Dan Celia: China Trade Talks Still Impacting Markets, as Economic Data Expected This Week
PHILADELPHIA—Weeks after Presidents Donald Trump and Xi Jinping met in Japan, an impending China trade deal is still impacting the markets, says nationally syndicated host and biblical investing authority Dan Celia.
“We’re still in a situation where U.S.-China trade talks are front and center,” Celia said. “The Chinese government and Chinese companies will cut business ties with U.S. firms selling arms to Taiwan. China’s Foreign Minister spoke this morning about possible sanctions in a move that will likely worsen trade negotiations going forward. All of this is happening as the European markets and the U.S. markets are nudging a bit higher, and investors seem to be putting aside the bad news that China’s GDP growth has fallen to a 27-year low. That is a significant move downward and will likely continue to be something the markets will watch very closely.”
Celia added that several economic numbers are expected this week as well.
“Housing and manufacturing will be on the agenda for this week’s economic data, not to mention we are starting off earnings season for the second quarter,” he said. “The Empire State Manufacturing Index will be out, and we’ll also see retail sales, Ex Autos, industrial production—a very important number from June—business inventories, the NAHB Housing Market Index, housing starts and building permits, as well as the Philly Fed’s manufacturing or business sentiment numbers for the month of July. And on Friday we’ll see consumer sentiment numbers—something that we will watch very closely. It will be an interesting week as we look at China and trade negotiations—if there even are any.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about more than 650 radio stations and several television networks nationwide.
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