Day Traders Diary
The S&P 500 is trading higher, on pace to snap a four-day losing streak, as investors await trade clues from an upcoming meeting between President Donald Trump and Chinese President Xi Jinping. The broad index is trading up 0.3% as the financials and real estate sectors outperformed. The Nasdaq Composite is up 0.6% while the Dow Jones is modestly lower getting dragged down by Boeing.
Boeing is down 2% after the U.S. aviation regulator found a new flaw in the 737 MAX jet, potentially delaying the aircraft's return to service and piling more pressure on the plane maker's suppliers.
On the earnings front, Walgreens Boots Alliance and KB Homes are both up 4% following better than expected earnings.
The Wall Street Journal reported this morning that President Xi will present President Trump with a set of conditions the U.S. should agree to in order to continue talks. Specifically, China wants the U.S. to remove restrictions on Chinese telecom companies, lift all punitive tariffs, and drop demands that force Beijing to purchase more U.S. exports than was previously agreed to in December.
It is unclear if the U.S. will agree to these conditions, but sources from The South China Morning Post indicated on Thursday that a tentative trade truce has already been reached. The report included that President Trump is expected to delay the additional tariffs on $300 billion of Chinese imports.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.