Dan Celia: Hong Kong Legislation, News from Japan and Germany, and Jobs Report All Impact Markets
December 3, 2019
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that while many items are affecting the markets, the recent Hong Kong legislation, global news from Japan and Germany and the impending U.S. jobs report could have significant impact.
“A number of things continue to drive the markets for the rest of the week, but one significant item that hasn’t been discussed much from a financial perspective is the recent legislation signed by President Trump last week that sends a message of support to the Hong Kong protesters, which drew a lot of negative reaction from Beijing,” Celia said. “I believe that negative reaction has been somewhat downplayed, as Beijing wants a trade deal—and the last thing they want is added tariffs entering their economy. But Beijing’s negative reaction to the U.S supporting Hong Kong protesters has added another level of uncertainty to the trade talks. Now, President Trump has promised that a preliminary trade deal with China is close, but there is still no agreement, and the December 15 deadline for new tariffs on China is getting closer and closer. That will likely continue to drive the markets the rest of the week if the uncertainly lingers into Friday.
“Friday will be an important day, not only because of the impending U.S. jobs report, but also because Japan’s leading indicators index and German industrial production will be released as well,” Celia added. “We should be somewhat concerned in reference to Japan and Germany. Remember that Germany, the largest economy in the Eurozone, and its industrial production number are taking on a whole new significance. Concerns about a recession and another year in 2020 of very little growth in both Germany and the Eurozone will impact the U.S., and we will not be isolated from the impact of Japan and Germany’s slower production either. If nothing else, this will drive business sentiment a bit more negative, and that will likely be a problem for the U.S. economy moving forward in 2020.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on 660 radio stations and several television networks nationwide.
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