U.S. & China Trade Progress?
What’s in Today’s Report:
- Weekly Market Preview (Important Trade News & Earnings This Week)
- Weekly Economic Cheat Sheet
Futures are slightly higher on continued momentum from Friday’s rally following a quiet weekend.
Markets rose on Friday thanks to a WSJ article stating the U.S. & China want a trade compromise by November, and nothing this weekend disputed that report. So, cautious optimism is building a deal might get done.
Outside of the trade news the weekend was quiet. Turkey remains a problem (lira down 1%) but there was no, new negative news out.
Today there are no economic reports and only one Fed speaker, Bostic (11:00 a.m.).
So, markets will stay focused on 1) Trade headlines, 2) The dollar and 3) the tech sector. Trade should stay quiet into the U.S./China meetings Wed/Thursday. The dollar is bouncing from Friday’s declines and sustained dollar weakness remains the biggest key to a breakout in stocks, so any weakness there will be welcomed by investors. Finally, tech needs to remain stable in this environment so support stocks, and the price action there lately hasn’t been encouraging.
