“And you can thank President Trump and Chinese President Xi Jinping for the inevitable rip-roaring rally into 2019,” Sozzi writes. “Well, that and investor foe turned short-termed bestie, Fed Chair Jerome Powell.”
“Trump and his Chinese counterpart agreed at this weekend’s G20 to delay higher tariffs on $200 billion worth of goods from China; the increase, from 10% to 25% was set to hit Jan. 1. The decision will be a 90-day ceasefire. China will purchase a ‘very substantial’ amount of agricultural, industrial and electronics products, according to the U.S. side,” Sozzi writes. “With the perception of the Fed being a touch more accommodative, investors are apt to wade back into beaten-up, above-normal risk assets. See battered tech stocks such as Apple, Netflix and Amazon.”
Read more in the full article here.
MacDailyNews Take: Okay, so who here got in at under $171? 🙂
Stock market set to jump at open on 90-day U.S.-China trade detente – December 3, 2018