FYI: European stocks opened higher Tuesday following a broadly positive session in Asia after the Trump administration said it would grant temporary exemptions to the export blacklist against Huawei Technologies.
The Stoxx Europe 600 rose 0.4% in opening trade, with the U.K’s FTSE 100 up 0.5% and Germany’s DAX up 0.7%.
In Asia, China’s Shanghai Stock Exchange was up 1.2%, while Korea’s Kospi was trading 0.3% higher, though Hong Kong’s Hang Seng dipped 0.5%.
Technology stocks led the gains in Europe, recovering some of the ground lost yesterday after Germany’s Infineon said it would suspend deliveries to Huawei, sparking a selloff of European chip makers. Switzerland-listed AMS regained 2.8% this morning after dropping more than 13% on Monday.
The telecom sector was also in focus after Telecom Italia TI.A 1.90% SpA stuck to its guidance, despite posting lower first-quarter earnings, driving its shares up 2%. In the U.S., Federal Communications Commission Chairman Ajit Pai on Monday said he would support the proposed $26 billion tie-up between T-Mobile US Inc. and Sprint Corp , removing one of the main hurdles to the merger.
Meanwhile, the U.S. Commerce Department overnight said it would grant 90-day licenses for some companies to continue exporting to Huawei and its associates, providing some respite after the crackdown on the Chinese telecom prompted a retreat from U.S. technology stocks, dragging down major indexes.
In the U.S., futures pointed to opening gains of around 0.3% for the S&P 500, 0.2% for the Dow Jones Industrial Average and 0.4% for the Nasdaq-100.
The yield on 10-year U.S. Treasurys edged up to 2.409% from 2.405% on Monday. Yields move inversely to prices. German 10-year government bonds were in negative territory at -0.090%.
In commodities, global benchmark Brent crude oil was down 0.1% at $71.92 a barrel, while gold ticked down by 0.2%.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was up 0.2%.
Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/us-stock-futures-hint-at-rebound-as-investors-watch-trade-headlines-2019-05-21/printWSJ:
Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-20/asia-stocks-to-drop-on-tech-sell-off-dollar-falls-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-apple-stock-market-rally-china-trade-war-chip-stocks/Reuters:
https://www.reuters.com/article/us-global-markets/global-stocks-gain-as-u-s-eases-huawei-restrictions-idUSKCN1SR04MCNBC:
https://www.cnbc.com/2019/05/21/stock-market-dow-in-focus-after-us-eases-huawei-trade-restrictions.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-gains-after-u-s-eases-huawei-sanctions-galliford-jumps-idUKKCN1SR0NIEurope:
https://www.reuters.com/article/us-europe-stocks/huawei-reprieve-lifts-european-shares-telecom-italia-boosts-milan-idUSKCN1SR0Q5Asia:
https://www.marketwatch.com/story/asian-markets-mixed-as-investors-weigh-huawei-implications-2019-05-20/printBonds:
https://www.cnbc.com/2019/05/21/us-bonds-treasury-yields-move-lower-ahead-of-economic-data-auctions.htmlCurrencies:
https://www.cnbc.com/2019/05/21/forex-market-us-federal-reserve-huawei-in-focus.htmlOil:
https://www.cnbc.com/2019/05/21/oil-market-middle-east-tensions-opec-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/05/21/gold-market-us-china-tensions-dollar-moves-in-focus.htmlCuirrent Futures:
https://finviz.com/futures.ashx 
