A downturn in the semiconductor space would be a meaningful warning sign in the trade war with China, J.P. Morgan say.
Hunter, who follows strictly charts to make buying and selling recommendations for clients, said they should watch the 1,430 level on thein a note Tuesday. If the index falls below that area, it could mean trouble.
"Starting with the Philadelphia Semiconductors Index underperformance through most of 2018 and then strong relative outperformance late in the fourth quarter, even as the broad market came under accelerated bearish pressure, the industry group has been one of the more sensitive groups to US-Chinese trade developments," said Hunter.on $200 billion in goods, and possibly add tariffs to another $325 billion in goods, that had not been subject to them previously.
Investors are looking for clarity at this point. The trade talks with China will go forward this week, on Monday. But U.S. Trade Representative Robert Lighthizer also said the new tariffs will go through on Friday.tracking the chip index is up more than 33% this year and Hunter said the index continues to bullishly consolidate above the recent breakout for now. The index opened Tuesday down a little more than 1%.
Hunter also said the fact that the S&P 500 held near 2,900 on Monday is a good sign for now. It would take a drop through the 2,800 to 2,846 layer to signal the broader 2019 market rally was breaking down. The S&P 500 was down for a second day on Tuesday, off 0.7% to 2,911 shortly after the open.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Cramer Remix: China needs us more than we need ChinaJim Cramer explains how the United States has the upper hand in trade negotiations with our stronger, cash fueled economy.
Consulte Mais informação »
US Navy destroyers sail near disputed islands claimed by China in South China SeaTwo U.S. guided missile destroyers sailed near disputed islands claimed by China in the South China Sea on Monday, the U.S. Navy says in a statement.
Consulte Mais informação »
Huawei Has Taken Over Apple's Market Share In China; It Will Get WorseWait until Hauwei launches its own operating system. Then even Google will have a new rival.
Consulte Mais informação »
Wall Street Put Way Too Much Stock In Peaceful China Trade SettlementUnless China comes out verbally in favor of removing state subsidies from favored industries, among other things, the trade war gets bigger fast.
Consulte Mais informação »
US stock futures tumble after Trump administration says China reneged on trade dealThe Trump administration is taking stocks on a roller coaster ride. Investors are not pleased.
Consulte Mais informação »
Oil mixed as U.S.-China trade dispute weighs, but sanctions keep market tenseOil prices were mixed on Tuesday, pressured by concerns the escalating Sino-U.S....
Consulte Mais informação »
Buffett doesn't see clear outcome in trade fight with ChinaBuffett spoke after holding his annual Berkshire Hathaway shareholders meeting.
Consulte Mais informação »
US-China trade talks hit snagTop US officials say imports from China will be slapped with tariffs even as Beijing is sending a delegation for a push to end the yearlong trade dispute.
Consulte Mais informação »
European markets set for sharp losses at the open as US-China trade tensions escalateEuropean markets are set to open sharply lower on Monday, after President Donald Trump said the U.S. would hike tariffs on goods from China.
Consulte Mais informação »
China Vice Premier Liu may still travel to U.S. this week: SCMPChina Vice Premier Liu He could still travel to the United States for trade nego...
Consulte Mais informação »
Tariffs That Started the U.S.-China Trade Conflict Now Dog Its FinishAs U.S. and Chinese officials try to close a trade deal, the punitive tariffs the governments slapped on each country’s goods in the conflict stand as a major obstacle.
Consulte Mais informação »