Late Thursday, President Trump cranked up tensions with China and signed orders to ban Americans from transactions involving China's ByteDance (TikTok's parent) and WeChat (owned by Tencent), taking effect in 45 days. Furthermore, Trump's Working Group on Financial Markets recommended that Chinese companies currently listed on US exchanges should be delisted if they do not become compliant with US accounting standards. "The US pressure on China's tech sector appears likely to continue in the presidential elections, injecting volatility in the sector and opening the door to escalatory retaliation," UBS strategists said. Trump's decision to take aim at WeChat, the world’s most-used messaging app, has the potential to upend the international businesses of companies from Apple Inc. to Walmart Inc.---ZeroHedge
Trump's actions will likely trigger China retaliation on US techs. This comes at a time when US tech stocks have reached extreme valuations and may mean the end of US tech stock rally. This may be the time to short tech stocks. A convenient way to do that is buy FNGD (Fang+ index 3X), a ETN that tracks the reverse performance Fang+ stocks. This ETN even includes Chinese internet stocks. FNGD stock holdings:
10% Facebook
10% Apple
10% Amazon
10% Netflix
10% Alphabet
10% Tesla
10% Nvidia
10% Alibaba
10% Baidu
10% Twitter
Meanwhile, there is not decision on the second stimulus plan from Congress and there may not be any vote on the plan until late next week. Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent. These numbers are slightly better than the Bloomberg Econoday consensus jobs estimate of +1.677 million and the unemployment rate consensus was 10.5%. Stock market reacted positively initially and then fade.
周四晚间，特朗普总统加剧了与中国的紧张关系，签署命令禁止美国人参与涉及中国的ByteDance（TikTok的母公司）和微信（腾讯拥有）的交易，该禁令在45天内生效。此外，特朗普金融市场工作组建议，如果目前在美国交易所上市的中国公司不符合美国会计准则，则应除名。瑞银策略师说：“美国对中国科技业的压力在总统选举中可能会继续，这给该行业注入了动荡，并为中国报复打开了大门。”特朗普决定瞄准全球最常用的通讯应用程序微信，这有可能颠覆从苹果公司到沃尔玛公司的国际业务。---ZeroHedge
特朗普的行动可能会引发中国对美国科技公司的报复。这是在美国科技股达到极端估值的时候而可能意味着美国科技股的上升结束。这可能是做空科技股的时候了。一种简便的方法是购买FNGD（Fang +指数3X看跌），这是一种追踪Fang +股票的反向表现的ETN。该ETN甚至包含中国的互联网股票。包含的股票有：
10% Facebook
10% Apple
10% Amazon
10% Netflix
10% Alphabet
10% Tesla
10% Nvidia
10% Alibaba
10% Baidu
10% Twitter
另外，美国国会没有就第二轮刺激计划做出决定，可能要到下周晚些时候才对该计划进行投票。 7月份非农就业总人数增加了180万，失业率降至10.2％。这些数字略好于彭博经济日一致预期的+167.7万，失业率则为10.5％。股市最初反应积极，然后逐渐消退。
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