Morning Market News Digest And Comments 早盘市场新闻摘要及评论

Pacific Time 7:48AM : Dow +49，  S&P 500 +7， Nasdaq +32， Russell 2000 -0.20,WTI crude oil+0.49%，Gold-0.06%， US dollar index+0.04%, 10 Year Treasury yield 2.154%+0.011

Oversea markets: Shanghai+2.58%, Japan+0.33%, Hong Kong +0.76%, Germany 1.34%, UK+0.47%, France+0.80%.

Weak sectors: GDXJ, GDX, GLD, IYR  Strong sectors: XRT, EEM, FXI, EWG, SMH, SOCL, XLY, XLF

China allowed local governments to use proceeds from special bonds for major investment projects in a bid to support its slowing economy. US stock market opened up strongly but has now retreating.
The market has bounced 7 days in a row and is getting extended. 8 is a fibonacci number to watch as the market approaching up 8 days in a row, it usually reverses. The bench mark index S&P500 is now only 2% away from all time high of 2954.  Strong resistance is ahead. As US-China trade war unresolved, global economy slowing and the market's recent rise has reflected the expectation of Federal Reserve lowering interest rate 3 times this year, it's doubtful that the stock market can break through all time high near term. Strategy is sell rallies.


。China helped drive a rally in Asian and European shares on Tuesday after it allowed local governments to use proceeds from special bonds for major investment projects in a bid to support its slowing economy. The news lifted U.S.-listed shares of Alibaba Group Holdings (BABA), JD.com Inc (JD) and Baidu Inc. (BIDU)---Reuters

。The wholesale cost of goods and services barely rose in May, reflecting easing inflationary pressures in the U.S. amid slower economic growth and fading gasoline prices. The producer price index edged up 0.1% last month, the government said Tuesday, matching the MarketWatch forecast. The increase in wholesale prices over the past year, meanwhile, slowed to 1.8% from 2.2% in April, and they’re down sharply from a recent high of 3.1% last summer.
---Market Watch

。Congress will begin its scrutiny of America's tech giants this afternoon amid growing discomfort in Washington over the power that the companies wield over the industry and public life. An inaugural hearing by the House Judiciary Committee will analyze anti-competitive practices among Silicon Valley’s biggest names, starting with a look at the impact of their platforms on news content, the media and the spread of misinformation online. The committee has already put Amazon (AMZN), Google (GOOG, GOOGL), Facebook (NASDAQ:FB) and Apple (NASDAQ:AAPL) on alert, and members made clear that the tech titans will go under the microscope.---Wall Street Breakfast

。Needham says the recent Alphabet (GOOG,GOOGL) on regulatory concerns has left the shares "too cheap." Analyst Laura Martin sees a potential 50% upside for investors if the U.S. Department of Justice broke up the parent company. Martin says the increased scrutiny "adds costs and margin pressures" for the next few years, but will likely have little impact on revenue growth and consumer usage until the court fights are over. Needham maintains a Buy rating and $1,350 price target. ---Seeking Alpha

。JPMorgan lowers Beyond Meat (BYND) to a Neutral rating from Overweight following the meat alternative seller's IPO run from $25 to as high as $186.43. While JP is highly favorable on the total addressable market for alternative meat and Beyond Meat's role within it, the share price ran right past the firm's price target of $120. "At some point, the extraordinary revenue and profit potential embedded in BYND… will be priced in' – we think this day has arrived," advise analyst Ken Goldman and team. ---Seeking Alpha

。Barclay‘s rating  actions:
Teva Pharmaceutical Industries (TEVA) resumed with Underweight rating and $8 (14% downside risk) price target. Mylan N.V. (MYL) resumed with Overweight rating and $26 (48% upside) price target. Shares up 2% premarket. Revance Therapeutics (NASDAQ:RVNC) resumed with Overweight rating and $28 (162% upside) price target.---Seeking Alpha

。Broadcom (BRCM) had entered into a two-year supplier deal with Apple (AAPL). Under the agreement, Broadcom will provide radio-frequency, front-end components and modules for a variety of Apple products, including smartphones, according to a securities filing. ---CNBC





太平洋时间上午7:48：道指+49，标准普尔500 +7，纳斯达克+32，罗素2000 -0.20，WTI原油+ 0.49％，黄金-0.06％，美元指数+ 0.04％，10年期国债收益率2.154％+ 0.011

海外市场：上海+ 2.58％，日本+ 0.33％，香港+ 0.76％，德国1.34％，英国+ 0.47％，法国+ 0.80％。

弱势行业：GDXJ，GDX，GLD，IYR  强势行业：XRT，EEM，FXI，EWG，SMH，SOCL，XLY，XLF

中国允许地方政府将特殊债券的收益用于重大投资项目，以支持其经济放缓。美国股市因而强劲开盘，但现在已经开始回落。市场已经连续7天反弹而有些过份。 8是一个斐波那契数字，假如市场连续8天上涨，它通常会逆转。基准指数S＆P500现在距离历史高点2954只有2％。强劲的阻力就在前面。由于美中贸易战没有解决，全球经济放缓和市场近期的上涨反映了美联储今年3次降息的预期，股市能否在短期内突破历史高位令人怀疑。策略是逢高卖出。


。在允许地方政府将特殊债券的收益用于重大投资项目以支持其经济放缓之后，中国周二推动了亚洲和欧洲股市的反弹。这一消息提振了美国上市的阿里巴巴集团（Alibaba Group Holdings, BABA），京东（JD.com, JD）和百度（Baidu Inc, BIDU）的股票。 ---路透社

。商品和服务的批发成本在5月份几乎没有上升，反映出美国经济增长放缓和汽油价格下跌导致的通胀压力缓解。政府周二表示，生产者价格指数上月小幅上涨0.1％，与MarketWatch预测相符。与此同时，过去一年批发价格的上涨从4月的2.2％放缓至1.8％，并且从去年夏天的3.1％大幅下跌。---Market Watch

。国会将在今天下午开始审查美国的科技巨头，因为华盛顿对该等公司在行业和公共生活方面的权力越来越不满。众议院司法委员会首次举行的听证会将分析硅谷大腕中的反竞争做法，首先看看他们的平台对新闻内容，媒体和网上错误信息传播的影响。该委员会已经对亚马逊（AMZN），谷歌（GOOG，GOOGL），Facebook（FB）和苹果（AAPL）保持警惕，成员们明确表示，技术巨头将在显微镜下。--Wall Street Breakfast

。Needham表示，最近对监管机构担忧的Alphabet（GOOG，GOOGL）导致这些股票“过于便宜”。如果美国司法部解散母公司，分析师劳拉马丁认为Alphabet有50％的上​​升空间。马丁表示，未来几年审查的增加“会增加了成本和利润率压力”，但在法庭斗争结束之前，对收入增长和消费者使用的影响可能不大。 Needham维持买入评级和1,350美元的目标价。 ---Seeking Alpha

。摩根大通将Beyond Meat（BYND）评级从超配中调至中性评级。这家肉类替代卖家的IPO从25美元昨日升至至186.43美元。虽然JP对替代肉类市场看好以及Beyond Meat在其中的作用非常有利，但股价却超过了该公司120美元的目标价格。 “在某些时候，BYND中嵌入的非凡的收入和利润潜力将被反映 - 我们认为这一天已经到来，”分析师Ken Goldman和团队建议道。 ---Seeking Alpha

。巴克莱的评级行动：
Teva Pharmaceutical Industries（TEVA）被恢复了减持评级和8美元（下行风险14％）的目标价。 Mylan N.V.（MYL）恢复了增持评级和26美元（48％的上行空间）价格目标。 Revance Therapeutics（RVNC）恢复了增持评级和28美元（162％的上涨）价格目标.---Seeking Alpha

。Broadcom（BRCM）与Apple（AAPL）签订了为期两年的供应商协议。 根据协议，Broadcom将为各种Apple产品（包括智能手机）提供射频前端组件和模块。--- CNBC