Liveblog Archief donderdag 28 mei 2020

Wat ik vandaag, maar ook de andere dagen deze week, merk is dat het sectorspel is begonnen, een vreemd spel maar wel vaak het eindspel. Beleggers weten niet meer wat ze moeten kopen dus gaan ze schakelen, erin en eruit en weer naar een andere groep enz... Dat zie aan de bewegingen bij de Nasdaq (eruit en dan er weer in) maar ook bij de aandelen binnen de Dow Jones en de S&P 500 die zwiepen tussen plus en min, de ene keer fors de andere keer beheerst. Toch opletten want dat hebben we vaker gezien dat wanneer er met de sectoren wordt gegoocheld je vaak heel dicht bij een top zit. Remember februari waar ik dat ook heb gezien, zeker tijdens de fase ervoor. We kunnen wel gaan denken dat het de overheden zijn die de aandelen hogerop sturen maar dat is niet zo, het zal wel helpen maar eens is de limiet bereikt en zit je plots met nog hogere waarderingen van bedrijven die het via de resultaten onmogelijk gaan kunnen bijbenen.

Neem nu de cijfers van vandaag, die worden positief uitgelegd maar zijn nog altijd extreem slecht, het enige wat ik hoor is dat het trager gaat, maar denk eens na, uiteraard gaat het trager als iedereen al bijna op straat werd gegooid de afgelopen weken. Toch altijd die positieve zwiep die er wordt gegeven, op zich goed voor het vertrouwen maar voor de markt moordend dit soort hoopvolle inzichten. Nogmaals, we gaan het zien, ik heb me nu volop gepositioneerd voor de maand JUNI, ik denk dat we dan wel een mooie comeback kunnen maken. Wie nog mee wil met de posities voor de komende maand kan lid worden, nu tot 1 augustus voor €39 ... Ga naar https://www.usmarkets.nl/tradershop

Tot later ... Guy ...

TOP NEWS
• New wave of U.S. layoffs feared as coronavirus pain deepens
Job cuts by U.S. state and local governments whose budgets have been crushed fighting the COVID-19 pandemic and more second-wave layoffs in the private sector likely contributed last week to a 10th straight week of more than 2 million Americans seeking unemployment benefits. The number of people filing new claims for state unemployment benefits likely totaled a seasonally adjusted 2.1 million for the week ended May 23.
• Trump to sign executive order on social media on Thursday -White House
U.S. President Donald Trump will sign an executive order on social media companies, White House officials said after Trump threatened to shut down websites he accused of stifling conservative voices.
• China parliament approves Hong Kong security bill as tensions with U.S. rise
China's parliament approved a decision to go forward with national security legislation for Hong Kong that democracy activists in the city and Western countries fear could erode its freedoms and jeopardise its role as a global financial hub.
• Amazon to offer permanent roles to 70% of 175,000 new U.S. hires
Amazon.com plans to offer permanent jobs to about 70% of the U.S. workforce it has hired temporarily to meet consumer demand during the coronavirus pandemic, the company told Reuters.
• GM, Ford turn to fast-payment programs to aid suppliers hit by shutdowns
General Motors and Ford Motor are using fast-payment programs set up with financial lenders to help cash-strapped small suppliers survive production shutdowns caused by the coronavirus pandemic.​


BEFORE THE BELL
Futures for the S&P 500 were little changed, ahead of GDP and jobless claims data, as investors weighed hopes of an economic recovery against underlying tensions between the United States and China. Optimism over businesses reopening supported European shares. Japan's Nikkei jumped, with investors snatching up deeply discounted stocks such as financials, while Hong Kong shares erased early gains. In currency markets, the euro was steady and an index tracking the dollar against major currencies was slightly lower. Oil prices fell as a surprise U.S. stock build dampened hopes of a smooth recovery in demand. Gold rebounded as investors sought safe-haven assets. ​


STOCKS TO WATCH
• Amazon.com Inc (AMZN). The company plans to offer permanent jobs to about 70% of the U.S. workforce it has hired temporarily to meet consumer demand during the coronavirus pandemic, the company told Reuters. The online retailer will begin telling 125,000 warehouse employees in June that they can keep their roles longer-term. The remaining 50,000 workers it has brought on will stay on seasonal contracts that last up to 11 months, a company spokeswoman said.
• American Airlines Group Inc (AAL). The company must reduce its management and support staff by about 30% and may have to cut frontline employees as it downsizes due to the coronavirus outbreak, showed a letter to employees made public on Wednesday. American must "plan for operating a smaller airline for the foreseeable future," Executive Vice President of People and Global Engagement Elise Eberwein said in the letter. American, with over 100,000 employees, will offer voluntary options before implementing involuntary reductions if there is not enough take-up, she said.
• Apple Inc (AAPL). The company has secured a deal for Hollywood veteran Martin Scorsese's next film, "Killers of the Flower Moon," U.S. media reported on Wednesday, citing sources. "Killers of the Flower Moon" will star Leonardo DiCaprio and Robert De Niro. It is the second major film that Apple has acquired after "Greyhound," starring Tom Hanks, last year.
• Boeing Co (BA). The company on Wednesday said it has resumed production of its 737 MAX passenger jet at the company’s Renton, Washington, plant at a "low rate" after halting production in January following two crashes that killed 346 people. The aircraft maker's best-selling plane was grounded in March 2019 after the second fatal 737 MAX crash in five months. Boeing declined to say what the current production rate is.
• General Motors Co (GM) & Ford Motor (F). The companies are using fast-payment programs set up with financial lenders to help cash-strapped small suppliers survive production shutdowns caused by the coronavirus pandemic. Keeping small suppliers afloat financially is critical for the automakers as they try to restart North American factories and generate cash from sales of large pickup trucks and sport utility vehicles. The programs pay suppliers up front for bills that typically take 40 to 60 days to settle. For many suppliers, checks for the last work done prior to the shutdown of North American auto plants arrived earlier this month, and no new payments would land until July or August.
• Gilead Sciences Inc (GILD). Roche plans to test if mixing its anti-inflammation drug Actemra with Gilead's anti-viral treatment remdesivir works better against severe COVID-19 pneumonia than remdesivir alone, the Swiss drugmaker said. Actemra and remdesivir are being used separately in some settings and clinical trials, with the former drug used to tackle massive immune reactions that sometimes occur in patients stricken with the new coronavirus and the latter aimed at interfering with viral replication.
• GlaxoSmithKline PLC (GSK). The British drugmaker said that its previous flu pandemic vaccine, which used some of the same ingredients as COVID-19 vaccines currently under development, was not linked to a rise in cases of the sleep disorder narcolepsy. A spokesman for GSK said the "science has moved on" since concerns were first raised about links between narcolepsy and its H1N1 vaccine, called Pandemrix. Separately, the company laid out plans to produce 1 billion doses of vaccine efficacy boosters, or adjuvants, next year as the race to develop and produce a successful solution to the coronavirus crisis heats up.
• Hertz Global Holdings Inc (HTZ). Billionaire investor Carl Icahn, who was the largest shareholder in Hertz, unloaded his entire stake in the rental car company at a "significant loss" days after it filed for bankruptcy protection. According to a regulatory filing made on Wednesday, Icahn, who held a nearly 39% stake in Hertz and had three representatives on the board, sold 55.34 million shares on Tuesday at 72 cents per share. Even though he suffered heavy losses, which he did not quantify, Icahn said that he still believed in the company and thinks it can be a "great company" in the future. At the end of 2019, his stake in Hertz was worth close to $700 million.
• JPMorgan Chase & Co (JPM). The head of the company’s corporate and investment banking division said second-quarter revenues for its markets unit are on track to be up more than 50% higher than the same period last year, thanks to extremely strong fixed income and equities trading revenues. Speaking at a virtual conference hosted by global asset manager Alliance Bernstein, Daniel Pinto said he also expects investment banking fees in the second quarter to be up by a percentage in the mid- to high teens, while mergers and acquisitions will be "probably 15-20% down."
• Moderna Inc (MRNA). The company has extended a deal to secure large volumes of the lipids used to produce its experimental COVID-19 vaccine in a bid to meet increasing demand for the medicine, the U.S. biotech company said. The expanded agreement with pharmaceutical ingredient supplier CordenPharma will be effective immediately to help meet its increasing demand over the coming months, Moderna said in a statement.
• News Corp (NWSA). The Australian arm of the company said it will stop printing more than 100 regional newspapers after the coronavirus shutdown gutted advertising revenue, accelerating a downturn in the country's media sector. From next month, the company which dominates Australia's media and political landscape said it would take 76 regional mastheads online only and shut another 36 altogether. It said the closures would lead to job cuts, without saying how many. "Print advertising spending which contributes the majority of our revenues has accelerated its decline," said News Corp Australasia Executive Chairman Michael Miller in a statement.
• Nio Inc (NIO). The company reported quarterly revenue below Wall Street estimates as the cash-strapped Chinese electric vehicle (EV) maker sold fewer vehicles amid the COVID-19 pandemic. Total revenue stood at 1.37 billion yuan in the first quarter, compared with the average analyst estimate of 1.67 billion yuan. Nio delivered 3,838 vehicles in the first quarter. Nio said it expects to deliver 9,500 to 10,000 vehicles in the second quarter.
• Toll Brothers Inc (TOL). The luxury homebuilder on Wednesday withdrew its full-year forecast and warned it would not provide such guidance for the foreseeable future due to uncertainty caused by the COVID-19 pandemic. "Our second quarter was essentially bifurcated by the impact of Covid-19," Chief Executive Douglas Yearley said in a statement. The company's net income fell to $75.7 million, or 59 cents per share, in the second quarter ended April 30, from $129.3 million, or 87 cents per share, a year earlier. Revenue fell 9.8% to $1.55 billion.
• Twitter Inc (TWTR), Facebook Inc (FB) & Alphabet Inc (GOOGL). U.S. President Donald Trump is expected to order a review of a law that has long protected Twitter, Facebook and Alphabet's Google from being responsible for the material posted by their users, according to a draft executive order and a source familiar with the situation. The order, a draft copy of which was seen by Reuters, could change before it is finalized. On Wednesday, officials said Trump will sign an executive order on social media companies on Thursday. Separately, Arizona filed a consumer fraud lawsuit against Alphabet's Google on Wednesday, alleging that the U.S. tech giant used "deceptive" and "unfair" practices to obtain the location data of users.
• United Airlines Holdings Inc (UAL). The company is reshuffling its management team to help the airline prepare for the near-term uncertainty of travel demand, new Chief Executive Scott Kirby told employees on Wednesday, as restrictions to keep the coronavirus from spreading are lifted. "Demand could be down 30% or it could be down 70%," Kirby said. Under the changes, Jon Roitman, currently United's senior vice president of airport and network operations, will replace Greg Hart as chief operations officer effective June 1.


ANALYSIS
Alibaba extends its reach in China as coronavirus outbreak opens doors
Alibaba Group is emerging as one of China's biggest corporate winners of the coronavirus crisis, gaining the opportunity to expand its businesses and solidify its status as a critical part of the country's socio-economic engine.


ANALYSTS' RECOMMENDATION
• HP Inc (HPQ). JPMorgan cuts rating to neutral from overweight, based on lack of catalysts, following a Q2 print that basically met low expectations with positives in the personal systems segment offset by setbacks in the printer segment, and a lacklustre outlook for printing in Q3.
• NetApp Inc (NTAP). JPMorgan establishes Dec 2021 target price of $50 vs Dec 2020 target price of $48, saying the company posted better-than-feared Q4 results, with margins holding on product mix benefits, generating solid FCF to end the FY despite a double-digit decline in top-line.
• Qualcomm Inc (QCOM). KeyBanc raises rating to overweight from sector weight, expecting the company to benefit from recent export restrictions targeted at HiSilicon.
• Workday Inc (WDAY). RBC raises target price to $200 from $194, citing the company’s better-than-feared Q1 results, with stronger margin outlook and two strategic partnerships with Microsoft, and Salesforce.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Corporate profits preliminary for Q1: Prior 2.1%
0830 Durable goods for Apr: Expected -19.0%; Prior -14.7%
0830 Durables ex-transport for Apr: Expected -14.0%; Prior -0.4%
0830 Durables ex-defense mm for Apr: Prior -16.0%
0830 Non-defense capital goods ex-air for Apr: Expected -10.0%; Prior -0.1%
0830 GDP 2nd estimate for Q1: Expected -4.8%; Prior -4.8%
0830 GDP sales preliminary for Q1: Prior -4.3%
0830 GDP consumer spending preliminary for Q1: Prior -7.6%
0830 GDP deflator preliminary for Q1: Expected 1.4%; Prior 1.4%
0830 Core PCE prices preliminary for Q1: Expected 1.8%; Prior 1.8%
0830 PCE prices preliminary for Q1: Expected 1.3%; Prior 1.3%
0830 Initial jobless claims: Expected 2,100,000; Prior 2,438,000
0830 Jobless claims 4-week average: Prior 3,042,000
0830 Continued jobless claims: Expected 25.750 mln; Prior 25.073 mln
1000 Pending Homes Index for Apr: Prior 88.2
1000 Pending homes sales change mm for Apr: Expected -15.0%; Prior -20.8%
1100 (approx.) KC Fed Manufacturing for May: Prior -62
1100 (approx.) KC Fed Composite Index for May: Prior -30


COMPANIES REPORTING RESULTS
Costco Wholesale Corp (COST). Expected Q3 earnings of $1.95 per share
DXC Technology Co (DXC). Expected Q4 earnings of 97 cents per share
Nordstrom Inc (JWN). Expected Q1 loss of $1.07 per share
Salesforce.Com Inc (CRM). Expected Q1 earnings of 69 cents per share
Ulta Beauty Inc (ULTA). Expected Q1 earnings of 48 cents per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 360 Finance Inc (QFIN). Q1 earnings conference call
0800 Esperion Therapeutics Inc (ESPR). Annual Shareholders Meeting
0800 Extended Stay America Inc (STAY). Annual Shareholders Meeting
0800 ICF International Inc (ICFI). Annual Shareholders Meeting
0800 Nio Inc (NIO). Q1 earnings conference call
0830 Burlington Stores Inc (BURL). Q1 earnings conference call
0830 Monro Inc (MNRO). Q4 earnings conference call
0830 Steven Madden Ltd (SHOO). Q1 earnings conference call
0900 Agios Pharmaceuticals Inc (AGIO). Annual Shareholders Meeting
0900 Dollar Tree Inc (DLTR). Q1 earnings conference call
0900 Life Storage Inc (LSI). Annual Shareholders Meeting
0900 Royal Caribbean Cruises Ltd (RCL). Annual Shareholders Meeting
0900 Tenet Healthcare Corp (THC). Annual Shareholders Meeting
0930 Quanta Services Inc (PWR). Annual Shareholders Meeting
1000 BancFirst Corp (BANF). Annual Shareholders Meeting
1000 Dollar General Corp (DG). Q1 earnings conference call
1000 GCP Applied Technologies Inc (GCP). Annual Shareholders Meeting
1000 Installed Building Products Inc (IBP). Annual Shareholders Meeting
1000 Intercept Pharmaceuticals Inc (ICPT). Annual Shareholders Meeting
1000 IPG Photonics Corp (IPGP). Annual Shareholders Meeting
1000 Jones Lang LaSalle Inc (JLL). Annual Shareholders Meeting
1000 Lamar Advertising Co (LAMR). Annual Shareholders Meeting
1000 Neogenomics Inc (NEO). Annual Shareholders Meeting
1000 Perdoceo Education Corp (PRDO). Annual Shareholders Meeting
1000 Retail Properties of America Inc (RPAI). Annual Shareholders Meeting
1000 Sensata Technologies Holding PLC (ST). Annual Shareholders Meeting
1000 Unum Group (UNM). Annual Shareholders Meeting
1000 Vector Group Ltd (VGR). Annual Shareholders Meeting
1000 Wintrust Financial Corp (WTFC). Annual Shareholders Meeting
1030 Kinsale Capital Group Inc (KNSL). Annual Shareholders Meeting
1100 Amerco (UHAL). Q4 earnings conference call
1100 Exponent Inc (EXPO). Annual Shareholders Meeting
1100 Fidelity National Information Services Inc (FIS). Annual Shareholders Meeting
1100 Hamilton Lane Inc (HLNE). Q4 earnings conference call
1100 NuVasive Inc (NUVA). Annual Shareholders Meeting
1100 Sanderson Farms Inc (SAFM). Q2 earnings conference call
1100 Store Capital Corp (STOR). Annual Shareholders Meeting
1100 Taylor Morrison Home Corp (TMHC). Annual Shareholders Meeting
1100 Toll Brothers Inc (TOL). Q2 earnings conference call
1200 Douglas Emmett Inc (DEI). Annual Shareholders Meeting
1200 Employers Holdings Inc (EIG). Annual Shareholders Meeting
1200 Palomar Holdings Inc (PLMR). Annual Shareholders Meeting
1300 Cheesecake Factory Inc (CAKE). Annual Shareholders Meeting
1300 Ensign Group Inc (ENSG). Annual Shareholders Meeting
1300 Tenable Holdings Inc (TENB). Annual Shareholders Meeting
1300 Tilray Inc (TLRY). Annual Shareholders Meeting
1400 PennyMac Financial Services Inc (PFSI). Annual Shareholders Meeting
1400 Teladoc Health Inc (TDOC). Annual Shareholders Meeting
1400 TPG Specialty Lending Inc (TSLX). Annual Shareholders Meeting
1400 Wesco International Inc (WCC). Annual Shareholders Meeting
1430 Natera Inc (NTRA). Annual Shareholders Meeting
1430 TPG Specialty Lending Inc (TSLX). Shareholders Meeting
1630 Adverum Biotechnologies Inc (ADVM). Q1 earnings conference call
1630 Ollie's Bargain Outlet Holdings Inc (OLLI). Q1 earnings conference call
1630 Veeva Systems Inc (VEEV). Q1 earnings conference call
1630 VMware Inc (VMW). Q1 earnings conference call
1630 Zscaler Inc (ZS). Q3 earnings conference call
1645 DXC Technology Co (DXC). Q4 earnings conference call
1645 Nordstrom Inc (JWN). Q1 earnings conference call
1700 Costco Wholesale Corp (COST). Q3 earnings conference call
1700 FireEye Inc (FEYE). Annual Shareholders Meeting
1700 Northwest Natural Holding Co (NWN). Annual Shareholders Meeting
1700 Okta Inc (OKTA). Q1 earnings conference call
1700 Pure Storage Inc (PSTG). Q1 earnings conference call
1700 Salesforce.Com Inc (CRM). Q1 earnings conference call
1700 Ulta Beauty Inc (ULTA). Q1 earnings conference call
1700 Williams-Sonoma Inc (WSM). Q1 earnings conference call
1730 Dell Technologies Inc (DELL). Q1 earnings conference call
1730 PagSeguro Digital Ltd (PAGS). Q1 earnings conference call


EX-DIVIDENDS
AGNC Investment Corp (AGNC). Amount $0.12
Allstate Corp (ALL). Amount $0.54
Analog Devices Inc (ADI). Amount $0.62
Avista Corp (AVA). Amount $0.40
Badger Meter Inc (BMI). Amount $0.17
Bank of Hawaii Corp (BOH). Amount $0.67
Broadmark Realty Capital Inc (BRMK). Amount $0.06
Cabot Corp (CBT). Amount $0.35
Cboe Global Markets Inc (CBOE). Amount $0.36
Corning Inc (GLW). Amount $0.22
Crane Co (CR). Amount $0.43
CSX Corp (CSX). Amount $0.26
Cullen/Frost Bankers Inc (CFR). Amount $0.71
Dover Corp (DOV). Amount $0.49
Dow Inc (DOW). Amount $0.70
DuPont de Nemours Inc (DD). Amount $0.30
Evercore Inc (EVR). Amount $0.58
FactSet Research Systems Inc (FDS). Amount $0.77
Fortive Corp (FTV). Amount $0.07
Fortune Brands Home & Security Inc (FBHS). Amount $0.24
GrafTech International Ltd (EAF). Amount $0.01
Hubbell Inc (HUBB). Amount $0.91
Huntington Ingalls Industries Inc (HII). Amount $1.03
Kraft Heinz Co (KHC). Amount $0.40
Materion Corp (MTRN). Amount $0.11
Mesa Laboratories Inc (MLAB). Amount $0.16
Newell Brands Inc (NWL). Amount $0.23
NU Skin Enterprises Inc (NUS). Amount $0.37
Onemain Holdings Inc (OMF). Amount $0.33
Piper Sandler Companies (PIPR). Amount $0.20
Power Integrations Inc (POWI). Amount $0.21
Prospect Capital Corp (PSEC). Amount $0.06
Reliance Steel & Aluminum Co (RS). Amount $0.62
RLI Corp (RLI). Amount $0.24
SL Green Realty Corp (SLG). Amount $0.29
STAG Industrial Inc (STAG). Amount $0.12
Stepan Co (SCL). Amount $0.27
Tennant Co (TNC). Amount $0.22
Union Pacific Corp (UNP). Amount $0.97
Valvoline Inc (VVV). Amount $0.11
Voya Financial Inc (VOYA). Amount $0.15
Yum! Brands Inc (YUM). Amount $0.47

Goedemorgen
Een mooie dag zo te zien vandaag, we beginnen richting de zomer te vorderen, of we op vakantie kunnen is nog maar de vraag maar hier en daar begint het wat te kriebelen bij veel mensen. Wel ziet het er naar uit dat de regeringen wel toeristen willen ontvangen maar aan de andere kant willen ze ook wat angst erin zien te krijgen zodat slechts 50% van het normaal aantal mensen dat naar het Zuiden vertrekt dat ook doet. Het blijft aanslepen het corona verhaal, aan de markten merken we het haast niet aangezien de forse stijgingen hier en daar de afgelopen dagen. Het is nog maar de vraag of dat kan worden vastgehouden.

Vanmorgen zien we een verdere escalatie tussen de VS en China op ons afkomen, het vreemde hierbij is dat als het in 2019 zou zijn geweest de markten een goeie 2-3% lager zouden staan, nu als alles stil ligt merken we dat met alle ellende die er nog ons afkomt wat betreft de economie de markten vrolijk verder stijgen. Hoe ik het moet verklaren weet ik niet, het is moeilijk en niet echt uit te leggen. Wat we nu zien is sector rotatie, de tech wordt in de uitverkoop gedaan terwijl nu de industrie, transport en financiële waarden fors oplopen. Het valt dan ook op dat het de Dow Jones en de DAX zijn die de afgelopen dagen met forse winsten uitblinken, de AEX (met ASML) en de Nasdaq samen met de Nasdaq 100 doen totaal niet mee deze keer. De AEX stond gisteren zelfs even op 522 punten terwijl de Nasdaq 100 op een bepaald moment 200 punten lager stond. Richting het slot werd dat wel allemaal weer opgehaald met de bekende slotrally op Wall Street.

De futures staan er vanmorgen weer verdeeld bij, de Nasdaq vlak tot iets lager, de S&P 500 zien we 10 punten hoger terwijl de Dow future 180 punten hoger staat. We moeten afwachten wat de markt in de loop van de dag zal doen, er komen natuurlijk weer cijfers over de economie in Europa en de VS, even zien hoe diep die zullen uitpakken ... Uit de VS om 14:30 krijgen we de jobless claims, de economische groei (Q1) en de Durable Goods ... Ook de huizenverkoop cijfers en de olievoorraden krijgen we vanmiddag. Even zien hoe de markt daarop zal reageren in de loop van de middag ...

Verder blijf ik uitkijken naar kansen, zit ik na wat aanpassingen in de markt op meerdere indices en bij de Aandelen portefeuille en Guy Trading ook in wat aandelen. Wie de posities nog wil opnemen kan dat doen door lid te worden ... Er loopt een aanbieding tot 1 augustus voor €39 ... Schrijf u in via de link https://www.usmarkets.nl/tradershop

Tot straks ... Guy

Trump may make it easier for regulators to crack down on companies curbing users’ content

A draft of an executive order President Donald Trump is expected to sign on Thursday would seek to limit the broad legal protection that federal law currently provides social-media and other online platforms, according to people familiar with the draft.

The draft order would make it easier for federal regulators to hold companies such as Twitter and Facebook liable for curbing users’ speech, for example by suspending their accounts or deleting their posts, the people said.

The draft is not yet finalized and is subject to change, the people said. It comes after Twitter on Tuesday moved for the first time to apply a fact-checking notice to tweets by the president on the subject of voter fraud. Mr. Trump on Tuesday accused the company of stifling free speech and vowed to take action.

The executive order would mark the Trump administration’s most aggressive effort to take action against social-media companies, which the president has threatened to do for years. The order would also likely be challenged in court, experts said

GLOBAL TOP NEWS
U.S. Secretary of State Mike Pompeo told Congress on Wednesday that Hong Kong no longer qualifies for its special status under U.S. law, potentially dealing a crushing blow to its status as a major financial hub.

European governments moved on Wednesday to halt the use of anti-malaria drug hydroxychloroquine to treat COVID-19 patients, and a second global trial was suspended, further blows to hopes for a treatment promoted by U.S. President Donald Trump.

U.S. President Donald Trump will sign an executive order on social media companies, White House officials said after Trump threatened to shut down websites he accused of stifling conservative voices.


EUROPEAN COMPANY NEWS
Lufthansa's $10 billion government bailout was thrown into doubt on Wednesday after the German airline's supervisory board refused to accept the conditions attached by Brussels.

Renault, Nissan Motor and Mitsubishi Motors ruled out a merger on Wednesday and doubled down on a plan to cooperate more closely on car production to save costs and salvage their troubled alliance.

FedEx is on the point of taking a stake in German parcel delivery firm Hermes, the Handelsblatt newspaperreported on Wednesday.


TODAY'S COMPANY ANNOUNCEMENTS
Adocia SA Annual Shareholders Meeting
Amoeba SA Annual Shareholders Meeting
Applus Services SA Annual Shareholders Meeting
Aqualisbraemar ASA Q1 2020 Earnings Call
Atoss Software AG Annual Shareholders Meeting
Austevoll Seafood ASA Annual Shareholders Meeting
BF SpA Annual Shareholders Meeting
Bidstack Group PLC Annual Shareholders Meeting
Biofrontera AG Annual Shareholders Meeting
BioInvent International AB Annual Shareholders Meeting
Bodycote PLC Annual Shareholders Meeting
Boiron SA Annual Shareholders Meeting
Centrotec SE Annual Shareholders Meeting
Cie de Chemins de Fer Departementaux SA Annual Shareholders Meeting
Codere SA Q1 2020 Earnings Call
Compagnie Imm obiliere de Belgique SA Annual Shareholders Meeting
Cosmo Pharmaceuticals NV Annual Shareholders Meeting
Courtois SA Annual Shareholders Meeting
Cpi Fim SA Annual Shareholders Meeting
Cpi Property Group SA Annual Shareholders Meeting
CPPGroup PLC Annual Shareholders Meeting
Crossword Cybersecurity PLC Annual Shareholders Meeting
Daily Mail and General Trust PLC HY 2020 Earnings Release
Deutsche Pfandbriefbank AG Annual Shareholders Meeting
Dierig Holding AG Annual Shareholders Meeting
D'Ieteren SA Annual Shareholders Meeting
Ekinops SA Annual Shareholders Meeting
Electricite de Strasbourg SA Annual Shareholders Meeting
Endeavour Mining Corp Annual Shareholders Meeting
Euwax AG Annual Shareholders Meeting
EVN AG HY 2020 Earnings Release
FCR Imm obilien AG Annual Shareholders Meeting
Ferrexpo PLC Annual Shareholders Meeting
Financiere de l'Odet SA Annual Shareholders Meeting
FLEX LNG Ltd Q1 2020 Earnings Call
Fnac Darty SA Annual Shareholders Meeting
Glaston Oyj Abp Annual Shareholders Meeting
Gruppo MutuiOnline SpA Annual Shareholders Meeting
Homag Group AG Annual Shareholders Meeting
Hopscotch Groupe SA Annual Shareholders Meeting
Idox PLC Annual Shareholders Meeting
ILPRA SpA Annual Shareholders Meeting
Imm ofinanz AG Q1 2020 Earnings Call
Inventiva SA Annual Shareholders Meeting
Ipsos SA Annual Shareholders Meeting
IVU Traffic Technologies AG Annual Shareholders Meeting
Knot Offshore Partners LP Q1 2020 Earnings Call
LEG Imm obilien AG Annual Shareholders Meeting
Memscap SA Annual Shareholders Meeting
Merck KGaA Annual Shareholders Meeting
Navigator Company SA Annual Shareholders Meeting
Navigator Holdings Ltd Q1 2020 Earnings Release
NFON AG Annual Shareholders Meeting
NN Group NV Annual Shareholders Meeting
Nobina AB Annual Shareholders Meeting
Nordea Bank Abp Annual Shareholders Meeting
Norwegian Air Shuttle ASA Q1 2020 Earnings Release
Outokumpu Oyj Annual Shareholders Meeting
Panoro Energy ASA Q1 2020 Earnings Release
PayPoint PLC FY 2019 Earnings Call
Pennon Group PLC Shareholders Meeting
Pixium Vision SA Annual Shareholders Meeting
Porr AG Annual Shareholders Meeting
Rocket Internet SE Q1 2020 Earnings Call
Safran SA Annual Shareholders Meeting
SAS AB Q2 2020 Earnings Release
Serma Group SA Annual Shareholders Meeting
SIG PLC FY 2019 Earnings Release
Spie SA Annual Shareholders Meeting
Strix Group PLC Annual Shareholders Meeting
STV Group PLC Annual Shareholders Meeting
UBM Development AG Annual Shareholders Meeting
Valbiotis SA Annual Shareholders Meeting
Weborama SA Annual Shareholders Meeting
Xpo Logistics Europe SA Annual Shareholders Meeting


ECONOMIC EVENTS (All times GMT)
0700 Spain HICP Flash yy for May: Expected -0.9%; Prior -0.7%
0700 (approx.) Spain CPI yy Flash NSA for May: Expected -0.9%; Prior -0.7%
0700 (approx.) Spain HICP Flash mm for May: Expected 0.0%; Prior 0.4%
0700 (approx.) Spain CPI mm Flash NSA for May: Expected 0.00%; Prior 0.30%
0700 (approx.) Spain CPI Flash NSA for May: Prior 103.992
0700 (approx.) Spain Retail Sales yy for Apr: Prior -14.1%
0700 (approx.) Sweden Overall Sentiment for May: Prior 58.6
0700 (approx.) Sweden Consumer Confidence SA for May: Prior 73.9
0700 (approx.) Sweden Manufacturing Confidence for May: Prior 70.5
0700 (approx.) Sweden Total Industry Sentiment for May: Prior 53.1
0730 Sweden Retail Sales mm for Apr: Expected -2.1%; Prior -1.7%
0730 Sweden Retail Sales yy for Apr: Prior 0.6%
0800 Italy Manufacturing Business Confidence for Apr: Expected 79.0; Prior 89.5
0800 Italy Consumer Confidence for Apr: Expected 88.5; Prior 101.0
0830 (approx.) Portugal Business Confidence for May: Prior -0.70
0830 (approx.) Portugal Consumer Confidence for May: Prior -21.00
0900 (approx.) Italy Flash Trade Balance Non-EU for Apr: Prior 5.21 bln EUR
0900 (approx.) Euro Zone Business Climate for May: Prior -1.81
0900 Euro Zone Economic Sentiment for May: Expected 70.3; Prior 67.0
0900 Euro Zone Industrial Sentiment for May: Expected -27.0; Prior -30.4
0900 Euro Zone Services Sentiment for May: Expected -28.6; Prior -35.0
0900 Euro Zone Consumer Confidence Final for May: Expected -18.8; Prior -18.8
0900 Euro Zone Consumer Inflation Expected for May: Prior 29.1
0900 Euro Zone Selling Price Expected for May: Prior -7.9
0930 (approx.) Belgium CPI mm for May: Prior 0.16%
0930 (approx.) Belgium CPI yy for May: Prior 0.57%
1000 (approx.) Italy Producer Prices mm for Apr: Prior -1.0%
1000 (approx.) Italy Producer Prices yy for Apr: Prior -3.6%
1200 (approx.) Germany CPI Preliminary mm for May: Expected -0.1%; Prior 0.4%
1200 (approx.) Germany CPI Preliminary yy for May: Expected 0.6%; Prior 0.9%
1200 (approx.) Germany HICP Preliminary mm for May: Expected -0.1%; Prior 0.4%
1200 (approx.) Germany HICP Preliminary yy for May: Expected 0.5%; Prior 0.8%
2301 United Kingdom GfK Consumer Confidence for May: Expected -34; Prior -34