Stocks are headed for their worst week of 2019 after Trump's latest trade-war escalation

Rising trade tensions between the US and China pushed stocks toward their worst week of 2019 as major indexes slid by more than 1.3% at their lowest levels. On Friday, China announced its intentions to retaliate against the US for imposing a new 10% tariffs on $300 billion worth of Chinese products. Employment data for July was also released on Friday, with the US economy adding 164,000 nonfarm payrolls during the month.

Rising trade tensions between the US and China pushed stocks toward their worst week of 2019 as major indexes slid by more than 1.3% at their lowest levels. On Friday, China announced its intentions to retaliate against the US for imposing a new 10% tariffs on $300 billion worth of Chinese products. Employment data for July was also released on Friday, with the US economy adding 164,000 nonfarm payrolls during the month.

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Leon Cooperman: Trump is pulling market gains forward by trying to boost stocks before the electionIf the Fed cuts interest rates, it will have to convince the public it is doing so to preserve economic growth and not kowtowing to a very vocal president. Agree with that. Every week they put out a trade deal headline. That only influences his rich friends. Every day people will vote their pocketbook and it AIN’T better. Sure people have jobs but many have several jobs because their wages SUCK! Thanks, Captain Obvious.
Source: CNBC - 🏆 12. / 72 Read more »