Diamonds and Dogs
Chip stocks rebounding on hopes of trade tariff deal. Nvidia (NVDA) is jumping 6%, Intel (INTC) is up 3.5%, and Texas Instruments (TXN) is up 4% on news President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit, boosting hope for a U.S.-China trade deal. President Trump tweeted that he had a "very good telephone conversation with President Xi of China." Mr. Trump added that the two leaders will have an extended meeting at the G-20 Summit and that their respective teams are beginning talks prior to the meeting.
New technology not good for Western Union (WU). The 168 year old company that dominated the telegraph industry in the 19th Century is down 2% at a multi-month low on news Facebook's new digital currency called, Libra may hurt Western Union's money transfer business by making it easier for consumers to transfer money more quickly and without any fees.