1 ) Hewlett Packard is buying the supercomputer maker Cray for $1.4 billion dollars. HP is intent on strengthening it position against IBM by expanding its high end computer line, expanding into AI (Artificial Intelligence), Internet of things and distributed computing offerings, and is expecting to see a return on investment in the next two years.
2) There are reports that the U.S. China trade talks have been put on hold, causing a reversal of the markets. The holdup is the increased scrutiny of Chinese telecom companies. This scrutiny is making it harder for Chinese companies such as Huawei to do business with U.S. companies.
3) Airline baggage fees is becoming an increasingly lucrative source of income. The U.S. airlines brought in $4.9 billion dollars from luggage fees, an 80% increase from 2009. Typical fees is $30 for the first bag, $40 for the second and $150 for the third. There are also expensive payments for heavy or oversize bags.
4) 17 MAY 19 Stock markets closing:
Dow 25,764.00 down 98.68
Nasdaq 7,816.28 down 81.76
S&P 500 2,859.53 down 16.79
10 Year Yield: down at 2.39%
Oil: down at $62.71