Fed Reserve Chaos, $CRM $M $HPQ

Chaos, Confusion, Earnings & Tariffs

Amid all the thick smoke on Fed confusion resulting in futures gains of close to 0.5% earlier this morning, here comes the 10% tariffs on Autos by China causing even more confusion as Larry Kudlow, and Donald Trump insinuated that progress was being made on the trade talks. It is important to note that the September deadline to implement more tariffs on China is still in place.

On a lighter note, it looks like the real tariff man is Xi Jinping.

Watchlist

The stocks that are moving this morning are: $M, $HPQ on downgrades, and $CRM on an upgrade

Salesforce(CRM)

Salesforce posted impressive earnings : 66c on revenue of $4B vs 47c & $3.95B expected.

There is a pretty good chance that Salesforce shares could rally toward $161 - which is the top of the trading channel. 

$M and $HPQ  could drop even more as they are now under their lower channels.