Dan Celia: In Big Week for Trade, U.S.-China Deal Would Impact Many Global Markets
‘Don’t Tweet About It, Just Do It’
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia commented today that as the world heads into an important week economically, President Donald Trump initiated a major bump in the markets last week by just tweeting about a trade deal with China and upcoming important meetings.
It’s time to pull the trigger on a deal.
“Don’t just tweet about it, do it,” Celia says.
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 radio stations nationwide, as well as several television networks.
“It will be a very interesting week,” Celia said. “On the Dow, we are sitting at about 0.86% away from an all-time record. Of course, all eyes will be on trade again. This may seem like a broken record, but U.S.-China trade is probably a bit more concerning right now than it has been in a long time, as we continue to see the erosion of the Chinese economy. Obviously, this is impacting other major economies around the world—could it start to impact the U.S. economic data? That is also a concern and a possibility.
“At the G20 Summit this week, we will see meetings with President Xi and President Trump, and right now it looks like the entire deal being offered by the United States would actually help China probably more than it will help the U.S., yet China is very resistant over some of the technology issues,” he added.
Celia continued that Trump’s signing of an executive order today on new “hard-hitting” sanctions on Iran will also have impact.
“There can’t be many more, however, as there’s not much left that we can sanction,” Celia added. “We are already impacting their banking industry, and that alone will hurt their economy in dramatic fashion. So saber-rattling continues on both sides and with China.”
Lastly, Celia said, several economic numbers are expected this week, such as durable goods, housing figures, first quarter GDP, personal income and consumer spending, and the consumer confidence index is expected Tuesday.
“Consumer confidence is expected to go down slightly,” he said, “but it’s sitting at 134, so it will be difficult for any decrease to cause a real problem based on that incredibly high number.”
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