Major indexes ended in the red on Friday on news that a Chinese agriculture delegation cut short their visit to the United States. This marred hopes of any positive outcomes to the ongoing U.S.-China trade tensions in the near-term. The Chinese officials’ decision came after President Trump said that he doesn’t require a deal with China before the 2020 elections.
The Dow Jones Industrial Average declined 0.6% to close at 26,935.07 on Sep 20. The broader S&P 500 and Nasdaq Composite followed suit, shedding 0.5% and 0.8% respectively. The former closed at 2,992.07 and the latter finished the day at 8,117.67. The fear-gauge CBOE Volatility Index (VIX) rose 9.3% to close at 15.35 on Friday. Finally, advancers outnumbered decliners on the NYSE by a 1.14-to-1 ratio.
Chinese Officials Cut Short US Farm Visit
On Sep 20, a Chinese trade delegation called off a planned visit to farms in Nebraska and headed back to China. The cancellation was reported just after an hour Trump said he wasn’t interested in a partial deal with China.
The Chinese officials were planning to meet American farmers in Bozeman, Montana, and Omaha, Nebraska. The cancellations now pose a big question whether China would resume the purchase of U.S. agricultural products, which it had stopped in April in retaliation to Trump’s trade tariffs. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Trump Rejects Partial Deal with China
On Sep 20, Trump informed a news conference at the White House that he was seeking a “complete” trade deal with the Asian country and it didn’t have to be finalized before the 2020 presidential elections.
Trump rejected the idea of a partial trade deal, saying he didn’t need a deal to boost his re-election campaign. Trump’s comments came in the backdrop of U.S.-China trade meetings in Washington. Officials hope for higher-level talks in early October that could ease the trade dispute.
Weekly Roundup
Major indexes ended in the negative territory for the week ended Sep 20. The Dow, the S&P 500 and the Nasdaq Composite lost 0.8%, 0.2% and 0.2%, respectively.
A quarter percentage point Fed rate cut on Sep 18 failed to make much impact on the markets as it was at par with investor expectations. In addition, tensions in the Middle East rose a notch higher following attack on Saudi oil facility that led to a disruption in the global supply of crude. In fact, U.S. Secretary of State Mike Pompeo said that the attack was a “state-on-state act of war” by Iran.
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Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Stock Market News for Sep 23, 2019
Major indexes ended in the red on Friday on news that a Chinese agriculture delegation cut short their visit to the United States. This marred hopes of any positive outcomes to the ongoing U.S.-China trade tensions in the near-term. The Chinese officials’ decision came after President Trump said that he doesn’t require a deal with China before the 2020 elections.
The Dow Jones Industrial Average declined 0.6% to close at 26,935.07 on Sep 20. The broader S&P 500 and Nasdaq Composite followed suit, shedding 0.5% and 0.8% respectively. The former closed at 2,992.07 and the latter finished the day at 8,117.67. The fear-gauge CBOE Volatility Index (VIX) rose 9.3% to close at 15.35 on Friday. Finally, advancers outnumbered decliners on the NYSE by a 1.14-to-1 ratio.
Chinese Officials Cut Short US Farm Visit
On Sep 20, a Chinese trade delegation called off a planned visit to farms in Nebraska and headed back to China. The cancellation was reported just after an hour Trump said he wasn’t interested in a partial deal with China.
The Chinese officials were planning to meet American farmers in Bozeman, Montana, and Omaha, Nebraska. The cancellations now pose a big question whether China would resume the purchase of U.S. agricultural products, which it had stopped in April in retaliation to Trump’s trade tariffs. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Trump Rejects Partial Deal with China
On Sep 20, Trump informed a news conference at the White House that he was seeking a “complete” trade deal with the Asian country and it didn’t have to be finalized before the 2020 presidential elections.
Trump rejected the idea of a partial trade deal, saying he didn’t need a deal to boost his re-election campaign. Trump’s comments came in the backdrop of U.S.-China trade meetings in Washington. Officials hope for higher-level talks in early October that could ease the trade dispute.
Weekly Roundup
Major indexes ended in the negative territory for the week ended Sep 20. The Dow, the S&P 500 and the Nasdaq Composite lost 0.8%, 0.2% and 0.2%, respectively.
A quarter percentage point Fed rate cut on Sep 18 failed to make much impact on the markets as it was at par with investor expectations. In addition, tensions in the Middle East rose a notch higher following attack on Saudi oil facility that led to a disruption in the global supply of crude. In fact, U.S. Secretary of State Mike Pompeo said that the attack was a “state-on-state act of war” by Iran.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>