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GLOBAL MARKETS LIVE: Huawei, Sprint, T-Mobile, Tesla…

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05/21/2019 | 09:37am EDT

The technology sector in general, and semiconductors in particular, will be closely examined following a severe correction - especially in Europe - in the wake of the Huawei case. This morning we are also talking about Tesla's setbacks and a record audience for the last episode of the Game of Thrones series. US stock-index futures and European shares rise, while Asian equities decline.


S&P 500 futures up 0.3% to 2,853.00
Brent futures down 0.3% to $71.77/bbl
Gold spot down 0.2% to $1,275.22
US Dollar Index up 0.2% to 98.11


Earnings season.
Home Depot, Nordstrom and Urban Outfitters are among companies reporting earnings today.

A step backwards. The US Department of Commerce reversed some of the restrictions it imposed on Huawei on Monday by temporarily allowing the Chinese telecom giant to keep its existing networks and provide software updates for its phone owners until August 19. The Chinese ban caused a purge of the sector yesterday on both sides of the Atlantic, including a -9% for STMicroelectronics.

FCC supports Sprint and T-Mobile. The President of the Federal Communications Commission (FCC) gave its support for the $26 billion merger project between Sprint and T-Mobile US, after they made a series of changes, including the sale of Boost Mobile, Reuters reports.

The shadow of a doubt. Tesla down to a two-year floor in session, as investors worry about financing the car manufacturer. The Wedbush design office is concerned about the growth projections, which depend solely on the Model 3, after a catastrophic quarter that saw deliveries drop compared to the previous quarter. Elon Musk's whimsical personality, despite his recent discretion, does not contribute to the serenity of investors on the case.

A little respite. The discount chain Dia has signed an agreement with its creditor banks, which prevents an imminent bankruptcy. This last-minute agreement was signed between the main creditor, Santander, and the new owner, the L1 fund.

In other news. 19.3 million American viewers watched the final episode of the "Game of Thrones" series on HBO (AT&T Group) on Sunday evening, a record. Merck's Keytruda does not meet its main efficacy targets in Phase III in some breast cancers. American Airlines is subpoenaing its mechanics unions to stop a strike.
Stocks mentioned in the article
ChangeLast1st jan.
DIAGEO -0.47% 3102 Delayed Quote.11.50%
DJ INDUSTRIAL -0.95% 26770.2 Delayed Quote.14.76%
HBOS PLC -13.46% 70.1 Delayed Quote.0.00%
LONDON BRENT OIL -0.41% 58.56 Delayed Quote.9.05%
MERCK AND COMPANY 1.05% 84.68 Delayed Quote.10.82%
NASDAQ 100 -0.93% 7868.490778 Delayed Quote.25.47%
NASDAQ COMP. -0.83% 8089.54332 Delayed Quote.22.93%
NORDSTROM -1.31% 34.58 Delayed Quote.-25.81%
S&P 500 -0.39% 2986.2 Delayed Quote.19.12%
SPRINT CORPORATION -0.31% 6.42 Delayed Quote.10.31%
T-MOBILE US 0.68% 81.6 Delayed Quote.28.28%
TESLA INC. -1.92% 256.95 Delayed Quote.-22.79%
THE HOME DEPOT, INC. 0.49% 237.93 Delayed Quote.38.48%
URBAN OUTFITTERS, INC. 0.38% 27.685 Delayed Quote.-16.61%
US DOLLAR INDEX -0.34% 97.28 End-of-day quote.0.62%

Romain Fournier
© MarketScreener.com 2019
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