Dow set for best day in 3 months as stocks try for rebound from trade-sparked rout

Stocks regained some of their bullish form Tuesday, a day after a sharp escalation in U.S.-China trade tensions triggered the worst session for major indexes since early January.

What’s driving the market? The start of the week was marked by a ramp up in trade tensions after China fired back at U.S. tariffs with retaliatory duties that could reach 25% on $60 billion in annual U.S. exports. That was after the U.S. last week raised tariffs on $200 billion in annual Chinese imports to 25% from 10%, and threatened more following talks that ended Friday between the two countries without a deal.

Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now. Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy...... — Donald J. Trump May 14, 2019 What economic data and speakers are in focus? Small-business optimism rose to a four-month high in April, gaining 1.7 points to 103.5, according to the NFIB Small Business Optimism index, released Tuesday morning.

What are strategists saying? “There is still the a belief that a trade deal gets done because it’s in both parties best interest,” Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management, told MarketWatch. “The market is giving the benefit of the doubt because it believes the Fed is there to put a bottom in the market,” if the trade dispute causes markets to fall to such an extent that it impacts the broader economy.

Shares of Ralph Lauren Corp. RL, -3.62% fell 4.2% even after the clothing retailer reported first-quarter sales and profits that surpassed Wall Street expectations, while raising its quarterly dividend by 10%.

You guys. Key word here is 'volatility'.

😠

DTNMarkets ... last week better

All is well. 😱

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