Market 2018-05-07 (NVDA, $70 Crude & Iran Deal, and more)

Tech continues to soar, Retailers suffer.

The WSJ reports that China is near finalizing a $47.4B investment fund to finance semiconductor research and startup development. The move comes as China wants to increase its tech independence during a period of heightened relations with the US. A similar fund was launched in 2014 and raised $21.8B. SOXX +1%.

Treasury yields have little change. TLT -0.16%.

Crude +0.13% to $69.81. Gold +0.02% to $1,314.90. UUP +0.21%.

WTI June crude oil jumped above $70/bbl intraday for the  first time since November 2014. Trump tweeted that he would announce his decision on Iran sanctions at 2 pm tomorrow from the White House; oil prices have run higher in recent days, partly on the belief that Trump will take a hard line on the deal.

Winners

Nvidia +4% as Bank of America Merrill Lynch reiterates its Buy rating with $300 PT. ER will be on Thursday.

ILMN +4.9% reaches all-time high again.

 BABA +3.4%, will retest $200 soon. YY +7.4%, MOMO +7.6% both jumping higher.

Industrial higher XLI +0.66%: CAT +2.4%, BA +1.8%, URI +4.1%...

Losers

Walmart -2.4% tracks lower amid retail sector anxiety. Costco's (COST -1.1%) will report April sales later this week.

Department stores are weak again: KSS -4.1%, M -3.8%, JCP -3.1%...

Earnings in AH

Zillow (ZG): Q1 EPS of $0.07 beats by $0.01.
Revenue of $299.9M (+22.0% Y/Y) in-line.
Shares -7%.

Hertz Global Holdings (HTZ): Q1 EPS of -$1.58 misses by $0.28.
Revenue of $2.06B (+7.3% Y/Y) beats by $90M.
Shares -9%.

 AMC Entertainment (AMC): Q1 EPS of $0.14 beats by $0.05.
Revenue of $1.38B (+7.8% Y/Y) beats by $30M.
Shares +6.4%.

Important Earnings This Week


Source: https://www.reddit.com/r/options/comments/8h7wno/earnings_week_of_57/

My Trades Today

Sold half YY @ $105

Bought CVS

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