President Trump, “Trade Deal Possible With China’s Xi, Tariffs Could Be Lowered”

$DIA, $SPY, $QQQ, $RUTX, $VXX

FLASH: Investors and Traders in a Wait & See mode for the G-20 Summit this weekend

Wednesday, President Trump said that a trade deal with Chinese President Xi is possible this weekend, but he is prepared to impose US tariffs on virtually all remaining Chinese imports if the 2 countries continue to disagree.

President Trump departed for the G-20 Summit in Osaka Japan on Wednesday.

He raised the possibility that he may impose a lower, 10% duty on a $300-B list of Chinese imports, instead of the proposed 25% rate.

President Trump is expected to meet with President Xi Saturday in Osaka to discuss and perhaps resolve the trade dispute or move closer to a joint resolution.

“It’s absolutely possible … We have to get a good deal,” Trump said in an interview with Fox Business Network. “It’s possible that we’ll make a deal but I’m also very happy where we are now.”

Trump said Chinese leaders “want to make a deal. They want to make a deal more than I do.”

Wednesday, the major US stock market indexes finished at: DJIA-11.40 at 26536.82, NAS Comp +25.25 at 7909.96, S&P 500 -3.60 at 2913.78

Volume: Trade on the NYSE came in at 822-M/shares exchanged

  • NAS Comp +19.2% YTD
  • S&P 500 +16.2% YTD
  • Russell 2000 +12.6% YTD
  • DJIA +13.8% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Neutral with a Bullish bias in here.

Stay tuned…

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