Daily Market Update
with JJ Kinahan

6 min read

No Chip Dip: Tariff Talks Rule the Day as Chip Maker Rally Might Reflect Progress

(Thursday Market Open) The waiting game continues as trade negotiations with China remain front and center on Wall Street. Tariff talks still rule the day.

Media outlets reported progress in the talks Thursday, but U.S. stock indices didn’t seem inclined to move too much in either direction early on. Overnight trading in Europe and Asia had a mixed tone, and the first weak Eurozone manufacturing number in a while appeared to provide a bit of a weight that crept into U.S. pre-market prices. Chip makers, however, moved higher before the opening bell, which could be viewed as a positive sign for trade talks. The sector tends to be a good barometer for how the trade talks are going since these companies have a lot at stake.

Meanwhile, consider keeping an eye on crude, which crossed the $57 a barrel mark to approach new highs for the year. If crude keeps climbing, it might be interesting to see if there’s an impact on some of the transport stocks, which rely more on oil to run their businesses.

Outside of the China negotiations, which continue in Washington this week, there’s a bunch of new data due today and an earnings report from one of China’s biggest tech

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