at 8182.87. The high reached 8237.43. The low extended 28174.32
  • The Dow industrial average closed down -52.29 points or -0.19% at 27094.79. The high reached 27272.17. The low extended to 27064.21.
The chart below shows the percentage change high, the percentage change low, and the closing percentage change for the major North American and European stock indices today. European shares closed near their high levels for the day. The US major indices closed near their session lows.
S&P unchanged. Nasdaq up marginally. Dow down.

What seemed to be a negative catalyst for stocks was a report that a White House official commented that tariffs on China could go as high as 50 to 100%. That spooked the market and prices started to ratchet lower.

Go to top