10 Things You Must Know Going Into Thursday’s Trading

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Here is everything you need to know about the market today

Trump announces deal with EU to avoid full-blown trade war.

On Wednesday, US President, Donald Trump and European Commission’s President, Jean-ClaudeJunker, struck a preliminary deal in which they are aiming towards a goal of “zero tariffs, zero barriers, and zero subsidies on non-auto industrial goods”.

A $3 Trillion market that’s boldly ignoring the trade war is headed for a wake up call.

USB feels the credit card market specifically is in for a wake up call and is offering only a few trade recommendations for investors looking to protect their assets.

Oil Nears the $70 Mark.

West Texas Intermediate crude oil came close to the $70 per barrel mark in overnight trading following Saudi Arabia closing the Bab al-Mandeb Strait, a strategic shipping lane, in lieu of an attack on two massive oil tankers by Iranian-backed Houthi fighters.

Qualcomm Pulls its $40 million bid for NXP.

Qualcomm (QCOM 71,15 -0,05 -0,07%) will now be paying NXP (NXPI 100,46 +0,46 +0,46%) a $2million dollar fee, following an announcement yesterday that they will not be renewing thier two-year-old bid to acquire its Dutch competitor due to a regulatory standoff.

Facebook Tanks On Earnings

Following FB’s (FB 189,02 -3,71 -1,93%) release of their less then stellar Q2 report yesterday evening, shares plunged over 20% in after market trading.  In the Quarter 2 report Facebook  reported user metrics that fell short across the board.  They also warned that they expected revenue growth to decline by “high single digit” percentages in the upcoming quarters.

Ford drops its full year earnings outlook

The auto-making giant posted mixed quarterly results and followed suit with their peers GM and Fiat Chrysler in lowering their 2018 full-year earnings outlook, stating that they expect adjusted earnings of $1.30 to $1.50 per share, down from a range of $1.45 to $1.70.

Global Stock Markets are Mixed.

China’s Shanghai Compsite (0.74%) lagged in Asia, and Germany’s DAX (+1.28%) is the leader in Europe.  Meanwhile, the S&P 500 is set to pen down 0.40% near 2,835.

AMD Beats

Late on Wednesday AMD (AMD 29,44 -0,42 -1,41%) shares rallied with more then 5% growth following the chipmaker beating both the top and bottom lines.  They also posted their highest quarterly net income in 7 years.

Earnings Reporting Remains Heavy

Comcast (CMCSA 42,65 -0,23 -0,54%), McDonald’s (MCD 214,48 +3,23 +1,53%), Spotify (SPOT 153,47 -2,14 -1,38%), American Airlines (AAL 29,45 -0,39 -1,31%) and Under Armour (UAA 21,57 -0,01 -0,05%) are among the names that will be reporting before Thursday mornings opening bell.  Meanwhile Chipotle Mexican Grill (CMG 792,21 +1,78 +0,23%), Amazon (AMZN 1.823,24 -32,08 -1,73%), Intel (INTC 48,68 -0,82 -1,66%)  and Starbucks (SBUX 95,51 +0,13 +0,14%) are releasing their Q2 results after markets close.

US economic data keeps flowing in.

On Thursday, at 8:30 Am E.T. initial cliams and durable goods will be released. The US 10-year yield is down 1 basis point at 2.96%.

 

 

 

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