Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:16AM : Dow -23, S&P 500 -5.5， Nasdaq -27.8, Russell 2000 -8. WTI crude oil +0.12%，Gold -0.06%， US dollar index -0.06%.

。Oversea markets: Shanghai -0.44%, Japan-0.79%, Hong Kong-0.13%, Germany +0.08%, UK -0.57%, France+0.22%.

。Weak sectors: XRT, EEM, XLY, IYM, GDXJ,FXI, FDN  Strong sectors: PPH

。Wall Street is pointing to modest declines, with U.S. stock index futures down 0.3%, amid shaky trade talks, the collapse of the North Korea summit and escalating tensions between India and Pakistan. ---Wall Street Breakfast

。The market is downright bullish. The market is downright bullish. There is little reason to argue the point given the bullish trend since the December 24th lows. Of course, such is not surprising given the Fed’s dovish turn from tightening monetary policy to quietly putting the “punch bowl” back on the table.  But yet, this rally is occurring at a time where Europe’s earnings growth rates for the just reported Q4-period stands at a -1% annualized, which is the lowest since Q2-2016, and the U.S. is on the verge of an earnings recession as well as declining economic data. Something doesn’t quite jive.---Zero Hedge

 。Gross domestic product increased at a 2.6 percent annualized rate in the fourth quarter after expanding at a 3.4 percent pace in the July-September period. The economy grew 2.9 percent in 2018, the best performance since 2015 and better than the 2.2 percent logged in 2017. Economists polled by Reuters had forecast GDP rising at a 2.3 percent rate in the fourth quarter. The release of the fourth-quarter GDP report was delayed by a 35-day partial shutdown of the government that ended on Jan. 25, which affected the collection and processing of economic data. ---Reuters

。Statements from U.S. Trade Representative Robert Lighthizer are weighing on Chinese investor sentiment, with the Shanghai Composite falling 0.4% during the session. He said it was too early to predict an outcome in trade talks and the U.S. will need to maintain the threat of tariffs on Chinese goods for years, even if Washington and Beijing strike a deal. China's manufacturing PMI for February also fell to 49.2, highlighting another contraction and deepening cracks in the country's economy. ---Seeking Alpha

。CNBC report overnight that Tesla (TSLA) is setting up about $2B in loans from Chinese banks to build its Shanghai factory.Then there's Baird, which puts Tesla on its "Fresh Pick" list with an Outperform rating. TSLA -0.33%. ---Seeking Alpha

。BTIG analyst Mark Palmer writes that Square's (SQ) higher-than-expected spending and weaker-than-expected Q1 and FY2019 outlook leads him to reiterate his sell rating on the stock. The high end of Square's Q1 adjusted EBITDA guidance of $47M-$51M trails BTIG's estimate of $73.0M and consensus estimate of $70.4M.  SQ -3.43%---Seeking Alpha

JD.com (JD): Q4 Non-GAAP EPS of $0.07 beats by $0.12; GAAP EPS of -$0.48 misses by $0.32. Revenue of $19.6B (+22% Y/Y) beats by $210M. JD +6.31%


。由于贸易谈判不稳，朝鲜峰会崩溃以及印度和巴基斯坦之间紧张局势升级，华尔街指数温和下跌。---Wall Street Breakfast

。市场是彻头彻尾的看涨。鉴于自12月24日低点以来的看涨趋势，几乎没有理由争论这一点。当然，鉴于美联储从收紧货币政策转向悄悄地将“汤碗”重新放回台面，这并不奇怪。但是，这一反弹发生在欧洲刚刚报告的第四季度盈利增长率为-1％的年度化时期，这是自2016年第二季度以来的最低点，美国即将陷入盈利衰退的边缘以及经济数据的下降。这看来有点不太正常。 --- Zero Hedge

。继7月至9月期间增长3.4％后，第四季度国内生产总值年率增长2.6％。 2018年经济增长2.9％，是自2015年以来的最佳表现，优于2017年的2.2％。路透社调查的经济学家预测第四季度GDP以2.3％的速度增长。第四季度国内生产总值报告的发布推迟了，政府于1月25日结束的35天部分停工，这影响了经济数据的收集和处理。 ---路透社

。美国贸易代表罗伯特·莱希特（Robert Lighthizer）的声明打击了中国投资者情绪，上证综合指数在下跌0.4％。他表示现在预测贸易谈判的结果还为时过早，即使华盛顿和北京达成协议，美国也需要多年来维持中国商品关税的威胁。中国2月制造业采购经理人指数也跌至49.2，突显出该国经济出现再次萎缩和深化裂痕。 ---Seeking Alpha

。CNBC隔夜报道，特斯拉（TSLA）正在设立大约20亿美元的中资银行贷款，以建立其上海工厂。Baird将特斯拉列入其“新鲜选择”名单，并冠以优于大市评级。TSLA -0.33% ---Seeking Alpha

。BTIG分析师Mark Palmer写道，Square的（SQ）高于预期的支出以及弱于预期的第一季度和2019财年的前景使他重申对该股的卖出评级。 Square的第一季度调整后的EBITDA指引为4700万美元至5100万美元，低于BTIG估计的7300万美元和市场预期的7040万美元。 SQ -3.43% ---Seeking Alpha

。京东（JD）：第四季度非GAAP每股盈利0.07美元，好于预期0.12美元; GAAP每股收益为-0.48美元，错过0.32美元。营业额为196亿美元（同比增长22％），超过2.1亿美元。 JD +6.31％---Seeking Alpha