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.