Is the Trade War A Bearish Gamechanger Now?
What’s in Today’s Report:
- Updated Market Outlook
- Weekly Market Preview (All About U.S./China Trade)
- Weekly Economic Cheat Sheet
Futures are modestly higher after positive U.S./China trade comments by President Trump.
Trump stated early this morning that China “called” and conveyed a desire to get back to the negotiating table.
It’s unclear exactly what Trump means (Chinese officials say no call has happened between the U.S. and China today) but the generally optimistic tone is helping to reverse some of Friday’s declines.
Today any U.S./China trade-related headlines will move markets but it’ll take more than just vague commentary by officials to undo the damage done to markets and investors’ psyches on Friday.
Economically, Durable Goods (E: 1.1%) will be released later this morning and it’s an important number, as any potential economic slowdown will emanate from reduced business spending and investment. The bottom line, a solid number here will help economic sentiment.
