Morning Market News Digest 早盘市场新闻摘要

。Pacific Time 7:42AM : Dow -136, S&P 500 -20.27， Nasdaq -66.16, Russell 2000 -6.87 WTI crude oil －3.55%，Gold ＋0.86%， US dollar index -0.32%.

。Oversea markets: Shanghai－4.40%%, Japan-2.01%, Hong Kong-1.91%, Germany -0.76%, UK -0.84%, France-0.84%.

。Weak sectors: OIH, FXI, SOCL, XLY, EEM, XRT, SMH, IBB, IGV  Strong sectors: SLV, GLD, GDX

。February Nonfarm Payrolls: +20K much worse than consensus +181K, +311K previous (revised from 304K). Unemployment rate: 3.8% vs. 3.9% consensus, 4.0% previous. ---Seeking Alpha

。Looking to reduce its aggregate oil price risk, Norway has decided to exclude exploration and production companies within the energy sector from its $1T sovereign wealth fund. Oil and gas stocks are sliding on the news, with Royal Dutch Shell (RDS.A, RDS.B) and BP down 1.6% and Total (NYSE:TOT) 0.8% lower (the fund owns more than 2% of the companies). ---Seeking Alpha

。On Thursday, the New York Times reported that the U.S. and China have come to a broad agreement that would result in the removal of some tariffs in both countries. This involves China buying more American goods and opening some of its markets further to foreign companies, it said. But the report said negotiators haven’t locked down key details, like when the tariffs will be removed and how to ensure China holds up its end of the deal. It added, citing two people familiar with Beijing’s position, that Chinese officials were wary about the final terms due to Trump’s bent for last minute-changes.

---Market Watch

。China on Friday reported worse than expected trade data for the month of February, customs data showed amid Beijing’s trade dispute with the U.S. February dollar-denominated exports fell 20.7 percent, compared to an expected 4.8 percent fall. February dollar-denominated imports fell 5.2 percent, compared to an expected 1.4 percent fall. China’s overall trade surplus for the month came to $4.12 billion — much weaker than an expected $26.38 billion. ---CNBC

。Downside risks in the global economy are likely to persist over the medium to long term, pressured by the Sino-U.S. trade war and a slowdown in China, Japan’s top financial diplomat said. Masatsugu Asakawa, vice finance minister for international affairs told Reuters “It’s inevitable for Chinese economy to slow, with its potential growth lowering as a trend.”  “It is unlikely to falter greatly as there’s room for authorities’ stimulus measures.” ---Reuters

。U.S. Senator Elizabeth Warren, a 2020 Democratic presidential candidate, unveils a plan to break up tech giants like Amazon (AMZN -2%), Facebook (FB -1%), and Google (GOOGL -0.9%) as part of “big, structural changes to the tech sector to promote more competition.”
While the blog post doesn't mention Apple (AAPL -0.9%), Warren's campaign confirms the iPhone company's inclusion in the plan and says Apple needs to choose between running the App Store or making apps. ---Seeking Alpha

。Cowen downgrades Exxon Mobil (XOM)  shares to Market Perform from Outperform and slashes its 12-month stock price target to $75 from $100.  XOM 1.45%---Seeking Alpha

。Costco Wholesale (COST): Q2 GAAP EPS of $2.01 beats by $0.31. Revenue of $35.4B (+7.3% Y/Y) misses by $250M.  COST +5.12%---Seeking Alpha

。 Jefferies issued bearish call on Cannabis producer Tilray (TLRY) . Analyst Owen Bennett (Underperform/$61) says the company is not as well-positioned as its peers in terms of intellectual property, adding that his 10-year discounted cash flow (DCF) model shows that it is overvalued.  TLRY -1.92% ---Seeking Alpha

。2月非农就业人数：+ 20K远低于市场预期+ 181K，之前为+ 311K（从304K修正）。失业率：3.8％，市场预期为3.9％，之前为4.0％。 ---Seeking Alpha

。为了降低其总体油价风险，挪威已决定将其能源部门内的勘探和生产公司排除在其1万亿美元的主权财富基金之外。原油和天然气股票因而下跌。荷兰皇家壳牌公司（RDS.A，RDS）和BP下跌1.6％，道达尔（TOT）下跌0.8％（该基金拥有超过2％的公司）。---Seeking alpha

。周四，“纽约时报”报道，美国和中国已达成广泛协议，将导致两国取消部分关税。它说，这涉及中国购买更多的美国商品，并进一步向外国公司开放一些市场。但该报告称，谈判代表尚未锁定关键细节，例如何时取消关税以及如何确保中国遵守协议。它引用了两位熟悉北京立场的人士的话说，由于特朗普最后一刻的改变，中国官员对最终条款持谨慎态度。---Market Watch

。中国周五公布的2月份贸易数据差于预期，海关数据显示北京与美国的贸易纠纷之下2月以美元计价的出口下降20.7％，而预期为下降4.8％。 2月美元计价的进口下降5.2％，而预期为下降1.4％。中国本月的整体贸易顺差为41.2亿美元 - 远低于预期的263.8亿美元。 --- CNBC

。日本最高金融外交官表示，受中美贸易战和中国经济放缓的影响，全球经济的下行风险可能在中长期内持续存在。国际事务副财政部长Masatsugu Asakawa告诉路透社“中国经济放缓是不可避免的，其潜在增长率将是一种下跌趋势。”“由于当局采取刺激措施的空间，因此动摇不会太大。” ---Reuters

。美国参议员伊丽莎白沃伦，2020年民主党总统候选人，公布了一项计划，将亚马逊（AMZN -2％），Facebook（FB -1％）和谷歌（GOOGL -0.9％）等科技巨头分拆，这是 “大， 科技行业的结构性变化，以促进更多的竞争的一部份。“虽然没有提及Apple（AAPL -0.9％），但Warren的活动证实iPhone公司已纳入该计划，并表示Apple需要在运行App Store或制作应用程序之间做出选择。---Seeking Alpha

。Cowen将埃克森美孚（XOM）股票评级从优于大盘下调至市场表现并将其12个月的股价目标从100美元下调至75美元后。XOM -1.45% ---Seeking Alpha

。Costco Wholesale（COST）：第二季度GAAP每股盈利2.01美元，上涨0.31美元。营业额为35.4亿美元（同比增长7.3％），低于预期2.5亿美元。COST +5.12%---Seeking Alpha

。在Jefferies不看好大麻生产商Tilray（TLRY）。 分析师Owen Bennett（落后大市/ 61美元）表示，该公司在知识产权方面的地位不如同行，并补充说他的10年贴现现金流（DCF）模型显示其价值被高估。TLRY -1.92% ---Seeking Alpha