President Trump meets with China President Xi Jinping at the start of their bilateral meeting at the G-20 leaders summit in Osaka, Japan. Photo: kevin lamarque/Reuters By Spencer Jakab June 29, 2019 8:08 am ET The Fourth of July fireworks will come a few days early this year for traders.
The most obvious winners from the summit’s aftermath will be U.S. technology companies with direct or indirect exposure to embattled Chinese telecom giant Huawei Technologies Co. In remarks following the meeting, Mr. Trump said that U.S. companies would be able to sell equipment to Huawei that has “not a great national-emergency problem with it.” Though the U.S. and other western nations may forgo buying allegedly compromised Huawei equipment, software and chip companies may keep supplying it.
Stocks overall are likely to rise on the benign outcome of the talks. The question, though, is whether the gains will last, even for the sectors most likely to benefit. U.S. equity markets just closed out their best June in over 60 years and their best first half in over 20 largely on expectations that the Federal Reserve is set to come to the rescue with rate cuts. June began with a surprisingly weak U.S. payrolls number that, coupled with trade concerns and a slew of tepid U.S.
Even chip stocks and agricultural commodities could give back gains. The Philadelphia Semiconductor Index is up by nearly 28% this year despite the Huawei tensions amid mixed news such as weakness in data-center demand. In the longer run, U.S. threats to cripple telecommunication equipment companies ZTE and Huawei have given China a strong incentive to become self-sufficient in key technologies, which could ultimately hurt the business prospects of U.S. tech companies.
Trump is damaging the USA and its citizens every day. He's like a hairdryer - only blowing hot air. 0 respect for this 'stable genius'.
What the hell does “heard on the street” mean? Great source.
Has Trump successfully negotiated anything yet? This dude is inept.
But, Trump is a stable genius who’s never wrong.
sdonnan The WH has thinkers?
I can tell the things that youre dreamin about, i hear the secrets that you keep when your talkin in your sleep. Everything about you is a mystery
realDonaldTrump 70年來，中美共同犯下殺人罪，數億人命，無數家庭妻離子散，家破人亡！你和你的家族有了這份！這杯必永不離開你和你的家族。我如此向聖潔的上帝求！IvankaTrump FLOTUS HongXiuzhu WhiteHouse VP AbeShinzo theresa_may netanyahu moonriver365 NikkiHaley SecPompeo
Trump, same as other presidents, is fooled by CCP. Don’t blame Obama again
The science of economics is in turmoil, with fundamentals of Econ 01 being supplanted by political rhetoric. In the basics are the tools to create whatever society one wishes.
Talk that talk baby better walk better walk that walk baby
Why did Nixon decide to make China rich? What was the thinking after fighting communism at every level then all of a sudden a bunch of corps wanted to spend less on wages and u lose ur balls and sellout to China? Wtf is wrong with u.
No shit
Have any of your predictions been right?
Im gonna check out if that's alright with you
And the Chinese know it, they are waiting him out !
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