Tensions with China over Hong Kong persist, though
After a hot start to begin the holiday-shortenedweek, Dow Jones Industrial Average (DJI) futures are soaring once again, as investor optimism builds surrounding the reopening of the economy. Shares of airlines and cruise lines lead the premarket gains, asvarious states begin to roll back lockdown restrictions put in place to combat the coronavirus outbreak. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are significantly abovefair value as well, although is Wall Street monitoring mounting U.S.-China tensions, as the Trump administration weighs sanctions against the superpower for its new Hong Kong laws.
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AutoZone stock is higher after a positive earningsreport.Bear comments from its CEO sendbulls flocking to Deutsche Bank. Plus, Boeing up again; Domino's demand dips; and Trump takes on Twitter.Stocks in Asia were mixed today, after tensions continue to rise between the U.S. and China over the latter's proposed security laws in Hong Kong, as well as increased protests in the area. White House press secretary Kayleigh McEnany says"it's hard to see how Hong Kong can remain a financial hub" if Beijing imposes these laws. China's Shanghai Composite lost 0.3% for the day, while Hong Kong's Hang Seng dropped 0.4%. Elsewhere, the Kospi in SouthKorea gained 0.1 %, and Japan's Nikkei pared earlier losses to finish 0.7% higher.
In Europe, stocks are moving higher amid news that the European Union (EU) will announce a ?,?750 billion ($825 billion) stimulus program for coronavirus recovery efforts. In response, the German DAX is up 2%, the French CAC 40 has risen 1.9%, and London's FTSE 100 has tacked on 1.4%.