Dan Celia: Ongoing Trade and Tariff Talks Continue to Affect Markets and Oil Prices
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November 12, 2019
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that both markets and oil prices are being impacted by continuing trade and tariff talks with China.
“The U.S. markets started off the week fairly positive,” Celia said. “The Dow finished at an all-time record high once again, with the NASDAQ and the S&P in negative territory slightly. This is after most of the day on Monday we saw markets in negative territory. The Dow was down over a hundred points the majority of the day, and it looks like U.S.-China trade and some other issues will be the topic of the week for most of the markets.
“European stocks traded mixed but were mostly down primarily to a loss of optimism in the U.S.-China trade talks after President Trump denied that he had agreed to roll back tariffs on Chinese goods,” he added. “Asia-Pacific markets are mostly being led down by Hong Kong and really tumbled in the midst of tensions in the city. The concern for me is that President Trump will have to address Hong Kong soon. He has been relatively silent on the issue. I know he is determined, as he said some weeks ago, to keep the two situations—U.S.-China trade and what is going on in Hong Kong—separate issues. He’ll be able to do that if we see no escalation in violence. The president does not want to derail trade talks, so he will have to tread very lightly.
“Oil prices dipped on Monday again after President Trump appeared to downplay reports of an imminent lift of tariffs,” Celia concluded. “Oil prices rebounded slightly, and then big falls came, primarily in Brent crude oil, which lost more than 9% in the past week and was down again at the start of this week. Of course, anything that looks optimistic in trade will help oil prices dramatically, as the sentiment will be that demand will pick up.”
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.
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