Xi Speaks, Stock Bulls Listen: Risk is On Globally
- A new era in the Age of Prosperity is seen
Appetite for risk on is strong Tuesday morning, as Chinese President Xi Jinping offered plans to further open up the 2nd largest economy.
Xi’s public speech at the Boao Forum came days after the US and China exchanged tariffs threats, which had kept investors on edge for some weeks. He promised to lower import tariffs for autos, as well as on some other products, open up the financial and insurance sectors, and most importantly, to increase protection to intellectual property.
Xi’s speech calmed markets by responding to all of US President Donald Trump’s concerns, without even mentioning him by name
What was achieved Tuesday at the Forum is likely to reduce trade tensions and buy extra time. Whether the US will wave back with an olive branch to China remains to be seen, but for sure the probability of a full-blown trade war is now off of the tables as expected.
Asian equities were all in the Green this morning with the Hang Seng Index and Nikkei 225 climbing more than 1%.
Futures are also indicating a positive start to Europe and US, the S&P 500 (SPY) futures are up 1.3% at the time of writing.
| NAME | TIME (EDT) | FUTURE DATE | LAST | NET CHANGE | OPEN | HIGH | LOW | 2 DAY |
|---|---|---|---|---|---|---|---|---|
|
DM1:IND
Dow Jones mini
|
3:21 AM | Jun 2018 | 24,298.00 | |||||
|
ES1:IND
S&P 500 mini
|
3:21 AM | Jun 2018 | 2,651.25 | |||||
|
NQ1:IND
NASDAQ 100 mini
|
3:21 AM | Jun 2018 | 6,607.00 |
Stay tuned…
Xi Speaks, Stock Bulls Listen: Risk is On Globally added by HEFFX on
View all posts by HEFFX →
Latest posts by HEFFX (see all)
- Tesla Is Hiring Someone To Defend Elon Musk And Fend Off Attacks By Twitter Trolls - January 20, 2021
- PayPal Will Continue To Profit From A Huge Increase In Volume And Accounts - January 20, 2021
- Google’s Ethical AI Division Investigating Sharing of Sensitive Documents - January 20, 2021