Tuesday, White House trade adviser Peter Navarro said the success with the 1st Phase of the US-China trade deal, the USMCA, and upcoming deals with Japan, SKorea, and Mexico will mean a “Boom year in 2020.”
“That is over 60% of total trade,” Mr. Navarro said of the 5 deals. “It is going to be a boom year in 2020 for the American economy. I’m looking at growth closer to 3% than 2%. I am looking at the Dow well over 30,000.”
He said he predicted several months ago that if USMCA was approved and interest rates went down, “we would get over 30,000.“
“It’s going to be a great year for America,” Mr. Navarro said.
The China deal’s P-1 marks a good start on forced technology transfer and on currency manipulation, which President Trump promised in Y 2016 to crack down on, he said
The National Defense Authorization Act and the appropriation bill passed last week also “really sets the stage” for a successful Y 2020, he added.
“It is like a combination lock that clicks.
Everything opens up … it’s set up for a beautiful 2020. Americans should celebrate tomorrow. Strong paychecks, low unemployment mean a Merry Christmas.”
Tuesday, the major US stock market indexes finished at: DJIA -36.08 at 28515.36, NAS Comp +7.24 at 8952.90, S&P 500 -0.63 at 3223.38
Volume: Trade on the NYSE came in at 314-M/shares exchanged
- NAS Comp +34.9% YTD
- S&P 500 +28.6% YTD
- Russell 2000 +24.4% YTD
- DJIA+22.2% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Very Bullish in here.
Investors did not receive any economic data Tuesday. The weekly Initial and Continuing Claims report will be released Thursday.
Making and Keeping America Great!
Have a Happy Holiday week
