Stocks rose on Monday as trade talks between China and the U.S. neared the finish line, increasing expectations that a deal between the two countries could be on the horizon.
"Markets expect a deal by the end of March, but the key here will be whether the deal results in the removal of all tariffs," said Tom Essaye, founder of The Sevens Report."The reports this morning imply that might happen, but it will have to become reality for US-China trade to provide a sustainable positive catalyst for stocks."
However, the U.S. wants the ability to re-impose levies on Chinese goods if talks fail on enforcement mechanisms on intellectual property theft and related matters. According to sources, this is not sitting well with the Chinese. "The news has been priced into U.S. equities," said John Davi, chief investment officer at Astoria Portfolio Advisors."But if you take a step back, positioning is still pretty light in U.S. equities, so even though we think everything is priced in, we could rally a little bit more. People haven't re-risked their portfolios since December. If you look at fund flows … it's still very light on the positioning side for U.S. stocks.
There is no closer, as there is no deal date
It was quite an up and down day on Wall Street. Stocks closed lower, though they rose a bit from the highs of the day.
couldn't agree with Aventador480 more. plus this administration has a rather poor record of speaking the truth so i'm skeptical of their sources. i wonder if the market has priced in a Trump impeachment. it seems to ignore this possibility.
I’ll take it but how many times can we rally on the same story? Haha
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