“Stocks rose on Tuesday in choppy trading as investors hoped the U.S. and China will strike a deal on trade,” Fred Imbert reports for CNBC. “The Dow Jones Industrial Average traded 103 points higher, while the S&P 500 gained 0.3 percent. The Nasdaq Composite traded just above the flatline.”

“The indexes rose after National Economic Council Director Larry Kudlow said the White House was having ‘a lot of communication with the Chinese government at all levels’ ahead of a meeting between President Donald Trump and his Chinese counterpart, Xi Jinping,” Imbert reports. “‘The whole year comes down to the next few weeks,’ said Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management. ‘Most of what’s happening is geopolitics-related. If we can get clarity on any of those things (tariffs, Brexit, the Italian budget), especially tariffs, that would be positive for the market.'”

“Kudlow’s comments came after Trump told The Wall Street Journal that it was ‘highly unlikely’ that the U.S. would delay from increasing tariffs on $200 billion in Chinese goods to 25 percent. Trump went onto suggest that a 10 percent tariff on laptops and iPhones imported from China could be imposed. Shares of Apple dropped 0.6 percent while steel stocks fell broadly on Trump’s comments,” Imbert reports. “The moves on Tuesday come after Wall Street finished Monday’s session sharply higher, with the Dow Jones industrial average closing more than 350 points higher. The S&P 500 also rose more than 1 percent.”

Read more in the full article here.

MacDailyNews Take: Hopefully, President Trump’s meetings with Chinese President Xi Jinping at the G20 summit go well!

I’m cognizant that in both the U.S. and China, there have been cases where everyone hasn’t benefited, where the benefit hasn’t been balanced. My belief is that one plus one equals three. The pie gets larger, working together. — Apple CEO Tim Cook, March 24, 2018

SEE ALSO:
UBS: Apple could ‘ultimately mitigate’ President Trump’s proposed tariffs on iPhones, laptops – November 27, 2018
Apple rout worsens after President Trump suggests the U.S. could place a 10% tariff on iPhones and laptops made in China – November 27, 2018
Trump administration to spare some Apple products including Apple Watch, AirPods, and HomePod from latest China tariffs – September 17, 2018
China’s stock markets down as President Trump said to ready new tariffs – September 17, 2018
Cramer: Here’s why China won’t boycott Apple as part of its trade war with the US – August 7, 2018
Apple could be used as a ‘bargaining chip’ in the trade war, Chinese state-run media warns – August 7, 2018
Why the US-China trade war may not have much impact on Apple – July 17, 2018
Apple launches $300 million China Clean Energy Fund – July 13, 2018
What trade war? Markets shrug off US-China dueling tariffs – July 6, 2018
U.S. President Trump puts tech in trade war crosshairs with planned curb on China investment – June 25, 2018
The Trump administration told Apple it would not place tariffs on iPhones assembled in China – June 19, 2018
Chinese stocks end at 2-year low, Apple suppliers sink on trade-war concerns – June 19, 2018
Why Apple CEO Tim Cook is acting like tech’s top diplomat – June 18, 2018
Apple CEO Tim Cook doesn’t expect a full-blown trade war between the U.S. and China – June 5, 2018
President Trump and Apple CEO Cook meet at White House with trade the focus – April 25, 2018
Apple CEO Cook to meet with President Trump – April 25, 2018
Why Apple stock can withstand a Chinese trade war – April 5, 2018
Apple CEO Tim Cook heads to China as President Trump orders 25 percent tariffs on up to $60 billion in Chinese imports – March 23, 2018
BoA Merrill Lynch: Apple is prepping a ‘foldable’ iPhone; U.S. and China trade tensions not an issue for Apple – March 23, 2018
Designed in California. Assembled in China. How Apple’s iPhone skews U.S. trade deficit – March 21, 2018
President Trump blocks Broadcom-Qualcomm deal over China concerns – March 13, 2018
Elon Musk sides with President Trump on trade with China – March 8, 2018
Analyst: President Trump’s tariff impact on Apple would be just a ’rounding error’ – March 7, 2018