Chip Stock To Weigh The Stock Market Down On May 20

US Markets

  • S&p 500 Futures -13.75 points
  • US 10-year 2.39%
  • Dollar Index 97.98
  • VIX 16.96
  • Oil $62.86

International Markets

  • Shanghai Composite -0.41%
  • Hong Kong HSI -0.57%
  • South Korea KOSPI – FLAT
  • German DAX -1.31%
  • UK FTSE -0.8%

Housing Keeping:

I was really bored with the old website so I decided on Sunday with nothing to do it was time for a major revamp!!!!

International Market

The Shanghai Composite was down on May 20, but the good news is that it closed off its lows and managed to hold support at 2,825.

shanghai, may 20

Tencent (700 HK)(TCEHY)

Tencent, the big technology company in Asia, has been getting struck hard. Why do we care? Remember, this was one of the stocks that were the first to bottom and begin to rise in the winter. For now, the stock MUST hold support at 333 HKD.

tencent,

Australia

The Australian equity market doesn’t seem too concerned about a trade war hurting the China economy. The index just reached a record high. China happens to be Australia’s biggest trade pattern, accounting for $74 billion or 29.2% of the countries exports.

Hey look at that, the US exports about $150 billion a year to China, about Double Australia. However, the US economy is nearly $20 trillion, and Australia’s GDP is about $1.3 trillion. Who is China more Important too?

austrailia,

US Stock Market

S&P 500 (SPY)

Stocks are picking up from where they left off on Friday with the S&P 500 indicating to open lower on May 20. Again, 2,836 is the big level that we must continue to watch. Based on the Futures, the S&P 500 should open above that region of support. A drop below that level setups a retest of the lows from last Monday around 2,812.

AT 2,812 the S&P 500 is about 5% off its highs, and that was the region we saw the trade talk turn more positive.

However, I hope that the trade talk gets out of the headlines and soon.

S&P 500, stocks, may 20

Semis Will Weigh

Semiconductor stocks will continue to fall today as many begin to comply with the request from the US Government not to supply Huawei anymore. Additionally, Alphabet (GOOGL) will no longer supply Huawei with its Andriod operating system.

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Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when the market changes. I am not right all the time and I do not expect to be. I ...

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