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Stock market on edge as traders wait to see if Trump hikes tariffs

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U.S. equity futures were little changed Thursday as traders awaited a midnight deadline for tariffs to increase.

div > div.group > p:first-child"> Stock futures opened slightly lower, with S&P futures down 0.02%. Dow and Nasdaq futures were both 0.04% lower.

Peter Boockvar, chief investment officer of Bleakley Advisory Group, said the market reaction will be extreme in either direction, depending on the outcome of Thursday night's dinner. On Monday, stocks shook off the president's weekend tweet as a mere negotiation tactic. But tougher rhetoric by top U.S. trade representative Robert Lighthizer weighed on major indexes. The White House set a Friday deadline to strike a deal before existing tariffs increased from 10% to 25%.

"This is the new normal for U.S.-China trade relations — it's almost become trade policy by tariff threat," Lafferty said."What concerns me the most is, even if we do get a trade deal — which I think we will — is the market's positive reaction will be fleeting.""The markets are ruled by the news headlines, and at this time, no one can guess which way the president or China is going to go," said Chris Rupkey, chief financial economist at MUFG Union Bank.

 

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The markets will bounce back. People buy and sell emotionally. Just remember the tariff threat thing is temporary. It will be adjusted. Since it's a scare tactic, it is meant to bring about a change. People just have to be patient. Things will go back to normal.

I’m banking on progress tonight

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