We begin the day with more positive scuttlebutt on the China trade, which I think might be real this time, as I’m seeing media stories saying Phases Two will never happen. LOL. I think a Phase One deal will be signed this year. I suspect the administration will suspend the proposed December 15 tariffs in a measure of good faith, as China continues to step up with increased olive branches, including greater intellectual property laws and punishments.
Enforcement is obviously an issue, but the pendulum continues to move closer to the goals of the trade fight.
S&P 500 Index
Communication Services (XLC)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Health Care (XLV)
Real Estate (XLRE)
Lots of back and forth this morning on the China trade front with President Trump and President Xi chiming in. A deal seems close, but both want to win the public relations war in their respective countries. The fact is the media will not give Trump credit no matter the terms.
The major indices are all in the green to start this holiday shortened trading week.