Stocks failed to rebound from a deep sell-off this week as investors remain on edge that the U.S and China would be unable to reach a trade agreement this week.
The 30-stock Dow jumped midday Wednesday after White House Press Secretary Sarah Sanders affirmed President Donald Trump's tweet earlier that China is coming to Washington this week to strike a deal."I would still say this is very precarious, and you are still getting the U.S. spin on things," said Marc Chandler, chief market strategist at Bannockburn Global Forex."I think tomorrow is a wildcard.
"It's another cliffhanger," said Larry Adam, chief investment officer at Raymond James, referring to Trump's tariff threat."There are so many levers that can be pulled here. I still think ultimately we do end up getting a deal because it's too important for both economies." If tariffs do go up to a full 25% on Chinese goods, it could start to impact U.S. companies' earnings growth and consumer confidence going forward, Raymond James' Adam said.
"An increase in the tariff rate probably wouldn't result in a complete breakdown in negotiations and as a result the S&P 500 should be able to hold at 2850 or above," said Adam Crisafulli, a J.P. Morgan managing director."There is still a huge swath of Chinese imports not subject to tariffs and this will form the basis of additional talks."
realDonaldTrump lost over a Billion Dollars he is trying to do the same for America
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