If the Phase 1 deal is signed today ( 5:30) pm, the stock markets might see some profit taking. Yesterday already, this profit-taking began on the US stock markets with the announcement that the existing punitive tariffs would remain in force until the US election. They could only be abolished (if at all) with a Phase 2 deal. This reduces the stock markets’ (priced-in) expectation of the “eternal peace” between the US and China. Tariffs and investment uncertainty remain, supply chains are being relocated. The important thing today is the publication of the text of the deal. Tonight Donald Trump attacked Apple in a tweet. Yesterday the stock (and thus the Nasdaq) probably not by chance weaker.
US producer prices (May) were significantly higher than expected at +0.5% compared with the previous month (forecast was +0.3%; the previous month was +0.1%). Producer prices rose by +3,1% year-on-year (forecast was +2.8%; previous month […]
China’s state news agency Xinhua has just made it clear once again how Beijing sees the situation. China doesn’t bluff. Being prepared to accept pain but China will hit back hard, says Xinhua: „As the […]