But trade is likely to remain the more important wild card for markets, as the calendar edges closer to Dec. 15, the date new tariffs on consumer goods from China would go into effect if there is no deal. The House holds impeachment hearings before the public for the first time in the coming week, but theStocks continued to rally to new highs this past week, but took a bit of a breather Friday.
"The way we've been interpreting this is it probably amounts to a truce. The United States has been using this rhetoric that it's a phase one deal. China has not embraced the same rhetoric. So I don't know if we'll get major progress on the thornier issues in the first deal," Keon said.
Powell's testimony is not expected to have as much potential to rock markets, after the clear message he sent to markets following the Fed's rate cut Oct. 30.
I say we just put Trump in front of a live chart of SPX and see how high he can sweet talk it. 'Chyna' +2 'Good deal' +4 'Tariffs' -3 'Rate cut' +11
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