Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:52AM : Dow +113，  S&P 500 +12.08， Nasdaq+48.05, Russell 2000 +10.50, WTI crude oil +1.33%，Gold+0.41%， US dollar index-0.08%.

。Oversea markets: Shanghai +3.2%, Japan+0.82%, Hong Kong+0.96%, Germany+0.96%, UK +0.60%, France+1.07%.

。Weak sectors: None  Strong sectors: IBB, SMH, SLV, EEM, FXI, IGV, FDN

。The White House said on Friday that the United States and China made progress toward a trade agreement during “constructive discussions” this week in Beijing. “The two parties continued to make progress during candid and constructive discussions on the negotiations and important next steps,” the White House said in a statement that echoed comments made earlier by U.S. Treasury Secretary Steven Mnuchin.---Reuters

。The S&P 500's 12.3% gain so far for the first quarter is its best quarterly gain in nearly a decade and its finest start to the year since 1998. The quarter certainly benefited from an oversold bounceback after the fourth quarter's heavy 14% slump, but analysts still see a positive period ahead. While there could be some bumps in Q2 as the market struggles with earnings growth and a slower economy, positive U.S. China trade relations and investing sentiment could propel stocks higher.---Wall Street Breakfast

。Chicago PMI dip more than expected. Mar. Chicago PMI: 58.7 vs. 60.3 consensus, 64.7 prior. February New Home Sales: 667K vs. 615K expected, 636K prior (revised from 607K).---Seeking Alpha

。It's now been two full years to the day since the U.K. asked the EU for a divorce, but questions still linger as to how Brexit will end. In a last-ditch bid, Theresa May has asked the House of Commons for a "blind" Brexit vote for today - meaning MPs will have the ability to approve her Withdrawal Agreement without the Political Declaration that sets out terms for a future trade deal with the EU. Boris Johnson is meanwhile holding meetings across the Conservative Party, preparing to launch his bid to become prime minister.

。Boeing(BA-1.29%) is facing its first lawsuit over the Ethiopian Airlines crash of a Boeing 737 MAX jet. It was filed in Chicago by the family of Jackson Musoni of Rwanda, one of the crash victims. Separately, investigators looking into crash are said to have reached a preliminary conclusion that an anti-stall system on board misfired, The Wall Street Journal reported Friday. ---CNBC

。Celgene (CELG +7.48%) proxy advisor ISS supporting its announced merger with Bristol-Myers Squibb (BMY －0.88%) ---Seeking Alpha

。BlackBerry(BB +11.15%) — The communications software company earned an adjusted 11 cents per share for its latest quarter, beating estimates by 5 cents a share. Revenue also beat forecasts, and hit a record for both the fourth quarter and the full year. ---CNBC

。Comcast (CMCSA -1.41%)— RBC Capital downgraded the NBCUniversal and CNBC parent to “sector perform” from “outperform,” saying it is taking a more cautious view on cable sector fundamentals and lowering its expectations for broadband and video subscriber numbers. ---CNBC



。白宫周五表示，美国和中国本周在北京举行的“建设性讨论”中，在达成贸易协议方面取得了进展。白宫在一份声明中表示，双方在谈判和重要的后续步骤的坦诚和建设性讨论中继续取得进展，这与美国财政部长史密斯·姆努钦先生的言论相呼应。---路透社

。标准普尔500指数第一季度迄今为止的涨幅为12.3％，是近十年来最佳季度涨幅，也是自1998年以来的最佳涨幅。本季度受益于第四季度14％的暴跌之后的超跌反弹，分析师仍然认为未来还会是正面的。由于市场在盈利增长和经济放缓的情况下陷入困境，第二季度可能出现一些颠簸，而美国和中国的正面贸易关系和投资情绪可能推动股市走高。---Wall Street Breakfast

。芝加哥PMI跌幅超过预期。 3月芝加哥采购经理人指数：58.7对60.3共识，之前为64.7。 2月新屋销售：667K，预期为615K，之前为636K（从607K修订）。---Seeking Alpha

。自英国要求欧盟脱欧以来，现在已经过去了整整两年，但英国脱欧将如何结束仍然存在疑问。 在最后的竞标中，特蕾莎梅已经要求下议院今天进行“盲目”的英国退欧投票 - 这意味着国会议员将有能力批准她的退出协议而没有为未来欧盟的协议规定条款的政治宣言。 与此同时，鲍里斯·约翰逊正在保守党举行会议，准备宣布竞逐成为总理。---Wall Street Breakfast

。波音公司（BA +1.29%）正面临首次对波音737 MAX喷气式飞机的埃塞俄比亚航空公司坠机事件提起诉讼。它是由卢旺达的杰克逊穆索尼（Jackson Musoni）家族在芝加哥提起的，他是坠机事故受害者之一。据英国“华尔街日报”周五报道，另外，据调查调查人员已经初步得出结论认为，机上的防失速系统失灵了。 --- CNBC

。Celgene（CELG +7.48%）代理顾问ISS支持宣布与Bristol-Myers Squibb（BMY －0.88%）合并。---Seeking Alpha

。黑莓（BB +11.15%）这家通信软件公司最近一个季度的每股收益调整为11美分，超过预期5美分。收入也超过预期，并创下第四季度和全年的记录。 --- CNBC

康卡斯特（CMCSA -1.41%）RBC Capital将NBCUniversal和CNBC的母公司评级从“跑赢大盘”评级为“行业表现”，称其对有线电视行业基本面采取更谨慎态度，并降低对宽带和视频用户数量的预期。 --- CNBC

Today's Stock Market Outlook 今日股市展望

After last Friday's over 400 point drop in the Dow, market action has been weak. This is evident as morning rallies were sold 3 days in a row. However, buy on dips are still supportive to the market. For further market deterioration, weakness at the close is needed. Continue strength in
US Treasuries (lower yield) is also a key as that adds to recession fear. Today the 10 year Treasury yield is back up to 2.395% from yesterday's close at 2.356% is helpful to the stock market.  On the trade talk front, news of China's willingness in talks on forced technology transfer issue helped the market, while White House Chief Economic Advisor Larry Kudlow said earlier that time of finishing up the deal may take a while cooled things down.  Today's weakness in semiconductor sector and FAANG (Face Book, Amazon, Apple, Neflix, Google) are market drags today. Technically, S&P 500 is still fighting to hold above key level 2800. For the last few days, S&P 500 has been trading between 2785 and 2830. Lower highs has been made is indicative of weakness. Market will likely accelerate to the down side if 2785 breaks.

在上周五道琼斯指数下跌超过400点之后，市场偏向走弱。这是明显的，因为连续3天早上上升后都被抛售。然而，逢低买入势力仍然对市场有支撑。如要进一步的市场恶化，需要收盘时表现疲软。美国国债上升（收益率走低）也是一个关键，因为它加强了经济衰退的恐惧。今天10年期国债收益率从昨天的收盘价2.356％回升至2.395％而对股市有帮助。在贸易谈判方面，有关中国在强制技术转让问题上有谈判意愿的消息有助于市场，但白宫首席经济顾问拉里·库德洛早些时候表示，完成协议的时间可能需要一段时间却令市场降温。今天半导体行业和FAANG（Face Book，亚马逊，Apple，Neflix，谷歌）股票的弱势是今天的市场拖累。从技术面来看，标准普尔500指数仍在努力维持在关键水平2800以上。过去几天，标准普尔500指数一直在2785点和2830点之间交易。过去几天创造了较低的高价位有市场疲软的显示。如果2785被向下击破，市场可能会加速下行。

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:40 AM : Dow +77.70，  S&P 500 +10.89， Nasdaq +35.65, Russell 2000 +11.54, WTI crude oil +－0.59%，Gold-1.34%， US dollar index+0.38%.

。Oversea markets: Shanghai -0.92%, Japan-1.61%, Hong Kong+0.16%, Germany+0.38%, UK +0.85%, France+0.32%.

。Weak sectors: GDXJ,GDX, SLV, GLD  Strong sectors: IBB, IGV, IYM, XLY, FDN

。China has made unprecedented proposals in talks with the United States on a range of issues including forced technology transfer as the two sides work to overcome remaining obstacles to a deal to end their protracted trade war, U.S. officials told Reuters on Wednesday. China put proposals on the table in the talks that went further than in the past, including on technology transfer, said one of four senior U.S. administration officials who spoke to Reuters. Negotiators have made progress on the details of the written agreements that have been hashed out to address U.S. concerns, he said. ---Reuters

。The U.S. economy slowed more than initially thought in the fourth quarter, keeping growth in 2018 below the Trump administration’s 3 percent annual target, and corporate profits failed to rise for the first time in more than two years. Gross domestic product increased at a 2.2 percent annualized rate, the Commerce Department said on Thursday in its third reading of fourth-quarter GDP growth. That was down from the 2.6 percent pace estimated in February.

。FedEx (FDX +0.91%)  — Susquehanna downgraded FedEx shares to “neutral” from “positive,” noting an uncertain macroeconomic environment as well as an anticipated increase in capital spending by FedEx. ---Reuters

。Johnson & Johnson（JNJ +0.18% ） was cleared of liability in a New Jersey case involving claims that asbestos in J&J’s talc products had caused the plaintiff’s mesothelioma. J&J is currently facing about 13,000 talc-related lawsuits, and also announced settlements in three other cases Wednesday. ---CNBC

。Lululemon （LULU +16.29%）reported adjusted quarterly profit of $1.85 per share, beating forecasts by 9 cents, a share, while revenue was above Wall Street forecasts. The yoga wear maker also issued better-than-expected guidance for the full year and announced a $500 million stock buyback. ---CBNC

。Monster Beverage (MNST -0.29%) — The energy drink maker was named “top pick” at Credit Suisse, citing an attractive valuation and excessive worries by investors over potential competition from Red Bull and Bang. ---CNBC

。Amarin (AMRN +6.31%) is up on modestly higher volume following an announcement from the American Diabetes Association adding Vascepa (icosapent ethyl) to its standard-of-care recommendation to reduce cardiovascular (CV) risk in diabetics with atherosclerotic CV disease ---seeking Alpha





太平洋时间早上7:40：道指+77.70，标准普尔500指数+10.89，纳斯达克指数+35.65，罗素2000 +11.54，WTI原油+ -0.59％，黄金-134％，美元指数+ 0.38％。

。海外市场：上海-0.92％，日本-1.61％，香港+ 0.16％，德国+ 0.38％，英国+ 0.85％，法国+ 0.32％。

。弱势行业：GDXJ，GDX，SLV，GLD   强势行业：IBB，IGV，IYM，XLY，FDN

美国官员周三告诉路透社，中国在与美国就一系列问题进行谈判时提出了前所未有的建议，包括强制技术转让。双方正在努力克服阻止达成协议以结束长期贸易战的可能障碍。与路透社交谈的四位高级官员之一表示谈判比过去更进一步，包括技术转让。他说，谈判代表已经就为解决美国问题而签署的书面协议的细节取得了进展。--Reuters

美国经济在第四季度放缓的速度超过了最初的预期，使2018年的增长率低于特朗普政府3％的年度目标，企业利润在两年多以来首次未能上升。美国商务部周四公布的第四季度国内生产总值（GDP）增长率第三次估计显示国内生产总值年增长率为2.2％。这比2月份估计的2.6％有所下降。---Reuters

联邦快递（FDX +0.91%） - 萨斯奎汉娜将联邦快递的股票评级从“正面”降至“中立”，并指出不确定的宏观经济环境以及联邦快递预计的资本支出增加。 ---路透社

强生公司 (JNJ +0.18%) 在新泽西州的一起案件中被判不用承担责任，该案件涉及J＆J的滑石产品中的石棉引起了原告的间皮瘤。强生公司目前正面临约13,000项滑石相关诉讼，并于周三宣布其他三起案件的和解协议。 --- CNBC

Lululemon （LULU +16.29%）报告调整后每股盈利1.85美元，超出预期每股9美分，而营业额高于华尔街预测。这家瑜伽服制造商也发布了全年好于预期的指引，并宣布了5亿美元的股票回购。 --- CBNC

Monster Beverage（MNST-0.29%）  - 这家能量饮料制造商被瑞士信贷评为“首选”，理由是估值吸引，投资者对红牛和Bang的潜在竞争过度担忧。 --- CNBC

在美国糖尿病协会宣布将Vascepa（icosapent ethyl）添加到其标准护理建议中以减少患有动脉粥样硬化性疾病或其他疾病的糖尿病患者的心血管（CV）风险后，Amarin（AMRN +6.31% ）在交易量略增下上升。 ---Seeking Alpha

It Is Time To Sell 是卖出的时侯了

US stock indexes opened up but have now all turning down significantly. Weak software (IGV), semiconductor (SOXX), internet (FDN), social media (SOCL) and health care (XLV) are dragging the market down. 10 year treasury yield has now dropped to 2.37%, the lowest since December 2017. This again raised recession concern. Small Cap Index Russell 2000 is the weakest among indexes dropping below it's 50 Day Moving Average at 1528. The index is now below it's 20, 50 and 200 Day Moving Averages and it's trend is now short, intermediate and long term down. S&P 500 is now dropping below it's crucial support at 2800 level and it's 20 Day Moving Average at the same level.  The Dow and Nasdaq are also below their 20 Day Moving Averages.  Fear index $VIX formed a bullish engulfing pattern and is up nearly 12%. Fear is rising. Market down turn is likely.  Initial S&P downside target is 50 Day Moving Average at 2747. If this level is broken next target is 38% retracement level at 2660. To participate on the market down turn, buy the 3 times bear index ETFs such as TZA, SQQQ, SPXS, SDOW and the1.5 times VIX ETF UVXY.

美国各大股指开盘上涨，但现在已大幅下挫。 弱软件（IGV），半导体（SOXX），互联网（FDN），社交媒体（SOCL）和医疗保健（XLV）正在拖累市场。 10年期国债收益率目前已降至2.37％，为2017年12月以来的最低水平，再次引发了经济衰退的担忧。 小型股指数罗素2000指数跌低于其50日移动平均线1528为最弱的大市指数。该指数现在低于其20日，50日和200日移动平均线，现在的趋势是短期，中期和长期下跌。 标准普尔500指数现在已经跌破2800点的关键支撑位，同样是20天移动平均线水平。 道琼斯指数和纳斯达克指数均低于20日移动平均线。 恐慌指数$VIX形成看涨吞噬模式，上涨近12％。 恐惧正在攀升。 市场下跌的可能性大。初步标准普尔下行目标是50日移动平均线2747.如果该水平被打破下一个目标是38%回撤水平2660。参与市场下跌可 买入3倍熊市指数ETF，如TZA，SQQQ，SPXS，SDOW和1.5倍VIX ETF UVXY。

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:43 AM : Dow -45，  S&P 500 -6.84， Nasdaq -28.73, Russell 2000 -8.89, WTI crude oil +0.05%，Gold-0.33%， US dollar index+0.17%.

。Oversea markets: Shanghai ＋0.85%, Japan-0.23%, Hong Kong+0.56%, Germany+0.44%, UK +0.16%, France+0.43%.

。Weak sectors: SOXX, GDX, SLV, IGV, IBB, XLE  Strong sectors: XRT, TLT, IYT

The U.S. trade deficit dropped more than expected in January likely as China boosted purchases of soybeans, leading to a rebound in exports after three straight monthly declines.

China’s industrial firms posted their worst slump in profits since late 2011 in the first two months of this year, data showed on Wednesday, as increasing strains on the economy in the face of slowing demand at home and abroad took a toll on businesses. ---Reuters

A temporary slowdown in the eurozone does not necessarily foreshadow a serious recession, according to ECB President Mario Draghi. However, the central bank is still willing to further delay a planned interest rate hike if necessary and may look at measures to mitigate any side effects of negative interest rates. "We are not short of instruments to deliver on our mandate," he told a conference in Frankfurt. --Wall Street Breakfast

Crude inventories rose by 2.8 million barrels in the last week, compared with analysts’ expectations for a decrease of 1.2 million barrels. ---CNBC

Apple (AAPL ＋1.04%)won a ruling from the International Trade Commission (ITC) late Tuesday in its long-running patent battle against chipmaker Qualcomm （QCOM －2.40%）. Earlier in the day, in a separate patent ruling, the ITC ruled in favor of Qualcomm. ---CNBC

Southwest Airlines （LUV ＋2.03%）— The airline cut its first-quarter forecast for REVPAR (revenue per available seat mile) due to the grounding of its 737 MAX jet fleet. Southwest is the first carrier to report on impact on its earnings from the removal of the Boeing jets from service. ---CNBC

KB Home (KBH ＋0.75%)reported quarterly profit of 31 cents per share, 5 cents a share above estimates. The homebuilder’s revenue fell short of Street forecasts due to a decline in average selling prices. KB Home did swing to a profit from a year-earlier loss during the quarter. KBH
---CNBC

Novartis （NVS ＋0.23%） — The drugmaker won Food and Drug Administration approval for its new multiple sclerosis drug Mayzent, designed for patients whose attacks have shifted from intermittent to more frequent. ---CNBC




。太平洋时间早上7点43分：道指-45，标准普尔500 -6.84，纳斯达克-28.73，罗素2000 -8.89，WTI原油+ 0.05％，黄金-0.33％，美元指数+ 0.17％。

。海外市场：上海+ 0.85％，日本-0.23％，香港+ 0.56％，德国+ 0.44％，英国+ 0.16％，法国+ 0.43％。

。弱势行业：SOXX，GDX，SLV，IGV，IBB，XLE  强势行业：XRT，TLT，IYT

。1月份美国贸易逆差下降超过预期，因为中国增加了大豆采购量，导致出口连续三个月下滑后反弹。---路透社

。周三数据显示，中国工业企业自今年头两个月以来的利润出现了最严重的下滑，因为国内外需求放缓导致经济增长紧张对企业构成影响。 ---路透社

。欧洲央行行长马里奥·德拉吉表示，欧元区的暂时放缓并不一定预示着严重的经济衰退。 然而，如有必要，央行仍愿意进一步推迟计划加息，并可考虑采取措施减轻负利率的任何副作用。 他在法兰克福的一次会议上说：“我们并不缺乏履行我们职责的工具。”---Wall Street Breakfast

。上周原油库存增加280万桶，而分析师预计减少120万桶。

。苹果公司（AAPL ＋1.04%）周二晚间在与芯片制造商高通公司（QCOM －2.40%）的长期专利战中赢得了国际贸易委员会（ITC）的裁决。当天早些时候，在一项单独的专利裁决中，ITC裁定有利于高通公司。 --- CNBC

。西南航空公司 （LUV ＋2.03%）- 由于其737 MAX喷气机停飞，该航空公司削减了第一季度的REVPAR预测（每个可用座位里程的收入）。西南航空公司是第一家报告波音飞机从服务中撤出后对其收益影响的航空公司。 --- CNBC

。KB Home（KBH ＋0.75%）报告季度每股盈利31美分，高于预期5美分。由于平均销售价格的下降，房屋建筑商的收入低于华尔街预测。 KB Home在本季度由一年前的亏损变为盈利。
--- CNBC

诺华公司 （NVS ＋0.23%） - 该制药商获得了美国食品和药物管理局批准的新型多发性硬化症药物Mayzent，该药物的设计用于攻击从间歇性转为更频繁的患者。 --- CNBC

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 8:08 AM : Dow +252，  S&P 500 +27.90， Nasdaq +84.20, Russell 2000 +22.71 WTI crude oil +2.16%，Gold-0.54%， US dollar index+0.06%.

。Oversea markets: Shanghai -1.51%, Japan+2.15%, Hong Kong+0.15%, Germany+0.71%, UK +0.43%, France+0.98%.

。Weak sectors: GDXJ, SLV, GDX, GLD  Strong sectors: OIH, IBB, XRT, SMH, SOCL, IGV, FDN

。Stocks indexes rose on Tuesday as a decline in Treasury yields stabilized, assuaging fears of an economic slowdown.

。Share buybacks hit their highest level in history last year, according to new data.The total value of share repurchases by companies surged to a record $806.4 billion in 2018, up 55 percent from a year earlier, according to new data from S&P Dow Jones Indices. The record was more than 36 percent higher than the previous high watermark hit in 2007. The buyback total is bigger than the market capitalization of all but four companies in the S&P 500, eclipsing the size of top constituents like Facebook, Exxon Mobil and Berkshire Hathaway. ---CNBC

。March Consumer Confidence: 124.1 vs. 133.0 consensus; 131.4 prior in February (unrevised). ---Seeking Alpha

。Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,162,000. This is 8.7 percent below the revised January estimate of 1,273,000 and is 9.9 percent below the February 2018 rate of 1,290,000. Single‐family housing starts in February were at a rate of 805,000; this is 17.0 percent below the revised January figure of 970,000. The February rate for units in buildings with five units or more was 352,000. ---Calculated Risk

。U.S. crude oil breaks above $60/bbl, as market participants regain focus on the tight supply situation and away from concerns about weaker demand from a potential economic slowdown. ---Seeking Alpha

。Goldman Sachs maintains a Neutral rating on Apple （AAPL）. Canaccord Genuity maintains a Buy rating and boosts Apple's target from $185 to $230 and raises its Services growth rate forecasts for CY19 and CY20. AAPL ＋1.67% ---Seeking alpha

。Needham warns that Apple's new streaming video service could "poison" Netflix (NFLX) as it arrives to compete directly with 900M captive users already in the hopper. Analyst Laura Martin notes that Apple also has the ability to bundle games, news, music and TV as it sells iPhones to build up the service. Needham keeps a Hold rating on Netflix.  NFLX －1.11%---Seeking Alpha

。Tesla — The automaker and CEO Elon Musk have won a second dismissal of a securities fraud lawsuit alleging that misleading comments were made about Model 3 production. The suit had originally been dismissed in October 2017 but the judge in the case allowed the plaintiffs to file an amended suit.  TSLA＋2.37%---CNBC

。Nvidia （NVDA）— Piper Jaffray began coverage of the graphics chipmaker with an “overweight” rating, saying the stock is trading at attractive levels and that Nvidia is positioned to overcome some industry headwinds.  NVDA ＋2.30%---CNBC




。太平洋时间上午8:08：道指+252，标准普尔500指数+27.90，纳斯达克+84.20，罗素2000 + 22.71 WTI原油+ 2.16％，黄金-0.54％，美元指数+ 0.06％。

。海外市场：上海-1.51％，日本+ 2.15％，香港+ 0.15％，德国+ 0.71％，英国+ 0.43％，法国+ 0.98％。

。弱势行业：GDXJ，SLV，GDX，GLD 强势行业：OIH，IBB，XRT，SMH，SOCL，IGV，FDN

。周二股市上涨，因国债收益率下跌趋于稳定，缓解了对经济放缓的担忧。

。根据新的数据，股票回购去年创下历史最高水平。根据标准普尔道琼斯指数的新数据，2018年公司股票回购总值飙升至创纪录的8064亿美元，比去年同期增长55％。 该记录比之前的2007年高水位高出36％以上。回购总量大于标准普尔500指数中四家公司的市值，超过Facebook，埃克森美孚和伯克希尔哈撒韦等主要成分股的规模。--- CNBC

。3月消费者信心指数：124.1对133.0共识; 2月为131.4（未经修订）。---Seeking Alpha

。2月私人住房开工率经季节性调整，年率为1,162,000。 这比1月修正后的1,273,000减少了8.7％，比2018年2月的1,290,000减少了9.9％。 2月份单户住房开工率为805,000; 这比修正后的1月份的970,000数字低17.0％。2月份 5个单位或以上建筑物数量为352,000。---Calculated Risk

。市场参与者重新关注供应紧张局面，盖过对潜在经济放缓带来的需求减弱的担忧，美国原油升高于60美元/桶。

。高盛（Goldman Sachs）维持对苹果(AAPL)的中性评级。 Canaccord Genuity保持买入评级，并将Apple的目标从185美元提升至230美元，并提高了对CY19和CY20的服务增长率预测。AAPL ＋1.67% ---Seeking Alpha

。Needham警告称，苹果的新流媒体视频服务可能会“毒害”Netflix（NFLX），因为它直接与900M用户竞争。 分析师劳拉马丁指出，苹果还有能力捆绑游戏，新闻，音乐和电视，因为它销售iPhone以建立服务。 Needham对Netflix评级为持有。NFLX -1.11% ---Seeking Alpha

。特斯拉（TSLA） - 首席执行官埃隆马斯克赢得了第二次驳回声称对模型3生产做出了误导性评论证券欺诈诉讼。 该诉讼最初于2017年10月被驳回，但该案的法官允许原告提起修改后的诉讼。TSLA +2.37% ---CNBC

。Nvidia （NVDA） -  Piper Jaffray开始跟踪该图形芯片制造商并冠以“增持”评级，称该股票的交易价格具有吸引力且Nvidia有望克服一些行业逆风。NVDA +2.30% ---CNBC

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:52AM : Dow +43，  S&P 500 +1.50， Nasdaq -11.15, Russell 2000 -1.01, WTI crude oil -1.19%，Gold+0.71%， US dollar index-0.16%.

。Oversea markets: Shanghai -1.97%, Japan-3.01%, Hong Kong-2.03%, Germany-0.28%, UK -0.57%, France-0.31%.

。Weak sectors: SMH,OIH, PPH, IBB, SOCL  Strong sectors: GDX,GDXJ, XRT, SLV, GLD

。Volatility returned with a vengeance to Asia, home to some of the best stock-market returns in the world this year before Monday.The MSCI Asia Pacific Index slumped as much as 2 percent on Monday, heading for its biggest decline since October and erasing monthly gains. Shares in China, Hong Kong, South Korea and Japan lost more than 1.3 percent, with S&P 500 Index futures dropping as much as 0.7 percent. That’s pushed indexes of equity swings to jumps not yet seen this year. The Nikkei Stock Average Volatility Index soared as much as 31 percent, with similar gauges for Hong Kong, South Korea and Australia also surging. ---Bloomberg

。Ahead of fresh high-level trade talks this week (March 28, Beijing), China is not conceding to U.S. demands to ease curbs on technology companies, the Financial Times reported on Sunday, citing three people briefed on the discussions.The FT report said Beijing had yet to offer “meaningful concessions” to U.S. requests for China to stop discriminating against foreign cloud computing providers, to reduce limits on overseas data transfers and to relax a requirement for companies to store data locally. ---Reurters

。This was supposed to be the week the U.K. left the EU, but following a Brexit extension, Britain will now have until April 12 to offer a new plan or decide to leave the bloc without a treaty. The next few days may also see MPs decide on a variety of Brexit options, including a third vote on Theresa May's Brexit deal as the prime minister faces pressure from all sides. There are new signs of disarray as May was the subject of what the Sunday Times called a weekend "coup" by senior ministers seeking to oust her. ---Wall Street Breakfast

。Attorney General William Barr says President Donald Trump is cleared legally in the Russia investigation, but the controversy over the probe is far from over. Democrats still want to see Mueller’s full report, and are questioning Barr’s conclusions. There are still ongoing investigations related to Trump inside and outside of Congress. ---CNBC

。Oil prices slipped on Monday, with concerns of a sharp economic slowdown overshadowing support from tighter supply due to OPEC’s production cuts and U.S. sanctions on Iran and Venezuela. ---reuters

。Lackluster demand and overseas Model 3 delivery problems will weigh on Tesla's (TSLA) Q1 results, according to a new warning from RBC Capital. The brokerage reiterated its Underperform rating on shares and slashed its price target to $210 from $245, a 14% reduction that implies more than 20% downside over the next year. Registrations of new Tesla vehicles fell significantly from January to February according to the Dominion Cross-Sell Report.---Seeking Alpha

。Apple Inc （AAPL） to announce new products at 10AM Pacicific Time.




。太平洋时间上午7:52：道指+43，标准普尔500指数+1.50，纳斯达克-11.15，罗素2000 -1.01，WTI原油-1.19％，黄金+ 0.71％，美元指数-0.16％。

。海外市场：上海-1.97％，日本-3.01％，香港2.03％，德国-0.28％，英国-0.57％，法国-0.31％。

。弱势行业：SMH，OIH，PPH，IBB，SOCL 强势行业：GDX，GDXJ，XRT，SLV，GLD

。市场波动在亚洲有报复性的回归。亚洲是今年周一之前世界上一些最佳股票市场回报的所在地。周一摩根士丹利资本国际亚太指数（MSCI Asia Pacific Index）跌幅高达2％，为10月份以来的最大跌幅，并抹去了月度涨幅。 中国，香港，韩国和日本的股票跌幅超过2％。这推动在今年尚未见到股市波动指数的波动。 日经指数波动指数飙升高达31％，香港，韩国和澳大利亚的类似指标也飙升。---Bloomberg.com

。英国“金融时报”周日报道在本周新一轮高层贸易谈判之前 (3月28，北京），引用三位人士介绍了有关讨论的情况，中国并未在美国要求放宽对技术公司的限制防面的让步。英国“金融时报”报道称北京尚未提出“ 有意义的让步“美国要求中国停止歧视外国云计算提供商，减少海外数据传输的限制，放宽公司在本地存储数据的要求。--- Reurters

。这应该是英国离开欧盟的一周，但在英国退欧延长之后，英国将在4月12日之前提出一项新计划或决定在没有条约的情况下离开欧盟。 接下来的几天也可能会看到国会议员决定各种英国退欧选择，包括对特里萨梅的脱欧协议进行第三次投票。总理面临来自各方的压力。星期日泰晤士报称高级部长周末试图推翻她的“政变”的混乱迹象。 ---Wall Street Breakfast

。司法部长威廉巴尔说，唐纳德特朗普总统在俄罗斯的调查中被合法澄清罪名，但对调查的争议远未结束。 民主党人仍然希望看到穆勒的完整报告，并质疑巴尔的结论。 目前仍有在国会内外对特朗普进行的调查。---CNBC

。周一油价下跌，市场担心经济急剧放缓盖过了石油输出国组织减产以及美国对伊朗和委内瑞拉的制裁导致供应紧张的支撑。---Reuters

。根据加拿大皇家银行资本的新警告，需求疲软和海外模型3交付问题将对特斯拉（TSLA）第一季度业绩产生影响。 该券商重申其对股票的跑输大盘评级，并将其目标价格从245美元下调至210美元，减少14％，意味着明年下跌超过20％。 根据Dominion交叉销售报告，新特斯拉汽车的注册量从1月到2月显着下降。 TSLA -1.53---Seeking Alpha

。Apple Inc（AAPL）将于太平洋时间上午10点宣布新产品。AAPL-0.73%

Central Bank Actions, Yield Curve Inversion, Earning Expectations 央行行动，收益率曲线反转，盈利预期

With the U.S. Federal Reserve well and truly doubling down on its dovish guidance this month, the global rate hiking cycle is at an end. There are exceptions of course but the big central banks of the developed world — the Fed, the European Central Bank and Bank of Japan — have all reacted decisively to the steady drumbeat of depressing economic data by pushing any policy tightening plans to the backburner. But instead of deriving any comfort from the pivot, some in the market are interpreting the moves as desperate measures to ward off impending recession. That fear is certainly evident on bond markets where the gap between three-month and 10-year U.S. treasury yields — one of the gauges the Fed uses to assess inflation risks — has inverted. European yield curves too have flattened and German 10-year government borrowing costs have slid back below zero percent for the first time since 2016.---Reuters

“We’re going at least for a 40% decline from the S&P’s top,” Otavio Costa, a macro analyst at Crescat Capital, a hedge fund that oversees $52 million, told MarketWatch in an interview.
The analyst of the investment firm, says the inversion of the yield curve, where short-dated yields rise above their longer-dated peers, signals an ignominious end to a 10-year bull run for the S&P 500 index, which bottomed in March of 2009 but has mounted a record-long rally, by some measures, since that point. In particular, Costa said the growing number of inversions in yield spreads across Treasury maturities suggested a bear-market for equities was at hand, in the face of a darkening global growth picture.Costa says investors shouldn’t focus on any one inversion, but rather Crescat looks at the total percentage of inversions across U.S. yield spreads, based off maturities as extended as the 30-year bond TMUBMUSD30Y, +0.00%  to something as short as the overnight fed-funds rate. In the chart below, this percentage of curve inversions jumped to 60% this week from around zero in early 2018. By measuring the number of inversions across instead of a single spread, the broader gauge would be less affected by individual idiosyncrasies that could muddy the economic signal of the bond-market recession indicator. ---Market Watch

Analysts, after cutting earnings forecasts for 2019, now expect a 1.7 percent year-over-year earnings decline in the first quarter, and some profit growth for the rest of the year, according to IBES data from Refinitiv. This year’s earnings growth already was expected to shrink dramatically compared with 2018, when steep corporate tax cuts fueled earnings gains of about 24 percent. Since the start of the year, the forecast for second-quarter profit growth has fallen to 3.0 percent from 6.4 percent, while estimated growth for the third quarter has dropped to 2.7 percent from 4.9 percent, based on Refinitiv’s data. The fourth-quarter growth estimate has come down as well, though it is still relatively strong, at 9.1 percent.---Reuters





美国联邦储备委员会本月将其温和的措施完全加倍，全球加息周期即将结束。 当然也有例外，但发达国家的大型中央银行 - 美联储，欧洲中央银行和日本央行 - 都对经济数据持续低迷做出了决定性的反应而暂停推动任何收紧政策。但是，市场中的一些人并没有从这种举动中获得任何安慰，而是将这些举措解释为避免即将到来的经济衰退的绝望措施。 这种担忧在债券市场上显而易见，其中三个月和10年期美国国债收益率之间的差距 - 美联储用来评估通胀风险的指标之一 - 已经倒转。 欧洲收益率曲线也趋于平缓，德国10年期政府借贷成本自2016年以来首次回落至零以下。---Reuters

“我们认为标准普尔指数从高位至少会下跌40％”，负责监管5200万美元的对冲基金Crescat Capital的宏观分析师Otavio Costa在接受采访时告诉MarketWatch。该投资公司的分析师表示， 收益率曲线反转，其中短期收益率高于其长期收益率，标志着标准普尔500指数10年牛市的可耻结局，该指数在2009年3月见底，从某种程度上说已创下历史新高的最长反弹。特别是，科斯塔表示，在全球经济增长前景暗淡的情况下，财政部到期的收益率差异越来越大，表明股市的熊市即将到来。科斯塔表示，投资者不应该只关注任何一次收益率反转，而是看美国收益率差价的总反转百分比，基于期限延长至30年期债券以至于短期隔夜联邦基金利率。 在下图中，这一曲线反转百分比本周从2018年初的零左右跃升至60％。通过测量众多反转而不是单一的反转，更宽的指标将不会受到个别特性的影响而误判经济。---Market Watch

根据Refinitiv的IBES数据，在分析了2019年的盈利预测后，分析师现在预计第一季度的盈利同比下降1.7％，而今年剩余时间的利润将有所增长。 与2018年相比（当时急剧的企业减税推动盈利增长约24％）今年的盈利增长预计将大幅缩水。 根据Refinitiv的数据，自今年年初以来，第二季度利润增长预测从6.4％降至3.0％，而第三季度的预计增长率从4.9％降至2.7％。 第四季度的增长预测也有所下降，尽管仍然相对强劲，为9.1％。---Reuters

A New Thought On The Market 对市场的一个新想法

I am modifying a chart I drew on March 10 and present a new thought on the course of the stock market. On the post titled A Possible S&P 500 Move (https://tradeideablog.blogspot.com/2019/03/a-possible-s-500-move-500.html), I predicted a possible S&P 500 trend reversal on March 20 because it's a day when full moon coincide with trend line crossing. The market actually dropped that day only to see it rallied on the day after. It turns out that the March 21 rally is a bull trap as the market is dropping big today (March 22). I think it's reasonable to say that the March 20 turning point is on course and the market is likely to continue working it's way down. The next trend reversal day is projected to be April 5, a new moon day. Project downside targets for the S&P 500 are it's 38% and 50% Fibonacci retracement levels near 2660 and 2600 respectively. Other bearish factors are as follows:

。Fear on global slow down as US Manufacturing PMI came in less than expected and German PMI sank below 50 to 44.7 which points to economic contraction.

。US 10 year treasury yield is now down to 2.418 while the German 10 Bund yield crash below zero. These are signs of worrying an slow down in economy.

。The yield curve nears full inversion （longer maturity government bond yield lower than shorter maturity government bond yield, it's an early recession indication ). Every duration higher than 1-month other than the 30-year long bond is inverted.

。Fear gauge VIX rallies over 25%, the biggest move since December 24,2018, indicates some serious fear.

。S&P500 drops back below the previous hard to break resistance 2817 level. Now it has again become resistance.

我正在修改我在3月10日绘制的图表，并对股票市场的走势提出了新的想法。在标题为“一个可能的标普500走法 ”（https://tradeideablog.blogspot.com/2019/03/a-possible-s-500-move-500.html）的帖子中，我预测3月20日标准普尔500指数可能会出现逆转趋势，因为这天是月圆，趋势线交叉与18日周期相吻合的一天。当天市场实际上是下跌了只是它在第二天却上涨。但事实证明，3月21日的反弹是一个看涨陷阱，因为市场今天（3月22日）又大幅下挫。我认为可以合理地说3月20日的转势正在进行中，市场可能会继续下滑。下一个趋势逆转日预计将是4月5日，因为该天势新月日与18日周期相吻合的一天。标准普尔500指数的下行目标估计是分别在2660和2600附近的38％和50％斐波纳契回撤位。其他看空因素如下：

。由于美国制造业采购经理人指数低于预期，德国采购经理人指数跌破至50至44.7，这表明经济收缩，美德经济在放缓。

。美国10年期国债收益率目前跌至2.418，而德国10年期国债收益率则跌破零点。这些都是担心经济放缓的迹象。

。收益率曲线接近完全倒置（较长期的政府债券收益率低于较短期政府债券收益率，这是早期经济衰退的迹象）。 除了30年期债券以外，每个持续时间超过1个月的期限都已倒置。

。恐惧指数VIX反弹超过25％，是自2018年12月24日以来的最大涨幅，表明存在一些严重的恐慌。

。S＆P500回落至前一个难以突破阻力位2817水平，现在再成为阻力。

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:45AM : Dow -231，  S&P 500 -25.23， Nasdaq -81.14, Russell 2000 -23.87, WTI crude oil -1.57%，Gold+0.41%， US dollar index+0.15%.

。Oversea markets: Shanghai ＋0.09%, Japan+0.09%, Hong Kong+0.14%, Germany-0.80%, UK -1.52%, France-1.40%.

。Weak sectors: OIH, FXI, EEM, XLF, EWG, IBB, IYM, SMH, XRT  Strong sectors: TLT, IYR,

U.S. President Donald Trump said trade negotiations with China were progressing and a final agreement “will probably happen,” adding that his call for tariffs to remain on Chinese imported goods for some time did not mean talks were in trouble. Trump, in a television interview aired on Friday, also said he expected to keep a 25 percent tariff on European light trucks amid separate ongoing trade talks with the European Union, but that companies could avoid it by building factories in the United States.---Reuters

US Manufacturing PMI prints 52.0, down from 53.0 (and expectations of 53.5) - 21-month low.US Services PMI prints 54.8, down from 56.0 (and expectations of 55.5). ---ZeroHedge

IHS Markit's Purchasing Managers' Index for German manufacturing sank to 44.7, the lowest level since 2012 and below economists' median estimate of 48. ---Seeking Alpha

German 10-year Bund yields dropped below zero for the first time in more than two years after German manufacturing contracted further, compounding fears of an economic slowdown across the euro area. In the U.K., Theresa May plans a third vote on her Brexit deal next week. ---Bloomberg

The European Union decided to give the United Kingdom an extension on negotiating an exit from the EU - but it won't be a long reprieve if UK Prime Minister Theresa May can't get a win in Parliament. European Council President Donald Tusk said Article 50 would be extended to May 22 if Parliament can reach a withdrawal agreement next week; but failing that, the deadline is extended only to April 12. In the meantime, the EU is continuing preparation for a no-deal Brexit. ---Wall Street Breakfast

Nike Inc (NKE -4.60%) missed North America quarterly sales estimates on Thursday, amid higher spending on new products and online initiatives, sending its shares down about 4 percent.Also weighing on sentiment was an in line revenue, the first time in six quarters that the company failed to beat revenue estimates. ---Reuters

Indonesia's national airline has told Boeing (BA -1.97%) it wants to cancel an order of 49 737 MAX 8 jets, saying that its passengers have lost confidence in the model after two crashes in five months, the New York Times reports.---Seeking Alpha

JinkoSolar Holding (JKS -11.78%): Q4 Non-GAAP EPADS of $0.40 misses by $0.08; GAAP EPADS of $0.44. Revenue of $1.12B misses by $130M. ---Seeking Alpha

Biogen (BIIB -2.04%) downgraded to Underweight with a $210 (7% downside risk) price target at Morgan Stanley after its aducanumab flop. Downgraded to Neutral at Citigroup and UBS. Shares down 1% premarket. ---Seeking Alpha





。美国总统唐纳德特朗普表示，与中国的贸易谈判正在取得进展，最终的协议“可能会发生”，并表示他要求关税继续保留在中国进口货物上一段时间并不意味着谈判陷入困境。特朗普在周五播出的一次电视采访中也表示，他希望在与欧盟进行单独的贸易谈判时，对欧洲轻型卡车征收25％的关税，但公司可以通过在美国建厂来避免这种关税。---Reuters

。美国制造业采购经理人指数为52.0，从53.0跌下来，和预期为53.5 ，创了21个月新低。美国服务业采购经理人指数从56.0和55.5预期下跌至54.8。 --- ZeroHedge

。IHS Markit的德国制造业采购经理人指数下滑至44.7，为2012年以来的最低水平，低于经济学家的中位数估计的48. ---Seeking Alpha

。德国10年期国债收益率在德国制造业进一步收缩后到两年多以来首次跌破零线，加剧了对整个欧元区经济放缓的担忧。 ---彭博

。欧盟决定让英国延长谈判退出欧盟的时间 - 但如果英国首相特里萨梅不能在议会获胜，这将不会是一个长期缓期。欧洲理事会主席唐纳德·图斯克说，如果议会下周达成脱欧协议，第50条将延长至5月22日;但如果没有这样做，截止日期只延长到4月12日。与此同时，欧盟正在继续为无协议脱欧做准备。 ---Wall Street Breakfast

。因为新产品和在线计划的支出增加耐克公司（NKE -4.6%）未能达到北美季度销售预期。此外，市场情绪受到影响，六个季度以来首次出现这种情况。公司未能超过营业额预期。 ---路透社

。据“纽约时报”报道，印度尼西亚的国家航空公司告诉波音公司（BA -1.97%）它要取消49架737 MAX 8喷气式飞机的订单，称其乘客在五个月内发生两次撞机后对该车型失去了信心.---Seeking Alpha

晶科能源控股（JKS -11.78%）：第四季度0.48美元的非美国通用会计准则EPADS小于预期0.08美元; GAAP EPADS为0.44美元。 1.12亿美元的营业额小于预期1.3亿美元。 ---Seeking Alpha

Biogen（BIIB -2.04%）在其aducanumab有问题后，摩根士丹利下调评级到减持，目标价210美元（7％下行风险）。花旗集团和瑞银集团降低评级至中立。 ---Seeking Alpha

Don't Fight The Fed, Don't Fight The Trend 不和联储作对,不和趋势作对

Us stock market has been defying gravity and keep on climbing higher. S&P 500 recovered above it's 200 day moving average and 2800 to 2817 band of hard to break resistance is showing technical strength. Yesterday the Federal Reserve decided to keep interest rate on hold for 2019, this dovish move is driving 10 year yield dropped significantly to near 2.50% from over 2.60%. Low bond yield makes the stock market more attractive. Good news from semiconductor companies AVGO, NVDA, AMD and MU and upgrade of AAPL helped the technology sector higher. Strengths in AMZN, GOOG and NFLX also provide confidence to investors. Under exposer and fear of missing out are also bullish for the stock market.  Don't fight the Fed is the motto. Now that the S&P 500 is only about 3.5% from it's all time high of 2940.91 level, it may not be surprising to see S&P 500 to go up and test that level.

我们的股票市场一直在反抗地心吸力并继续攀升。 标准普尔500指数收复200日移动均线及突破2800至2817难以突破的阻力区显示技术上的强势。 昨日美联储决定维持2019年利率不变，这一温和举措推动10年期国债收益率从2.60％以上大幅下跌至近2.50％。 低债券收益率使股市更具吸引力。 来自半导体公司AVGO，NVDA，AMD和MU的好消息以及AAPL的升级帮助科技术领域走强。 AMZN，GOOG和NFLX的强势也为投资者提供了信心。 低股票的参与和害怕损失机会的心态也对股市利多。 不和美联储作对是现在股市的座右铭。 现在标准普尔500指数仅仅距离历史高2940.91水平约3.5％，标准普尔500指数上涨并测试该水平是不足为奇的事情。

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:38AM : Dow +80.70，  S&P 500 +11.67， Nasdaq +49.35, Russell 2000 +12.49, WTI crude oil -0.48%，Gold+0.70%， US dollar index+0.55%. 

。Oversea markets: Shanghai ＋0.35%, Japan+0.20%, Hong Kong-0.85%, Germany-0.69%, UK -0.85%, France-0.20% 。

。Weak sectors:IBB, EWG, XLF, OIH  Strong sectors: SMH, IGV, IYR, FDN

。Federal Reserve abandoned any interest rate hikes this year and flagged an expected slowdown in the economy. ---Reuters

。The bond bull market is alive and well with yesterday's bond-bear-battering by The Fed extending this morning. 10Y Yields are back below 2.50% for the first time since Jan 2018. ---Zero Hedge

。The Bank of England has kept interest rates on hold amid continued uncertainty over Brexit. ---BBC

。Initial Jobless Claims -9K to 221K vs. +225K consensus, 230K prior (revised). Continuous Claims: -27K to 1.750M vs. 1.772M consensus, 1.777M prior (revised). ---Seeking Alpha

。Biogen and partner Eisai Co Ltd are ending two late-stage trials testing the experimental Alzheimer’s drug aducanumab, marking the latest setback for an industry racing to develop treatments for the memory-robbing disease. BIIB -28.82% ---Reuters

。Citi downgrades Micron (MU) from Neutral to Sell on the belief that shares and estimates will remain under pressure even after the earnings beat due to the DRAM crash. The firm notes that Micron guided weak due to the memory crash and cut capex, which are the appropriate steps. MU +9.59% ---seeking Alpha

。Needham upgrades Apple (AAPL) from Buy to Strong Buy and raises the target from $180 to $225, implying a 20% upside. Analyst Laura Martin cites survey work showing that Apple should be viewed as an ecosystem rather than a product company, which merits a higher valuation. Martin says the streaming service Apple is expected to announce on Monday should help reduce churn.  AAPL +3.25% ---Seeking Alpha

。Tencent Holdings signaled it will reduce its reliance on gaming in China, where a regulatory review and one-off investment costs led to its sharpest-ever quarterly profit drop and slowest annual profit growth in 13 years. TCEHY －3.05% ---Reuters

。太平洋时间早上7点38分：道指+80.70，标准普尔500指数+11.67，纳斯达克指数+49.35，罗素2000 +12.49，WTI原油-0.48％，黄金+ 0.70％，美元指数+ 0.55％。

。海外市场：上海+ 0.35％，日本+ 0.20％，香港-0.85％，德国-0.69％，英国-0.85％，法国-0.20％。

。弱势行业：IBB，EWG，XLF，OIH  强势行业：SMH，IGV，IYR，FDN


。美联储今年放弃了任何加息，并预示着经济将出现预期的放缓。 ---路透社

。债券牛市现在还活着，今天上午美联储延长债券对看空者的压力。 10Y收益率自2018年1月以来首次回落至2.50％以下.---ZeroHedge

。由于英国退欧的持续不确定性，英格兰银行维持利率不变。 --- BBC

。首次申请失业救济人数为-9K至221K，而预期为+ 225K，之前为230K（经修订）。连续索赔：-27K至1.750M对1.772M共识，先前1.777M（经修订）。 ---Seeking Alpha

。Biogen （BIIB）和合作伙伴Eisai Co Ltd正在结束两项测试实验性阿尔茨海默氏症药物aducanumab的后期试验，标志着一项行业竞赛开发治疗记忆性疾病的最新挫折。BIIB -28.82% ---路透社

。花旗集团将美光（MU）评级从“中性”下调至“卖出”，认为即使在DRAM崩盘导致盈利好于预期之后，股票和估计仍将面临压力。该公司指出，由于记忆崩溃和削减资本支出，Micron指引弱势，这是适当的步骤。MU +9.59% ---Seeking Alpha

。Needham将Apple（AAPL）从买入升级至强买，并将目标从180美元上调至225美元，意味着20％的上行空间。分析师劳拉·马丁（Laura Martin）引用调查结果显示，苹果应该被视为一个生态系统，而不是一个产品公司，这令它的价值更高。马丁表示，预计苹果周一宣布的流媒体服务将有助于减少客户流失。AAPL +3.25% ---Seeking Alpha

。腾讯控股(TCEHY)表示将减少对中国游戏的依赖，其中监管审查和一次性投资成本导致其有史以来最大的季度利润下降和13年来最慢的年度利润增长。TCEHY －3.05% ---Reuters

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 8:18AM : Dow -85，  S&P 500-9.16， Nasdaq -11.51, Russell 2000 -8.82, WTI crude oil ＋0.71%，Gold-0.24%， US dollar index+0.05%. 

。Oversea markets: Shanghai -0.01%, Japan+0.20%, Hong Kong-0.49%, Germany+1.41%, UK -0.18%, France-0.50% 。

。Weak sectors:EWG, FXI, XRT, GDX, SMH, IYR, IGV  Strong sectors: OIH, TLT

。The Federal Open Market Committee wraps up its two-day meeting Wednesday and is not expected to raise interest rates. Markets instead expect Fed officials to lower their economic forecasts and to say there will be no more hikes this year. Should the policymaking Federal Open Market Committee not deliver on any of those measures, the result may not be pretty. ---CNBC

。Crude Inventory -9.59M Barrels vs +602K Expected. Cushing -468K. WTI crude oil is up 0.53%. ---CNBC

。Apple (NASDAQ:AAPL) announces the second generation of its AirPods, which include the new in-house H1 chip developed for headphones and the option of either a standard case or new Wireless Charging Case. The AirPods also offer hands-free Siri for the first time. AAPL -0.12% ---Seeking Alpha

。FedEx Corp cut its 2019 profit forecast for the second time in three months and fueling fresh worries it is losing ground in Europe to delivery rivals United Parcel Service Inc and Deutsche Post DHL Group. FedEx (FDX): Q3 Non-GAAP EPS of $3.03 misses by $0.07; GAAP EPS of $2.80. Revenue of $17B (+3.0% Y/Y) misses by $700M. FDX－4.82%---Seeking Alpah

。The world’s biggest planemaker Boeing faced growing obstacles to returning its grounded 737 MAX fleet to the skies on Wednesday, while chilling details emerged of an Indonesian crash with similarities to the Ethiopian disaster. Experts suspect an automated system, meant to stop stalling by dipping the nose, may be involved in both cases, with pilots unable to override it as their jets plunged downwards. BA＋1.69%---Reuters


。太平洋时间上午8:18：道指-85，标准普尔500-9.16，纳斯达克-11.51，罗素2000 -8.82，WTI原油+ 0.71％，黄金-0.24％，美元指数+ 0.05％。

。海外市场：上海-0.01％，日本+ 0.20％，香港-0.49％，德国+ 1.41％，英国-0.18％，法国-0.50％。

。弱势行业：EWG，FXI，XRT，GDX，SMH，IYR，IGV  强势行业：OIH，TLT

。联邦公开市场委员会周三结束了为期两天的会议，预计不会加息。相反，市场预计美联储官员将降低其经济预测，并表示今年将不再加息。 如果政策制定联邦公开市场委员会没有这样做，结果可能不是很好。---CNBC

。原油库存减小9.59百桶，预期为增加602K。 WTI 原油上升0.53%。---CNBC

。Apple（AAPL）宣布推出其第二代AirPods，其中包括为耳机开发的新内部H1芯片，以及标准外壳或新无线充电外壳的选项。 AirPods还首次提供免提Siri。AAPL -0.12%---Seeking Alpha

。联邦快递公司（FDX）在三个月内第二次下调其2019年盈利预测，并引发新在欧洲正在输给竞争对手联合包裹服务公司（United Parcel Service Inc）和德国邮政DHL集团（Deutsche Post DHL Group）的担忧。 联邦快递（FDX）：第三季度非美国通用会计准则每股收益3.03美元，低于预期0.07美元; GAAP每股收益2.80美元。 17亿美元的营业额（同比增长3.0％）低于预期7亿美元。FDX －4.82%---Seeking Alpha

。周三，世界上最大的飞机制造商波音公司面临越来越大的障碍将其停靠的737 MAX舰队返回天空。令人毛骨悚然的印尼事故细节与埃塞俄比亚灾难相似。 专家怀疑一个通过降低机鼻来阻止失速的自动系统的失灵令飞行员无法在他们的飞机向下坠落时矫正它。BA ＋1.69%---路透社

AMD Broke out AMD突破

Advanced Micro Devices, Inc. (AMD 26) operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

。Google unveiled its Stadia cloud gaming platform. The platform runs on Google Cloud and is powered by custom GPUs from AMD, giving the company a big data center win. Morgan Stanley says AMD (NASDAQ:AMD) has a "significant opportunity" from cloud gaming chips citing its "surprise" success in winning part of Google's (GOOG ) gaming initiative. Analyst Joseph Moore: "We continue to be impressed by AMD’s progress at using innovative approaches to expand its markets in all segments."

。AMD‘s Forward PE is 26， EPS growth this year is estimated be up 126%.

。AMD's Short interest of 11.91% should also help driving AMD up.

。Strong semiconductor sector in general is bullish for AMD.

。Technically，AMD broke above 5 month trading range high 25.52 on 2X average volume.  Momentum is up. Breaking above Bollinger high band is also an indication of continue up. and will likely to up and challenge resistances at 28.5 and 31.

Advanced Micro Devices，Inc。（AMD 26）为全球半导体运营公司。该公司分为两个部门：计算机和图形;和企业，嵌入式和半定制。其产品包括x86微处理器作为加速处理单元（APU），芯片组，分立和集成图形处理单元（GPU）以及专业GPU;和服务器和嵌入式处理器，以及用于游戏控制台的半定制片上系统（SoC）产品和技术。

。Google推出了Stadia云游戏平台。该平台在谷歌云上运行，由AMD的定制GPU驱动，为该公司赢得了大数据中心。摩根士丹利表示，AMD（AMD）从云游戏芯片中获得了“重大机遇”，称其在赢得部分谷歌（GOOG）游戏计划方面取得了“惊人的”成功。分析师约瑟夫·摩尔：“我们继续对AMD在使用创新方法在所有领域拓展市场的进展印象深刻。”

。AMD前瞻PE 为26，今年美股盈利预计将增长126％。

。AMD11.91％的空头应该有助于推动AMD的上升。

。普遍强势的半导体行业（SMH）也对AMD有利。

。技术上，AMD以两倍平均成交量突破5个月交易区高点25.52。动力向上。突破布林带高端也是续涨的显示。AMD上升并挑战28.5和31的阻力位的可能性大。

NVDA Going Higher NVDA 会继续上升

NVIDIA Corporation（NVDA 175.47） operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and data centers; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

。NVDA broke above 4 month trading range high 174.50 and possible fill gap to 190 -195 area.

。Bullish Bollinger upper band break means higher prices to come.

。Wall Street analysts believe Nvidia ’s latest presentation at its annual developer conference bodes well for the chip maker’s future. Postitive comments from Citi, Rosenbratt and Stifel analyst. JPMorgan analyst Harlan Sur on Tuesday reiterated his Overweight rating for Nvidia stock, citing the rising number of developers using the company’s graphics programming platform.

。Positive general stock market looks still has room to run and should drive market favorite like NVDA even higher.

NVIDIA公司（NVDA 175.47）为全球视觉计算运营公司。 它分为两部分，GPU和Tegra处理器。 GPU部门提供处理器，包括用于PC游戏和主流PC的GeForce; GeForce NOW基于云的游戏流媒体服务; Quadro适用于从事计算机辅助设计，视频编辑，特效和其他创意应用的设计专业人员; 特斯拉人工智能（AI）利用深度学习，加速计算和通用计算; GRID，通过云和数据中心提供NVIDIA图形的强大功能; 适用于AI科学家，研究人员和开发人员的DGX; 和加密货币特定的图形处理单元。

。NVDA今天向上突破4个月的交易区间上限价位174.50，可能会向上填空至190-195区域。

。突破布林导带（Bollinger Band）上限意味着会走向更高的价位。

。Wall Street分析师认为，Nvidia在其年度开发者大会上的最新演讲预示着该芯片制造商的未来。 Citi，Rosenbratt和Stifel分析师均发表正面评论。 摩根大通（JPMorgan）分析师Harlan Sur周二重申了他对Nvidia股票的增持评级，理由是越来越多的开发人员使用该公司的图形编程平台。

。正面的美国股市看起来还有上涨空间可以推动像NVDA这样的市场热门股上升。

Reasons For The Run Away Market and TSLA,NFLX,BA,NVDA 市场上升的原因和TSLA，NFLX，BA，NVDA

。Pacific Time 7:48AM : Dow +121，  S&P 500 +9.66， Nasdaq +23.44, Russell 2000 -2.05, WTI crude oil -0.05%，Gold+0.46%， US dollar index-0.09%. 

。Oversea markets: Shanghai -0.18%, Japan-0.08%, Hong Kong+0.19%, Germany+1.26%, UK +0.54%, France+0.47% 。

。Weak sectors:TLT，IYR  Strong sectors: EWG, SMH, IYM, GDXJ, XLY, GDX

Briefing.com:

Reasons for the market going up:

。A Bank of America/Merrill Lynch fund manager survey that indicates the allocation to equities is at its lowest since September 2016.  This indication suggests many fund managers are missing/trailing this rally effort and will need to play catch up, providing another source of buying fuel to keep the rally going.

。Better-than-expected employment data out of the UK and a better-than-expected survey of economic sentiment out of Germany, which have helped stoke the narrative that the global economy is bottoming (or has bottomed).

。Technical buying momentum following the breakout of the S&P 500 above its November closing high.

。An expectation that major central bank policy announcements this week (FOMC on Wednesday and Bank of England on Thursday) will reinforce the view that major central banks aren't in any hurry to raise policy rates.

。A fear of missing out on further gains.

CNBC:

。Tesla （TSLA ＋0.07%）— CEO Elon Musk has not sought pre-approval for any tweet related to the automaker since striking a settlement with the Securities and Exchange Commission (SEC), according to a filing by the commission with a judge. The SEC is seeking to hold Musk in contempt of court for alleged violation of the settlement agreement.

。Netflix（NFLX －1.03%） — CEO Reed Hastings said the video streaming service will not make its movies or TV shows available on the new video offering that Apple is expected to announce next week. Hastings said he prefers that customers view Netflix content on the company’s own service.

。Boeing （BA ＋1.54%）— Canadian officials are re-examining the approval the country gave to Boeing’s 737 MAX jets. Transport Minister Marc Garneau said that no action might be taken, but that the move was wise in light of the worldwide grounding of the aircraft following two fatal crashes in the past few months.

Seeking Alpha:

Nvidia (NVDA +4.26%%) CEO Jensen Huang gave the keynote address at the GPU Technology Conference late yesterday and analysts found a few notes of interest though the focus remains on today's investor day event.

。Citi's Atif Malik liked the announcement Nvidia will offer cloud gaming in conjunction with SoftBank and LGU+.

。Rosenblatt's Hans Mosesmann says Huang "purposely stressed the non-hardware related aspects of the Nvidia approach," which now includes "domain specific libraries and that may have competitors reconsider a broad thrust into this market."

。Stifel's Kevin Cassidy was "impressed with the expanding range of GPUs with price/performance/power trade-offs to address markets from supercomputers to toy robots" and says the company is taking a page from Intel's strategy that "made the x86 CPU the broadest used CPU architecture."

。太平洋时间上午7:48：道指+121，标普500 +9.66，纳斯达克+23.44，罗素2000-2.05，WTI原油-0.05％，黄金+ 0.46％，美元指数-0.09％。

。海外市场：上海-0.18％，日本-0.08％，香港+ 0.19％，德国+ 1.26％，英国+ 0.54％，法国+ 0.47％。

。弱势行业：TLT，IYR  强势行业：EWG，SMH，IYM，GDXJ，XLY，GDX

Briefing.com：

市场上升的理由：

。美国银行/美林证券基金经理调查显示，股票的配置处于2016年9月以来的最低点。这一迹象表明，许多基金经理正在失去/落后于这一反弹行动，需要追赶，提供另一个购买来源燃料以保持反弹。

。英国的就业数据好于预期，德国的经济情绪调查好于预期，这有助于激发全球经济触底（或触底）的说法。

。标准普尔500指数突破11月收盘高位后技术性买盘增强。

。市场预期本周央行的主要政策公告（周三FOMC和周四英国央行）将强化主要央行不急于提高政策利率的观点。

。害怕错过进一步的收益。

CNBC：

。根据委员会向法官提交的文件，特斯拉（TSLA ＋0.07%） - 首席执行官伊隆马斯克自从与美国证券交易委员会（SEC）达成和解协议以来，并没有寻求预先批准任何与该汽车制造商有关的推文。美国证券交易委员会正在寻求让马斯克因涉嫌违反和解协议而藐视法庭。

。Netflix（NFLX －1.03%）首席执行官里德黑斯廷斯表示，视频流媒体服务不会在苹果预计将于下周公布的新视频产品上播放其电影或电视节目。黑斯廷斯表示，他更喜欢客户在公司自己的服务上查看Netflix内容。

。波音（BA ＋1.54%） - 加拿大官员正在重新审视该国对波音737 MAX喷气式飞机的批准。交通部长Marc Garneau表示不会采取任何行动，但鉴于过去几个月发生两次致命撞机后飞机全球停飞，此举是明智之举。

Seeking Alpha：

Nvidia（NVDA + 4.16％）首席执行官Jensen Huang昨天晚些时候在GPU技术大会上发表了主题演讲，分析师发现了一些感兴趣的地方：

。花旗的Atif Malik喜欢Nvidia将与SoftBank和LGU +一起提供云游戏的消息。

。Rosenblatt的Hans Mosesmann表示，Huang“故意强调Nvidia非硬件相关方面，”现在包括“领域特定的图书馆，可能让竞争对手重新考虑是否 进入这个市场。”

。Stifel的Kevin Cassidy对扩大的GPU系列产品印象深刻，其中包括价格/性能/功耗权衡，以满足从超级计算机到玩具机器人等市场的需求。“该公司正在采取英特尔的战略”让x86 CPU成为最广泛使用的“ CPU架构。“

What to do with JKS, GBTC, AAPL, ACB and ROKU 现在如何处理JKS，GBTC，AAPL，ACB和ROKU

The follow recent mentioned stocks have been acting good. Here are suggestions of what to do with them now:

Jinko Solar (JKS 19.92)

Suggest continue to hold for now if bought. Mentioned as Buy candidate on February 19, 2019 at 18.25 (https://tradeideablog.blogspot.com/search?q=jks) .  Good valuation and bullish chart still point to higher prices. JKS is still on CCI buy signal. Resistances 21.80 then 25. Support is 19.

Bitcoin Trust ( GBTC 4.88)

Suggest continue to hold for now if bought. Mentioned as Buy candidate on March 6, 2019 at 4.65 (https://tradeideablog.blogspot.com/search?q=gbtc). Bitcoin looks ready to break above 4000 and GBTC to break above 5.  GBTC is CCI Buy signal. If 5 is broken it may go to 5.5 then 6.5.  Support is 4.4.

Apple Inc. (AAPL 188.39)

Suggest taking profit for now if bought. Mentioned as Buy candidate on March 11, 2019 at 178.88 (https://tradeideablog.blogspot.com/search?q=aapl) . Stock is overbought and near 200 day moving average at 189.38 and may not be able to get through right away. Support is 184.

Aurora Cannabis (ACB 9.94)

Suggest continue to hold for now if bought. Mentioned as Buy candidate on March 12, 2019 at 8.15 ( https://tradeideablog.blogspot.com/search?q=acb). Company hired strategic advisor Nelson Peltz to look for partnership. Coca Cola, Mondelez International, Heinz and Roche are speculated as potential partner.  Stock is overbought but good news may come soon. Resistances 11 then 12.5, Support 9.

Roku Inc (ROKU 63.61)

Suggest continue to hold for now if shorted. Mentioned as Short Sell candidate on March 13, 2019 at 61.73 (https://tradeideablog.blogspot.com/search?q=ROKU).   Needham rated stock Top Pick today against downgraded by 2 analysts on March 13.  Valuation too high and bearish chart indicates more downside action to come.  ROKU has CCI Sell signal. Downside supports are 55 then 50. Resistance is 84.

最近提到的股票表现良好。 以下是有关如何处理它们的建议：

晶科太阳能（JKS 19.92）

如果已买了建议现在继续持有。 在2019年2月19日8.25时（https://tradeideablog.blogspot.com/search?q=jks）提到为买入候选股。 良好的估值和看涨图形仍然指向更高的股价。 JKS仍然在CCI买入信号。 阻力21.80然后25。 支撑是19。

比特币信托（GBTC 4.88）

如果已买了建议现在继续持有。 在2019年3月6日4.65 时（https://tradeideablog.blogspot.com/search?q=gbtc）提到为买入候选股。 比特币看起来准备突破4000以上而GBTC会突破5以上。GBTC有CCI买入信号。 如果5被向上击破，它可能会达到5.5然后是6.5。 支撑是4.4。

Apple Inc.（AAPL 188.39）

如果已购买，建议现在获利。 在2019年3月11日178.88时（https://tradeideablog.blogspot.com/search?q=aapl）提到为买入候选股。 股票处于超买状态，接近200日移动平均线189.38，可能无法立即通过。 支撑是184。

极光大麻（ACB 9.94）

如果买了建议现在继续持有。 在2019年3月12日8.15时（https://tradeideablog.blogspot.com/search?q=acb）提到为买入候选股。 公司聘请战略顾问Nelson Peltz寻求合作伙伴关系。 可口可乐，Mondelez International，Heinz和Roche被推测为潜在的合作伙伴。 股票处于超买状态，但看来快会有好消息。 阻力11然后12.5，支撑9。

Roku Inc（ROKU 63.61）

如果已做空，建议现在继续持有。 在2019年3月13日61.73时（https://tradeideablog.blogspot.com/search?q=ROKU）提及为卖空候选股。 今日Needham评级股票为首选买入股与3月13日被2位分析师下调评级相抗衡。估值太高且有看跌图形显示会有更多的下行动作。 ROKU有CCI卖出信号。 下行支撑位是55，然后是50。阻力位是84。

Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:44 AM : Dow +3.5,  S&P 500 +8.8， Nasdaq +36, Russell 2000 +10.90, WTI crude oil+0.96%，Gold+0.11%， US dollar index-0.09%. 

。Oversea markets: Shanghai +2.47%, Japan+0.62%, Hong Kong+1.37%, Germany-0.12%, UK +0.79%, France+0.08% 。

。Weak sectors:none  Strong sectors: OIH, FXI, XLF, EEM, XLY, SLV, SOCL

。The S&P 500 just posted its best week this year and is now 4 percent from the old historic closing high. Traders increasingly believe global central banks have their backs. Volatility remains low and bond yields are continuing to drop.  Quadruple witching (quarterly expiration of index options and futures, and stock options and futures) has added a lot of volume this week and likely contributed to the upside rally. But the question is whether the expiration exhaust near term demand. The S&P 500 tends to be lower in the week after quadruple witching. ---CNBC

。According to a report by the South China Morning Post, the meeting between US President Donald Trump and Chinese counterpart Xi Jinping to end the trade war which was tentatively pushed back from March to April, may be pushed back again, this time to to June, as the two leaders "will not be able to finalize an agreement by April."The Fed is the big story the week ahead, and while it should sound dovish for markets, some analyst say the reaction could be more neutral as it is already priced in. ---CNBC

。As the U.S. and the EU struggle to iron out their differences on trade, Trump said, “they are willing to talk to us and if they don’t talk to us, we’re going to do something that’s going to be pretty severe economically. We’re going to tariff a lot of their products.” The president was almost certainly referring to imports of cars from the EU, a threat he has made in the past. ---ZeroHedge

。Russia said it will take a wait and see approach on whether to extend OPEC+ output cuts because the market has achieved a fragile balance, contrasting with Saudi Arabia’s view there’s still more to be done to restore oil market fundamentals.---Bloomberg

。February saw smartphone shipments in China collapse to their lowest levels in six years, indicating that the super-saturated industry has failed to turn around amidst a global economy that is grinding slower. Shipments to China came in at 14.5 million units for February, down 19.9% from last year, according to Reuters, who cited the China Academy of Information and Communications Technology. It's the lowest total since February 2013. AAPL ＋1.14%---ZeroHedge

。Needham downgrades Facebook (FB) from Buy to Hold citing concerns about the financial impact of the pivot towards privacy and encrypted messages, growing regulation risks, and "horrific images uploaded to FB (like the recent New Zealand events)" that are hard to block but hurt FB's brand. More action: Bank of America Merrill Lynch lowers its Facebook PT from $205 to $187 saying that "a more privacy-centric platform could raise questions on three-year growth."  FB-2.31% ---Seeking Alpha

。Investigators in Ethiopia said its Boeing (BA)737 MAX 8 probe found "clear similarities" between last week's crash and the October crash of a Lion Air plane that killed 189 people. Boeing said Sunday it was finalizing the development of a software upgrade and a revision of pilot training for its 737 MAX, intended to address how the aircraft's flight control system - MCAS - responds to erroneous sensor inputs.  BA -2.02%
---Seeking Alpha





。太平洋时间上午7:44：道指+3.5，标普500 +8.8，纳斯达克+36，罗素2000 +10.90，WTI原油+ 0.96％，黄金+ 0.11％，美元指数-0.09％。

。海外市场：上海+ 2.47％，日本+ 0.62％，香港+ 1.37％，德国-0.12％，英国+ 0.79％，法国+ 0.08％。

。弱势行业：无   强势行业：OIH，FXI，XLF，EEM，XLY，SLV，SOCL

。标准普尔500指数刚刚公布了今年最好的一周，现在距离历史最高收盘价只差4％。炒家越来越相信全球央行正在支持股市。波动指标仍然很低，债券收益率继续下降。四重魔日（指数期权和期货以及股票期权和期货到期）使上周交易量增加了，可能有助于上行反弹。但问题是近期的到期交易量是否已令需求减小。标准普尔500指数在经历四重魔日之后的一周内往往会走低。 --- CNBC

。据“南华早报”报道，美国总统唐纳德特朗普与中国国家主席习近平3月至4月为结束贸易战的会晤可能会再次被推迟到6月，因为这两位领导人“无法在4月前完成协议。”美联储是未来一周的重大事件，虽然市场认为联储策略会温和，但一些分析师表示，由于已经被反应国，市场反应可能会不大。--- CNBC

。特朗普说，“随着美国和欧盟努力消除贸易分歧，他们愿意与我们交谈，如果他们不与我们交谈，我们将做一些对经济上相当严重的事情。我们将对他们的许多产品征收关税。“总统几乎肯定是指从欧盟进口汽车，这是他过去所做的威胁。 --- ZeroHedge

。俄罗斯表示，对于是否延长石油输出国组织及其他国家产量削减将采取观望态度，因为市场已经实现了脆弱的平衡。这与沙特阿拉伯的观点相反，沙特觉得对于恢复石油市场基本面仍有更多工作要做。---彭博社

。 2月份中国智能手机出货量萎缩至6年来的最低水平，表明超饱和行业未能在全球经济衰退中扭转局面。路透社援引中国信息通信技术研究院的话报道，2月份对中国的出货量为1450万台，比去年下降了19.9％。 这是自2013年2月以来的最低总数。AAPL ＋1.14% --- ZeroHedge 

。Needham将Facebook（FB）的评级从买入下调至持有，理由是对偏于实行隐私和加密信息的财务影响，监管风险增加，以及“不能阻止上传到FB的可怕图像（如最近的新西兰事件）”的担忧而伤害了FB的品牌。 美国银行美林（Bank of America Merrill Lynch）将Facebook 目标价从205美元下调至187美元，称“更加以隐私为中心的平台可能会引发三年增长的问题。”  FB-2.31%---Seeking Alpha

。埃塞俄比亚的调查人员表示，其波音（BA）737 MAX 8调查发现上周坠机事件与10月坠毁的狮子航空飞机失事之间存在“明显的相似之处”。 波音公司周日表示，它正在最终确定软件升级的发展和737 MAX飞行员培训的修订，旨在解决飞机的飞行控制系统 -  MCAS  - 如何响应错误的传感器输入。 BA -2.02% ---Seeking Alpha