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Traders To Digest Positive Comments From China On Trade, But Arrest Of Huawei CFO
After Tuesday's sell-off, it was nice to have a break yesterday.
As you know, the markets were closed on Wednesday in honor and remembrance of George H.W. Bush.
If you watched the ceremony (which friends and family were quick to call a celebration of a great man and his life), you couldn't help but be moved. It was a beautiful tribute and farewell for a man whose decency transcended politics.
The markets are hoping for a better day when trading resumes than how things left off on Tuesday.
A lack of details on the U.S.-China trade truce cut the relief rally short.
So it's notable that China's Commerce Secretary yesterday commented that they would begin 'implementing specific issues on which consensus has been reached'. Still a bit short on details. But an optimistic statement nonetheless. And it beats the silence coming out of China following the meeting.
But late in the day yesterday, it was reported that China's Huawei CFO, Wanzhou Meng, was arrested in Canada at the request of the U.S. for violating Iran sanctions. That could test the relations and goodwill between President Trump and President Xi. And test the market.
But support for the market is close by (2,647.55) at less than -2% away.
And with a strong economy, record employment, and surging corporate profits, this pullback is definitely an opportunity to buy!
If you wished you had played the previous pullback earlier in the year differently, now is your chance. Because the bargain prices we're seeing in stocks right now will not last forever.
While statistics point to a 17% gain next year (average move following a midterm year), if you can get into the right stocks, you could see returns of 50%, 75%, or even 100% or more. To learn how, be sure to read our latest commentary...
As stocks tumble on rekindled trade worries, we select four industrial stocks that you can bet on backed by their robust growth prospects and solid data. Read More »
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After Tuesday's sell-off, it was nice to have a break yesterday.
