Stocks need to drop at least 10% before Trump changes harsh trade tone: Raymond James

Raymond James' Ed Mills says equities would have to experience a correction of at least 10% "before Trump starts talking up the prospects of a G20-timed deal.""While there is some hope for continued talks, longer-term expectations are being downgraded on the ability to strike a meaningful deal unless political calculations see a significant directional change over the next couple months," Mills says.

Mills wrote in a note to clients Tuesday that equities would have to experience a correction of at least 10% "before Trump starts talking up the prospects of a G20-timed deal." Trump and his Chinese counterpart, Xi Jinping, are expected to meet at next month's G-20 summit. "In the meantime, we expect threats of escalation by both sides in an effort to build negotiating leverage ahead of the G20 meetings," Mills said. "While there is some hope for continued talks, longer-term expectations are being downgraded on the ability to strike a meaningful deal unless political calculations see a significant directional change over the next couple months."

Trade tensions between China and the U.S. reemerged last week after Trump hiked tariffs on $200 billion worth of Chinese imports. The president also raised the possibility of slapping tariffs on an additionalStocks have fallen sharply since Trump first threatened to raise levies on Chinese goods on May 5. The

I feel this is just fake news. Even though I’m not republican but Trump is doing right stuff on tariffs to avoid China 👍

So, by Friday then, eh?

Blatant manipulation.

😂 if you brake many times that could fell that wouldn’t be easy as you people think..

WHAT POTUS SAYS SHOULD NOT EFFECT THE MARKET. BECAUSE IT IS NONE STOP

Trump’s probably trying to time a market dip and recovery for the election year.

Trump controls the market. His kids buy and sell what ever stock based on the insider information that Trump has. Trump buys and sells stocks based on his tweets and Greed. Trumps mouth decides if market goes up or down. Trump buys stocks and shorts stocks.

Nice, let's see 5% more today and another 5% tomorrow.

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