5 Stocks To Watch As Trade Tension Roil The Stock Market

5 Stocks To Watch As Trade Tension Roil The Stock Market

US Markets

International Markets

  • Japan Nikkei -0.72%
  • China Shanghai -1.21%
  • Hong Kong HSI Closed
  • South Korea Kospi -1.38%
  • UK FTSE -0.13%
  • German DAX -0.77%

USA/China

Equity markets around the globe are trading lower this morning as trade concerns continue to roil the equity markets. But worry not, because as President Trump issues tariffs, the Chinese are allowing the value of yuan to weaken. It would seem that the yuan is running to 7.

china, yuan

china, yuan

Oil

Oil prices are on the rise up over 1% despite the fears of global a trade war. I guess the oil market at this point is not too concerned about this trade war. However, should oil break support at $61.50 it could lead to a decline to $57.80.

oil

oil

STOCK MARKET

S&P 500 (SPY)

The stock market is facing losses on May 13, and 2,836 continues to be the line in the sand for the S&P 500. As long as that level holds thing should be ok. If the index falls below that support, they could ugly quickly. Let’s hope we stay above 2,836.

Spx, sp500

Spx, sp500

Uber/Tesla (UBER/TSLA)

Uber (NYSE:UBER) is falling again today, and its valuation is now $70 billion. What’s the bet here? Autonomous driving? Tesla (NASDAQ:TSLA) has a market value of about $40 billion.Either Tesla is too cheap, or Uber is way too expensive.

Semis (SMH)

Chip stocks will be one group to suffer today on trade concerns. $106.25 is the next significant level to watch for in the SMH.

semis SMH

semis SMH

Micron (MU)

Micron Technology Inc (NASDAQ:MU) is trading near its lows at roughly $38 today, and again this one looks as if it may be heading towards $36.

micron, mu

micron, mu

Nvidia (NVDA)

NVIDIA Corporation (NASDAQ:NVDA) is trading lower, and again I continue to think this one is heading towards $150.

nvidia, nvda

nvidia, nvda

Boeing (BA)

Boeing Co (NYSE:BA) is flirting with its lows from last, and a drop below $345 pushes the stock even lower towards $320.

boeing, ba, stock , may 13

boeing, ba, stock , may 13

Caterpillar (CAT)

Caterpillar (NYSE:CAT) is facing stiff resistance at $132 and the stock could fall to $125.

caterpillar,  cat stock , may 13

caterpillar, cat stock , may 13

United Technologies (UTX)

United Technologies (NYSE:UTX) is facing stiff resistance at $137.50 and the stock is facing a decline to $130.

united technoligies, utx, stock , may 13

united technoligies, utx, stock , may 13

Original post

5 Stocks To Watch As Trade Tension Roil The Stock Market

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