Samarium Holds the Key in the US-China Trade Talks

Chip stocks have rallied as U.S. eyes export control swap with China

Highlights

• Chip stocks have rallied as U.S. eyes export control swap with China

• Risks are to the downside for tomorrow’s CPI report

• Structural downward pressures remain for the Canadian dollar

• Health Care stocks slump amid cuts in Republican budget

Key Takeaways

• S&P Rally Decoupled From Key Sector: There is one glaring anomaly out there and it is this: the major averages are now a whisker from retesting the record highs, but the S&P 500 asset management group is still -13% below its highs. This is a subsector with a 94% correlation with the S&P 500 over the past two decades. Both can’t be right.