Stocks rise after Hong Kong drops extradition law plans, U.K. lawmakers bar "no-deal" Brexit Wall Street's major averages reversed yesterday's slide with across-the-board gains as a reversal in Hong Kong and a move to stop a "no-deal" Brexit calmed some investor nerves. Stocks in the U.S. followed Asian markets higher after Hong Kong's Carrie Lam formally withdrew the extraditions legislation that had set off three months of protests in the region. ECONOMIC EVENTS: In the U.S., the trade deficit narrowed 2.7% to $54.0B in July as exports bounced 0.6% and imports dipped 0.1%. The latest Beige Book stated that reports from Federal Reserve Districts suggested that the economy expanded at a modest pace through the end of August. In Asia, stocks rose on both the Hong Kong news as well as better than expected services PMIs from both Japan and China. In Europe, the U.K. House of Commons voted 327 to 299 in favor of forcing Prime Minister Boris Johnson to ask the EU to delay Brexit by three months to January 31 if a deal is not agreed upon. In response, Johnson is proposing an early general election be held on October 15. TOP NEWS: Shares of Starbucks (SBUX) slipped fractionally after the coffee giant used presentation slides at a Goldman Sachs conference to temper its outlook for fiscal 2020. The company's 2020 earnings outlook is below its "ongoing growth model" of 10%-plus, as well as its 2018 investor day outlook of at least 13%, due to the lapping of one-time tax benefits in fiscal 2019 and normalized share repurchase volume, according to the presentation. The Nikkei Asian Review reported that Apple (AAPL) plans to launch a lower-cost iPhone in 2020 to win users in emerging markets and retake market share that it has lost in China. Google (GOOGL) subsidiary YouTube will pay a "record" $170M to settle allegations by the Federal Trade Commission and the New York Attorney General that the video sharing service illegally collected personal information from children without their parents' consent, the FTC announced. YouTube marketed itself as a top destination for kids in presentations to the makers of popular children's products and brands, including Mattel (MAT) and Hasbro (HAS), the FTC complaint noted. MAJOR MOVERS: Among the notable gainers was Box (BOX), which jumped 12.3% after activist investor Starboard Value disclosed a 7.5% stake in the company. Also higher was Tapestry (TPR), which gained 5.1% after Jide Zeitlin, the company's chairman of the board, was appointed CEO in replacement of Victor Luis, who is leaving the company and its board. Among the noteworthy losers was Tyson Foods (TSN), which fell 7.7% after the company cut its FY19 adjusted earnings guidance, stating that it is experiencing short-term challenges that are negatively affecting Q4 earnings. Also lower were shares of American Eagle (AEO), which fell 11.6% following the company's second quarter report. INDEXES: The Dow rose 237.45, or 0.91%, to 26,355.47, the Nasdaq gained 102.72, or 1.30%, to 7,976.88, and the S&P 500 advanced 31.51, or 1.08%, to 2,937.78. Symbols: $SBUX $AAPL $GOOGL $GOOG $TSN $AEO $BOX $TPRSource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.