Hooper believes it's almost inevitable investors will get another batch of disappointing news on"Since the beginning, I haven't found any compelling reason why China would want to make major concessions to the U.S.," the firm's chief global market strategist told CNBC's "" on Tuesday. "I always expected that either the U.S. would accept minor concessions around making smaller the trade deficit or that there wouldn't be a resolution to this.
According to Hooper, May's market pullbacks off trade setbacks were warranted because Wall Street painted itself into a corner by wrongly pricing in a meaningful resolution to the dispute. She's warning investors that more adjustments are needed. The size and length, she said, is headline dependent."The game changer for 2019, of course, is the Fed. It changed its policy stance in a very significant, abrupt way. And so, that provides a cushion under stocks," she said.
"I would expect volatility both up and down," Hooper said. "But not a meaningful rally if we don't see some kind of resolution."
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