A Partial Deal and the Pigs Squeal

A Partial Deal and the Pigs Squeal

This week has been all about trade talks between the US and China. Rumors, tweets and headlines have caused the algo driven market to go a bit wild. Futures tanked on Wednesday after a report China might cut the talks short and leave a day early. Futures rebounded not long after and the market kept gaining on trade optimism. 

President Trump said via twitter today that “good things are happening at China trade talks” and it’s a warmer feeling than in recent past. Not long after Bloomberg reported that the U.S. and China reached a partial deal that could set up a trade truce.

The news fueled an all day long market rally. Looks like bulls get lobster for dinner and the bears will be eating ramen noodles this weekend. 

Apple Stock Hits All-Time High

If the US and China complete a trade resolution, Apple ($AAPL) could possibly avoid tax on Chinese imports. This news and reports of strong iPhone 11 sales helped push the stock to new highs. The stocks previous high was $233.47 back in October 2018. Today it reached $237.10. 

The Jamaican Stock Exchange Is Kicking Ass Mon!

Jamaica’s stock exchange is the best performing exchange in the world over the past 12 months. Unemployment has reached a record low. And last month the Standard and Poor Ratings Agency (S&P) upgraded the country’s credit rating. The country agreed to a $2b International Monetary Fund program back in May of 2013. Jamaica adhered to the terms of the program which greatly helped strengthen the economy. 

Lights out at PG&E

The utility company left thousands of Californians in the dark this week with its planned shutdown. The company planned the power cuts as a precaution to hopefully prevent its power lines from sparking wildfires. 

PG&E stock ($PCG) has been extra volatile this week as well. The judge overseeing the company’s bankruptcy cleared the way for a rival bankruptcy plan. This will potentially leave shareholders with less than what was envisioned in the previous plan. The stock dropped as much as 29%. 

Wall Street Weekly Performance

S&P 500 $SPY +0.65%. 
NASDAQ $QQQ +1.20%
Emerging Markets $EEM +1.86%
$VXX -4.47%
$GLD -1.32%
$BTC +2.09%
Long Term Treasuries $TLT -3.80%

This Week’s Top Gainers

Synthesis Energy $SES +220.12%

RA Pharmaceuticals $RARX +92.55%

Nordic American Tanker $NAT +48.03%

This Week’s Top Losers

Luokung Technology $LKCO -37.81%

Hexo Corp $HEXO -37.68%

Forescout Technologies $FSCT -36.19%

MEME of the Week

What Else is Happening

  • Target ($TGT) strikes a partnership with Disney ($DIS) new Disney stores will begin opening inside Target locations. Target also partnered up with Toys R us, helping the formally bankrupt company sell toys online.