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Morning Brief: Trump considers extension for China tariff deadline

Thursday, February 14, 2019

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WHAT TO WATCH

Chipmaker Nvidia (NVDA) will take center stage after the market close when the company reports Q4 and full-year 2018 financial results. Nvidia has been in the spotlight after issuing weak revenue guidance at the end of January. Nvidia lowered its revenue expectations for Q4 to $2.2 billion from $2.7 billion.

Some other notable earnings reports scheduled for Tuesday include AstraZeneca (AZN), Bloomin’ Brands (BLMN), CME Group (CME), Incyte (INCY), Coca-Cola (KO) and Yeti Holdings (YETI) before market open; Applied Materials (AMAT), Canopy Growth (CGC) and CBS Corporation (CBS) report after market close.

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TOP NEWS

A delivery worker pushes a cart loaded with goods past by a bench with an American flag outside a fashion boutique selling U.S. brand clothing at the capital city's popular shopping mall in Beijing, Friday, Feb. 1, 2019. U.S. President Donald Trump expects to meet with his Chinese counterpart Xi Jinping to try to resolve a six-month trade standoff after U.S. and Chinese negotiators ended two days of talks Thursday without settling the toughest issues that divide the world's two biggest economies. The White House says the two countries made progress but "much work remains to be done." (AP Photo/Andy Wong)
A delivery worker pushes a cart loaded with goods past by a bench with an American flag outside a fashion boutique selling U.S. brand clothing at the capital city's popular shopping mall in Beijing. (AP Photo/Andy Wong)

Trump considers extension for China tariff deadline: President Donald Trump is considering pushing back the deadline for imposition of higher tariffs on Chinese imports by 60 days, as the world’s two biggest economies try to negotiate a solution to their trade dispute, according to people familiar with the matter. [Bloomberg]

Cisco shares rise on better-than-expected revenue and earnings: Cisco CSCO shares rose in extended trading on Wednesday after the manufacturer of networking equipment reported quarterly revenue and earnings that beat analysts' estimates. [CNBC]

Death of the superjumbo jet: Airbus is killing off the A380 double-decker superjumbo jet in what CEO Tom Enders is calling a “painful” decision. Passengers have often raved about the A380 flying experience as it offers more legroom, space and upgrade options. But a lack of demand from airlines led to years of speculation that the company would eventually have to kill it off. [Yahoo Finance UK]

Gundlach: Recession not on the horizon, but beware: Bond investor Jeffrey Gundlach, the CEO of $121 billion DoubleLine Capital, says one would have to look very hard for a recession in the near term, but some indicators are starting to turn yellow. [Yahoo Finance]

The Trump tax cuts are still bombing: The Trump tax cuts, passed in 2017, put fresh money into the economy and juiced growth last year. But if the Trump tax cuts were a consumer product, they’d be Google Glass, New Coke or the Edsel: The branding flopped, the promise failed to materialize, and overeager promoters failed to understand what the market really wanted. [Yahoo Finance]

Valentine’s Day by the numbers: Valentine’s Day is supposed to be a day to celebrate love, but let’s face it – it’s another excuse to spend money. Americans are expected to spend $20.7 billion on Valentine’s Day this year, and around half the population plans to celebrate, according to the National Retail Federation. [Yahoo Finance]

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