Musk-led Tesla rally at risk, GOOG and AMD earnings in focus [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The news of a month of delay for the tariffs targeting Mexico landed soon after the US opening bell and similar news about Canada came in later in the day. On the European front, nothing more than increased threats and mounting tensions among politicians, with Brexited Britain spotted as one bright spot in Europe. On the Chinese front, Xi and Trump are set to discuss the 10% tariffs this week, but Beijing has already announced retaliatory measures, including an antitrust probe into Google and a 15% tariff on U.S. coal and LNG imports.

The markets recovered from early losses but futures are in the negative.

Alphabet and AMD are due to announce earnings today, and the monthly avalanche of US jobs data begins today with job openings data. Any strength in data will further fuel the Federal Reserve (Fed) hawks and help push back the expectation of the next rate cut further down the road. For now, the first rate cut is being priced in for June – the earliest.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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