Oversea markets: Shanghai-0.41%, Japan+0.24%, Hong Kong -0.57, Germany-1.84%, UK-0.89%, France-1.77%.
Weak sectors: SMH, IGV, SOCL, FDN, EWG, IBB, XLY Strong sectors:XLF, OIH, TLT
US stock market opened down sharply as China take strong stand against US in trade talk and several semiconductor company frozen supply of critical software and hardware components to Huawei which worsen US-China trade war. Nasdaq dropping the most as semiconductor stock slide. Semiconductor ETF SMH touched it's 200 day moving average and has dropped 15% from its April high. AAPL is down over 3.5% as traders speculate it may be a target if China retaliates. All 3 major market indexes Dow, S&P 500 and Nasdaq are all below their 50 day moving averages now (Dow 26071, S&P 500 2870, Nasdaq 7875). They are down trending towards their 200 day moving average supports at Dow 25430, S&P 500 2776 and Nasdaq 7533. Since Dow is the closest to 200 day moving averages, the 25430 level should be watched closely. Dropping below this level means significant downside for the US stock market. Odd favors continue downside for the US stock market.
。Beijing is in “no rush” to resume trade talks between the U.S. and China, according to the South China Morning Post. Chinese analysts said China is prepared to suspend talks if President Trump wasn’t “prepared to be realistic,” the newspaper said. China invited Secretary Mnuchin to Beijing for continued talks but an international relations expert at the Chinese Academy of Social Sciences said, “there is no need to get into frantic calculations about when he will come if the US continues to lack sincerity.” ---CNBC
。Xilinx XLNX, and other U.S. chip makers, including Intel Corp.( INTC)Qualcomm Corp.(QCOM) , Micron (MU) and Broadcom Inc. (AVGO )， also Google （GOOG） have frozen the supply of critical software and hardware components to Huawei. ---Bloomberg
。Oil made a strong start to the week after Saudi Arabia and other OPEC producers signaled their intention to keep oil supplies constrained for the rest of the year, while pledging to prevent any genuine shortages. ---Bloomberg
。With the first quarter earnings´season almost over, we can say that the risk of an imminent earnings recession is far greater than what is discounted by an optimistic market.We must start by understanding that the “positive” surprise seen in this earnings’ season in the US has been driven by two dangerous factors: The first, a very low base, as consensus has consistently downgraded estimates prior to the publication of Q1 results. The second is buybacks. Almost the entire EPS surprise in the S&P 500 comes from buybacks. ---Daniel Lacalle via Zero Hedge
。With the trade war between the US and China suddenly erupting after a 5-month ceasefire, CCTV 6, the movie channel of China's leading state television broadcaster, aired three anti-American movies last week, reported What's On Weibo. The three movies are Korean war films: Heroic Sons and Daughters (1964), Battle on Shangganling Mountain (1954), and Surprise Attack (1960), which aired about one week after President Trump raised an existing 10% tariff on $200 billion worth of Chinese goods to 25%. All last week, anti-American propaganda flourished across the country, with the slogan "Wanna talk? Let's talk. Wanna fight? Let's do it. Wanna bully us? Dream on!" going viral on Chinese social media platforms.---Zero Hedge
。The rich appear to be losing faith in this bull market. The 750 members of Tiger 21, a coalition of investors with some $75 billion in assets, increased their cash holdings by 20% in the first quarter, bringing the group’s total allocation to levels not seen since the start of 2013. The move also marks Tiger 21’s first cash-raising effort in three years.Here’s where Tiger 21’s allocation stands now: ---Market Watch
。The 2019 crypto rally began attracting plenty of attention over the past couple of weeks - just in time for Bitcoin (BTC-USD, GBTC) to plunge from about $8.3K to $7K last Thursday/Friday. That's reversed in a big way over the weekend, with Bitcoin climbing all the way back to last week's high. ---Seeking Alpha
。After Nvidia (NVDA) reported an earnings beat Thursday afternoon but pointedly did not reiterate earlier annual guidance, analysts were split about what to do with that information Friday: Five dropped their price targets and seven increased their targets, according to FactSet. But no analysts tracked by the service actually changed their rating on the company, and most said nothing that Nvidia reported was truly surprising. ---Market Watch
太平洋时间上午7:21：道琼斯-84.10，标准普尔500 -15.37，纳斯达克-111.41，罗素2000 -13.02，WTI原油+ 0.56％，黄金+ 0.09％，美元指数-0.06％。
海外市场：上海-0.41％，日本+ 0.24％，香港-0.57，德国-1.84％，英国-0.89％，法国-1.77％。
弱势行业：SMH，IGV，SOCL，FDN，EWG，IBB，XLY强势行业：XLF，OIH，TLT
由于中国在贸易谈判中对美国采取强硬立场，而且几家半导体公司冻结了向华为提供的关键软件和硬件组件供应，使美中贸易战恶化，导致美国股市开市大幅下挫。 随着半导体板块下滑，纳斯达克指数跌幅最大。 半导体ETF SMH触及200日均线，并从4月高点已下跌了15％。 AAPL下跌超过3.5％，因炒家推测，如果中国进行报复，它可能成为目标。 所有3个主要市场指数道琼斯指数，标准普尔500指数和纳斯达克指数均低于50日均线（道指26071，标准普尔500 2870，纳斯达克7875）。 市场正在下行走向道指25430，标准普尔500 2776和纳斯达克7533的200日均线支撑。由于道琼斯指数最接近200日均线，因此应该密切关注25430水平。 跌破这一水平意味着美国股市有更大的下行空间。美股继续走跌的机会大。
。据“南华早报”报道，北京方面“不急于”恢复中美之间的贸易谈判。中国分析人士表示，如果特朗普总统不“准备接受现实”，中国准备暂停会谈。中国邀请了Mnuchin部长到北京继续进行会谈，但中国社会科学院的一位国际关系专家表示，“如果美国继续缺乏诚意，他就没有必要进行疯狂的计算他甚么时候会来。”---CNBC
。Xilinx（ XLNX）和其他美国芯片制造商，包括英特尔公司 （INTC），高通公司QCOM, Micron (MU)和Broadcom（AVGO），加上Google (GOOG) 已冻结华为提供关键的软件和硬件组件。---Bloomberg
。沙特阿拉伯和其他石油输出国组织（OPEC）生产商表示，他们有意在今年剩余时间内保持石油供应限制，同时承诺防止任何真正的短缺，本周石油开局良好。---Bloomberg
。由于第一季度的收益季节几乎结束，我们可以说，即将到来的盈利衰退的风险远远大于乐观市场所反映的风险。我们必须首先理解美国本财政季度中出现的“积极”意外是由两个危险因素驱动的：第一个是非常低的基数，因为在第一季度业绩公布之前，市场普遍降低了预期。 第二是回购。 标准普尔500指数几乎所有EPS的惊喜都来自于回购。 ---Daniel lacalle via Zero Hedge
。经过5个月的停火后，中美之间的贸易战突然爆发。博微上的报道称中国领先的国家电视台电视频道中央电视台上周播放了三部反美电影。 这三部电影是韩国战争电影：英雄儿女（1964年），上甘岭战役（1954年）和突袭（1960年），在特朗普总统提出现有的价值2000亿美元的关税调高到后25％约一周播出。 上周，反美宣传在全国各地蓬勃发展，口号“想谈谈吗？可以，想要打架吗？奉陪，想欺负我们吗？梦想！” 在中国社交媒体平台上传播。---Zero Hedge
。富人似乎对这个牛市失去了信心。 Tiger 21的750名成员，拥有约750亿美元资产的投资者联盟，在第一季度将现金持有量增加了20％，使该集团的总股市配额达到了自2013年初以来的最低水平。此举也标志着Tiger 21 3年来第一次现金筹集工作。现在Tiger 21的分配如下：---市场观察
。在过去的几周里，2019年的加密反弹开始吸引了大量关注 - 正好赶上比特币（BTC-USD，GBTC）从上周四/周五的约8.3万美元跌至7,000美元。这个周末却大幅向上反转，比特币一路攀升至上周的高位。---Seeking Alpha
。根据FactSet的数据，在Nvidia (NVDA)公布上周四下午的盈利报告但没有重申早前的年度指引之后，分析师们对于如何处理这些信息感到分歧：五个调低了他们的价格目标，七个调高了他们的目标。 但该服务追踪的分析师实际上没有改变他们对该公司的评级，而且大多数人都没有说Nvidia报道令人惊讶。---Market Watch
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