Dan Celia: Markets Take Wait-and-See Attitude, as Phase 1 of U.S.-China Trade Deal Is Delayed Again

Dan Celia: Markets Take Wait-and-See Attitude, as Phase 1 of U.S.-China Trade Deal Is Delayed Again

November 7, 2019

PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that as the week winds down, it appears that the markets will rely primarily on U.S.-China trade—yet again.

“It would appear as though everyone has taken a bit of a wait-and-see attitude,” Celia said. “Of course, it doesn’t help that there’s a possibility of a delay before President Trump and President Xi would have an opportunity to meet and sign a trade deal. Wall Street has been hanging on every speculative word about where and when that signing might take place, so it’s no surprise when stocks sold off Wednesday morning on a Reuters headline that quoted the Trump administration saying that Phase 1 of the trade deal could be delayed until December. Unfortunately, even more so than I thought, the markets are running a bit more, and this would go for the European markets as well. This morning, officials in China did say that both the U.S and China will cut tariffs by the same amount. That was looked at as very good news by global market and the U.S.

“The other uncertainty,” Celia added, “is the fact that it looks like impeachment proceedings continue to move along, and that uncertainty isn’t helping things, as more and more Wall Streeters, bankers and corporate leaders talk about the perils of a progressive left president. Each day it seems as though that is becoming another piece of uncertainty making matters worse. It will be an interesting weekend, because likely we will see some changes or some things begin to take shape over the weekend. So next week will be another interesting one, but let’s hope it’s just filled with uncertainty about trade and no real mention that trade deals are falling apart. Of course, the Eurozone is also depending on a U.S.-China trade deal every bit as much as we are.”

Celia discusses these and other global and economic headlines on his daily, three-hour Financial Issues program, heard on more than 650 radio stations and several television networks nationwide.

Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.

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