Dropping the hammer on Huawei

THU, MAY 16, 2019

YOUR AFTERNOON NEWS UPDATE AND MARKET ACTION FROM CNBC

AS OF THU, MAY 16, 2019 • 12:19 ET

DJIA		25955.75
		+1.20%	+307.73

S&P 500		2892.08
		+1.44%	+41.12

NASDAQ		7945.96
		+1.58%	+123.81

EDITOR'S NOTE

Very little time today...

The biggest news is the U.S. effectively working to ban Huawei from doing business in America. A huge, huge blow for the company and for China if it does happen. (Although I do wonder if the U.S. will have to offer rural telcos some relief to offset their higher costs as a result.)

We'll have a ton more on this at 1 p.m (select headlines below).

Elsewhere, pretty good economic numbers this morning--jobless claims dropped to 212,000; housing starts and even the Philly Fed regional manufacturing gauge were stronger than expected.

The second quarter GDP tracking still doesn't look so great for now (in the mid-1s), but we shall see. So many bigger questions hang over growth from here--most prominently, tariffs. We'll talk about what Walmart and Cisco said on that front.

See you soon!

Kelly

Kelly Evans

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