Stocks surge after President Trump says he will be meeting with Chinese President Xi at the upcoming G-20 summit, boosting hope for a US-China trade deal.
Stocks surged on Tuesday after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit, boosting hope for a U.S.-China trade deal.
Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.Trump said in a tweet he “had a very good telephone conversation” with Xi. He added: “We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.
“Short of easing tomorrow , Powell needs to send a strong enough message to the market” that rate cuts are coming, Gregory Faranello, head of U.S. rates at Amerivet Securities, said in a note. “I do feel, though, the Fed needs to take back some control here. We have gone from the market chasing the Fed to the Fed chasing the market in a very short period of time.”
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