Wall Street set for strong open on President Trump’s upbeat U.S.-China trade comments

“U.S. stock futures jumped 0.9 percent on Wednesday, joining a global equities rally, as President Donald Trump’s encouraging comments fueled optimism over trade negotiations between the United States and China,” Medha Singh reports for Reuters. “Trump, in an interview with Reuters, said trade talks with Beijing were taking place by phone and he would not hike tariffs on Chinese imports until he was sure about a deal.”

“He also said he would intervene in the Justice Department’s case against a top executive at China’s Huawei Technologies if it would help secure a trade deal,” Singh reports. “The comments set S&P 500 equity futures on course for their biggest one-day percentage jump since Dec. 3.”

“Trade-sensitive Caterpillar Inc and Boeing Co rose over 1.5 percent, while chipmakers advanced more than 1 percent in premarket trading,” Singh reports. “Technology stocks also rose, with Dow components Apple Inc , Cisco Systems Inc, Microsoft Corp gaining between 0.8 percent and 1.5 percent.”

Read more in the full article here.

MacDailyNews Take: A U.S.-China trade deal would certainly be good news for the U.S.economy as a whole, along with full employment, rising wages, and consumer confidence, it’d certainly be excellent news for Apple, maker of coveted goods and services.

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

At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment. — Thomas Sowell, June 14, 2006

SEE ALSO:
Morgan Stanley: Apple investors shouldn’t worry too much about China – October 18, 2018

13 Comments

      1. If Trump wasn’t pulling numbers out of his arse, then it might be winning. Alas, stating verifiable facts is not his mode of operation. Besides, petulant whiner Trump has declared that shutting down the federal government is a good idea. Sorry border guards, you’re FIRED right before xmas. Sorry about those of you who expected the USPS to deliver your parcels for the holiday. Trump doesn’t bother to think before blabbing.

        Word to the wise: Cohen has been locked up for crimes against the state. Trump may very well be next, since he personally directed Cohen’s actions. Witches found and prosecuted!!!!

        1. You have absolutely no clue what is meant by “non-essential” mainly because you were tutored during Obama’s extreme use of power during a shut down.

          You are exactly the low information type the Democrats rely on.

          No wonder our nation is in such turmoil and decline.

    1. MDN, Tower Tone, Goeb and the other people who hold Trump up as a virtuous and positive leader don’t have any more special knowledge than anyone else. But Mr. Trump has shown throughout his life that he has the ability to shed the negativity and accusations hurled at him by many people. He has emerged victorious. That’s not in doubt. However.. this time.. this time… He’s implicated in a very serious crime. In fact more than one. Plus he is facing a hostile congress. So.. this will not bode well for 1. Apple investors 2. Trump supporters 3. Republicans 4. This nation. Even FOX is turning away from Trump as the bite of the next recession (depression?) starts to take hold propelled in part by the end of the benefits from the tax cuts and Trump’s tariff failures. He was right to attempt to fix the inequities between the US and China.. He was right to attempt to keep relations open and the dialog friendly with Russia and North Korea but sadly he took it just a bit too far, with his need to grandstand on full display. Mr. Trump is at times actually quite capable but is very clearly out of his depth in the Presidency since he can’t run it like a business. He will go down in history as a failed one term President because his own ego kept him from following a more carefully considered, less emotional path.

      1. MDN’s incessant cheerleading for a completely corrupt administration has long been annoying. Now out of desperation MDN thinks that Trickle Down economics is magically going to kick in if they just keep retweeting fact free lies from The Donald. It’s a losing cause.

        The USA has coasted to the end of its decade long expansion. Slow steady growth wasn’t good enough for the greediest xenophobic idiots, so they supported a self proclaimed businessman to fix everything. Instead the multi-bankrupt Trump broke everything. No part of the federal government is cheaper or more effective today than it was at any point in the last decade. By halting and refusing to reform legal immigration (that is, population growth of young working age go-getters) and alienating all international trade partners, Trump joined the UK in committing economic suicide.

        Facts matter. MSN should try reporting them instead of being just another Trump / Russian troll mouthpiece. One can only wonder what MDN will say when Trump’s financial ties to Russia are finally revealed.

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