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Ahead of their G20 meeting in Osaka, President Xi plans to present President Trump with a set of terms the U.S. should meet before China is ready to settle their market-rattling trade confrontation, WSJ reports. Among the preconditions, Beijing is insisting that Washington remove its ban on the sale of American technology to Huawei and also wants the U.S. to lift all punitive tariffs. The nation additionally wants the Trump administration to drop efforts to get China to buy even more U.S. exports than Beijing said it would when the two leaders last met in December. (SA)

 

Wall Street’s biggest banks did well when the first round of the Federal Reserve stress test results were released last week. The second round of those tests is due today, including the Comprehensive Capital Analysis and Review (CCAR), which will set out how much the banks can return to investors in dividends and buybacks. Analysts are predicting a higher payout than last year due to the promising first round results. (Bloomberg)

 

After getting the green light from U.S. regulatory authorities last month, IBM is expected to win unconditional EU approval today for its largest ever takeover, a $33B bid for open-source provider Red Hat.  The deal would expand the firm's subscription-based software offerings to counter slowing software sales and waning demand for mainframe servers. It would also help IBM catch up with Amazon, Alphabet, and Microsoft in the fast-growing cloud computing business.

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

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