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Plus New Zacks Strong Buys for Friday, December 13
Profit from the Pros By Kevin Matras Executive Vice President
Stocks Soar To New All-Time Highs On US-China Trade Deal
Stocks surged to new highs yesterday after it was reported that a phase one trade deal was imminent.
After the close, it was confirmed that a phase one trade deal has been reached. While some details are still being worked out, a deal, in principle has been agreed to.
President Trump's tweet, early yesterday morning, hinted that a deal was coming when he wrote: 'Getting VERY close to a BIG DEAL with China. They want it, and so do we!'
Traders immediately bid up stocks on the news.
The agreement means the tariffs that were slated for December 15th will not take effect. In addition, the U.S. has agreed to cut the existing tariffs in half.
More details to follow.
But what a week!
First, a deal on the USMCA. Now, the long-awaited U.S.-China trade deal.
Great way to end the year. And a great way to start 2020.
I don't want to get too far ahead of myself, but the next deal on the horizon will likely be between the U.S. and the U.K.
President Trump and Prime Minister Boris Johnson (whose Conservative Party appears to have won yesterday's Parliamentary election), said they would put together a great trade deal once the U.K. left the European Union.
The U.K. still has plenty of work to do before their three-and-a-half-year long 'Brexit' is complete. But once it is, I'm sure we'll be talking about a U.S-U.K. trade deal shortly thereafter.
In the meantime, there's plenty of actual trade deals to celebrate right now.
I've said it before and I'll say it again; these are historic times for the economy and the market.
So make sure you're taking full advantage of it.
Because it looks like there's a lot more upside to go.
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
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Stocks surged to new highs yesterday after it was reported that a phase one trade deal was imminent. 
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