U.S. equities perked up after an opening on trade.
U.S. equities perked up after an opening on trade between the U.S. and China following a surprising Trump tweet suggesting that a ban on selling components to China's ZTE telecoms company could be rescinded after direct negotiations between Xi and himself: "President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost. Commerce Department has been instructed to get it done!" China also kickstarted its review of Qualcomm's bid for NXP semi, which suggested that relations could be thawing, and both those firm shares surged. The Dow is 58-points higher, S&P gained 4-points and NASDAQ is up 14-points in pre-open trade. On the other hand, Xerox of the U.S. sank 4% after abandoning a potential merger with Fujifilm of Japan. In contrast, Europe was mostly lower on hawkish ECB talk, leaving the Euro Stoxx 50 0.2% lower and the German DAX off 0.3%, while Asia was mainly firmer after a 0.47% rise on the Nikkei and 1.3% surge on the HK Hang Seng. The calendar remains quiet today, though Fedspeak has been trickling out from hawk Mester.
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|Date:||May 14, 2018|
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