NewsWare’s Trade Talk: Wednesday, April 16

S&P Futures are in the red this morning as sentiment is weakening. After the close yesterday NVDA announced that they will be subject to export restriction for its H20 chip which is sold to China. China generated $17B or 13% of NVDA total sales last year. China has indicated that it is open to trade talks with the U.S. White House trade officials are said to be asking countries to limit trade activities with China in return for tariff relief. This is being done to isolate China to achieve a better trade deal. Chinese economic data was strong overnight, as business activity ramped up ahead of tariffs. The tariff damage will likely start to show in next month economic data. Market will be hearing from Fed Chair Jerome Powell this afternoon. He is expected to reiterate the strength of the U.S. economy and acknowledge uncertainty ahead due to the Trump Tariffs. On the economic calendar today is the Retail Sale report. This afternoon, LVS, CSX, KMI and AA are schedule to report earnings. On Thursday morning, TSM, UNH AXP & DHI will be reporting.