US MARKETS:

S&P 500 futures down 0.3% to 2,891.25
Brent futures down 0.2% to $61.22/bbl
Gold spot up 0.8% to $1,352.75
US Dollar Index up 0.1% to 97.13

GLOBAL NEWS:

The Huawei invoice. Vigilance in the semiconductor sector, after the warning issued last night by Broadcom Inc. This is due to the global economic climate and restrictions imposed on Huawei, one of its largest customers. The American company explained that banning the Chinese firm would cost him about $2 billion in sales.

Kentucky Bourbon. Pernod Ricard acquired the Kentucky-based super premium bourbon brand Rabbit Hole. The financial terms and conditions were kept secret.

Divergences of perception. More than 600 American companies, including Walmart and Target, have urged Donald Trump to end the commercial arm wrestling with China for fear of its impact on American consumers.  They believe that the implementation of generalized tariffs is not an effective tool to change China's unfair trade practices. "Tariffs are taxes paid directly by U.S. companies," not China, the companies said to Trump. "Tariff increases and uncertainty around these trade negotiations have created turmoil in the markets, threatening our historic economic growth." It is written in the letter sent to the Presidency. On the same subject, the US authorities have refused requests for exemption from surtax on certain components imported from China, submitted by Tesla, Uber or General Motors.

Sony, Loeb's back. The Third Point activist fund is urging Sony to split its activities in two, semiconductors on the one hand and entertainment on the other. Daniel Loeb's fund had already attacked the Japanese in 2013. This time, in addition to the call for a demerger, it also recommends that Sony divest itself of its interests in various other entities, such as Spotify or Olympus.

Hongmeng to overcome Android. Huawei has applied to WIPO to register its "Hongmeng" operating system in Europe and several other countries, including Canada and South Korea. The Chinese must be prepared for any eventuality since their access to Android is threatened by the measures being taken by the American authorities. "We are delighted to be part of the Android family, but Hongmeng is in the testing phase, mainly in China," said a Huawei spokesman, who said the ES could be deployed in a few months if necessary.

Beijing also surcharges steel. China has raised its tariffs on stainless steel products to limit their import into the country. Steel tubes from Europe and the United States are particularly concerned, with the highest surcharges (above 100%) for American companies.

In other news. Volkswagen offers the shares of its Traton truck subsidiary for between EUR 27 and 33. In advance of next week's launch of its cryptocurrency, Facebook has secured the support of several major players, including Visa, Mastercard, Uber and PayPal. The US Treasury Department has agreed to deal with Expedia, which will pay USD 325,000 for violating the Cuban embargo. The distributor of Chewy pet products will go public at USD 22 per share, above expectations.