You thought the President would forget about the China trade wars? Well, you thought wrong.
When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE – going on for years!
— Donald J. Trump (@realDonaldTrump) April 9, 2018
Good thing you have war in Syria to distract from the onerous circumstance of trade war rhetoric.
The Eurostoxx 50 are higher by 0.15%, WTI +0.34%, and Gold is flat. Do we still care about BTC? I didn’t think so.
SPY futs are +13 and spirits are generally good ahead of trade — but shit is fading out and I wouldn’t be surprised if we reversed and Mcplunged lower.
Here’s some other news crossing the tape.
Gapping up
In reaction to strong earnings/guidance:
- HLT +2%
M&A news:
- AVXS +82% (to be acquired by Novartis (NVS) for $218/share in cash, or approximately $8.7 bln)
Select AVXS peers/related names showing strength:
- RGNX +24.4%, TRPX +16.3%, BOLD +12.1%, PTLA +6.8%, BLUE +5.7%, .
Other news:
- VSTM +17.2% (announces that the FDA accepted for filing with Priority Review its New Drug Application for its lead product candidate duvelisib)
- PCRX +7.5% (confirms FDA approval of sNDA for EXPAREL)
- LUK +4.4% (announces series of corporate developments)
- DB +3.2% (Christian Sewing appointed as new Chief Executive Officer of Deutsche Bank)
- IONS +3.2% (has licensed IONIS-AZ6-2.5-LRx to AstraZeneca (AZN) following advancement of the drug into development)
- BPT +3% (increases Q1 dividend payment to $1.2748362/unit from $1.2301519/unit)
- SLM +2.9% (ValueAct Capital (Bradley E. Singer) discloses 6.4% active stake; have had and anticipate having further discussions)
- MRK +2.7% (monotherapy met primary endpoint in phase 3 keynote-042 study)
- CDE +2.7% (announced Q1 production of 3.2 million ounces of silver and 85,383 ounces of gold)
- BA +1.9% (Boeing American Airlines (AAL) sign major order for 47 787 Dreamliners)
- KMI +0.9% (announced that it is suspending all non-essential activities and related spending on the Trans Mountain Expansion Project)
Analyst comments:
- GM +2.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- CMA +2.2% (upgraded to Outperform from Neutral at Wedbush)
- BIDU +1.6% (upgraded to Buy from Outperform at Daiwa)
- A +1.3% (upgraded to Buy from Neutral at Goldman)
- MMP +1.3% (upgraded to Outperform at RBC Capital Mkts)
- ARGX +1.1% (initiated with a Buy at SunTrust)
Gapping down
In reaction to disappointing earnings/guidance:
- N/A.
Other news:
- MNLO -58.8% (reports Phase 2 Trial of Serlopitant did not meet primary end-point)
- TLGT -7.7% (files for $50 mln mixed securities shelf offering)
Analyst comments:
- NLNK -3.6% (downgraded to Neutral at Cantor Fitzgerald)
- BEN -0.7% (downgraded to Neutral from Buy at BofA/Merrill)
- WLK -0.6% (downgraded to Neutral from Overweight at JP Morgan)
The US imports cars from China?
They love Buicks.
They jerk off to Buicks.
Meanwhile, The Fly spanks it to Beamers?… or was it Benz’
It’s Beamers …the thick gold chain of white nouveau riche.
I think you mis-attribued that Tweet. Not only was it logical, but it was also factually correct – couldn’t have been Trump.
I wonder if he’s happy that the amrket is going up – or pissed that his administration is not the center of the news cycle attention. Also curious to the US poll numbers in respinse to the question: “Do you think the Assad regime was responsible for the latest chemical attck in Syria?”