All Eyes On Trump-Xi Meeting At This Week's G20 Summit

The markets closed mostly lower yesterday, but are coming off of an impressive 3-week winning streak. And the Dow is poised for its best June performance in 80 years.

Traders are gearing up for this week's meeting between President Trump and President Xi at this week's G20 summit.

With both U.S. and Chinese trade delegations holding talks and preparing for the upcoming presidential meeting, many are expecting a real breakthrough to take place, and maybe even an agreement.

Stocks also, once again, shrugged off tensions with Iran. Last week, the markets breathed a sigh of relief after the WH called off a retaliatory military strike against Iran. But the administration did go ahead with a cyber strike. And just yesterday, President Trump signed an executive order imposing more sanctions on Iran.

It's clear the President would prefer to negotiate a resolution to the current predicament rather than engage in hostilities. But it's unclear what Iran actually prefers. Nonetheless, traders seem to be giving the benefit of the doubt to a non-military resolution. But they continue to watch for any new developments.

In other news, we have a busy week of economic reports on deck.

Today we'll get a look at retail sales with the Redbook report, housing numbers via the New Home Sales report, manufacturing thru the Richmond Fed Manufacturing Index, and a look at the consumer via the Consumer Confidence report.

Later in the week we'll get a look at durable goods, inventories, what professional investors are doing with their money, and more.

In the meantime, the economy is doing great. And stocks are responding accordingly.

And traders are eagerly awaiting any news on the Trump-Xi meeting later this week.

Best,

Kevin Matras

Executive Vice President, Zacks Investment Research

Sponsor

The best tech stocks you've never heard of

Most investors know that after a stock gets plastered all over the headlines, the opportunity is over.
That's why my just-released reports explores the unsung heroes of an emerging tech megatrend.

Click Here Now >>

3 Tech Stocks for Growth Investors to Buy

Despite some volatility, strong earnings and impressive sales remain the story for many companies in the sector. Read More »

Will Spurt in Addressable TV Ads Mar FB, GOOGL's Duopoly?

With advancement in technology, the big television players are looking to offer ad space that will help advertisers reach target viewership. Read More »

Google Pay, PayPal Integration Revs Up Payments System Market

The extended partnership is expected to strengthen the presence of both the companies in the digital payment market. Read More »

5 Cybersecurity Stocks to Buy on Simmering US-Iran Tensions

The choice of cyberwarfare as a low level response opens up a whole new world of possibilities. Read More »

Why These Innovative Biotech ETFs Soaring

Strong M&A activity has sent shares of many small, innovative biotech companies surging. Read More »

Sponsor

Why Haven't You Looked at Zacks' Top Stocks?

Our 5 best-performing strategies have blown away the S&P's +15.8% gain from 2017 through 2018. Amazingly, they soared +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.

Today you can access their live picks without cost or obligation.

See Stocks Free >>

Bull of the Day: Columbia Sportswear (COLM)

Another record quarter for this top retailer. Read More »

New Zacks Strong Buys for June 25th

Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »