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Kevin Matras   
Profit from the Pros
By Kevin Matras
Executive Vice President
Zacks Investment Research
  

Phase 1 U.S.-China Trade Deal Signing Today, USMCA By Week's End

Stocks closed mixed yesterday after hitting new all-time intraday highs.

In spite of the mixed finish, all of the major indexes continue to trade near record highs.

Today we'll get the long-awaited signing of Phase 1 of the U.S.-China trade deal.

It's been two long years in the making. And while the term 'trade-war' was a bunch of overblown rhetoric, the tariffs and surrounding uncertainty did weigh on stocks a bit. Now with a reduction of some tariffs and an abrogation of others, a lot of the uncertainty has been removed. And a wave of new growth should follow.

We also heard from the Senate yesterday that they expect to pass the USMCA trade deal this week. While the U.S.-China trade deal is important (they are our third largest trading partner), the USMCA trade deal with Canada and Mexico (our two largest trading partners with the U.S. exporting 5 times as much to those countries than to China), is pretty important as well.

And these two historic trade deals should add to the already historic economy and historic bull market.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research

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