What’s in Today’s Report:
- The Most Important Central Bank Meeting This Week (it’s Not What You Think)
- Weekly Market Preview
- Weekly Economic Cheat Sheet
Futures are modestly higher thanks to decent Chinese economic data, following a generally quiet weekend.
Chinese August exports beat expectations, rising 10.0% vs. (E) 9.8%, providing more evidence that economic stimulus measures from Chinese officials are starting to work.
On trade, Friday afternoon President Trump again threatened to tax all Chinese exports to the U.S., but that threat is a repeat, and nothing new happened over the weekend.
Today there are no economic reports and only one Fed speaker, Bostic (11:30 a.m. ET), so focus will remain on any trade headlines regarding the $200 billion in additional Chinese tariffs. Any hints the tariffs are imminent and near the stated total of $200 billion will hit markets, and without support from the tech sector, the chances of a short term pullback in stocks remain uncomfortably high.