Biggest Single Day Move Since April?
Monday’s Market Outlook Appears Bright
Among the several “things to know” today, early reports this morning that China and the U.S. agreed to pause imposing import tariffs has seen negotiators setting up a blueprint to determine proper routes to evenly weigh current trade imbalances.
U.S. Treasury Secretary Steven Mnuchin said on Sunday that, “We are putting the trade war on hold. Right now, we have agreed to put the tariffs on hold while we try to execute the framework.”
While the agreement means that both sides will potentially avoid billions of dollars in tariffs, China still hasn’t agreed to cut the trade deficit even though President Donald Trump made it known that that the world’s second largest economy should reduce its trade surplus by $200 billion. Because of this we’re seeing U.S. futures pointing to a higher open on today…