A Chinese Ministry of Commerce spokesman said that trade teams from his country and the U.S. remain in close contact as Sunday’s deadline for higher tariffs approaches. Officials from China are expecting a delay to the measure to give more time to reach an interim deal, according to people familiar with the discussions. There may be some news on that later today as President Donald Trump is expected to meet his trade team. (Bloomberg)
Traders will get quarterly results after the bell from Adobe, Broadcom and Oracle, which are usually the last to report following the busy earnings season. Robust adoption is anticipated in Adobe's Digital Media Solutions, as well as impressive growth at its Creative Cloud and Document Cloud business lines. Broadcom is meanwhile expected to benefit from the upcoming 5G cycle, but weakness may be seen from recent enterprise networking and storage trends, while Oracle results are likely to reflect solid adoption of cloud-based services. (SA)
Saudi Aramco briefly reached a $2tn valuation on its second day of trading on Riyadh’s Tadawul stock exchange. The shares rose 10 per cent — the daily limit — before falling back. Saudi Arabia’s ambitious Crown Prince Mohammed bin Salman has long sought a $2tn valuation for Saudi Aramco, which became the world’s most valuable publicly listed company after its debut yesterday. (First FT)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.