Dan Celia Points to Slight Rise in Global Stocks as Trade Talks Still Remain in the Headlines
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia pointed today to global stocks that are inching up on the hopes that a trade deal with China will still happen.
“Steven Mnuchin confirmed that U.S.-China trade talks will resume next month, but the lingering concerns of slowing global growth continue to reduce traders’ appetites for riskier assets, and that is likely to continue through the rest of the year,” Celia said. “There will not be a trade deal with China unless there’s a major compromise, and I can’t imagine a major compromise. China certainly needs the U.S. trade deal—No. 1, to help its economy, and No. 2, to take any focus off human rights violations and other issues that may be happening in Hong Kong. But China needs to try to gain some support wherever it can in the U.S.
“The United Nations-U.S.-Japan trade deal looks like it has hit a bit of a snag,” Celia continued. “The Trump administration will not impose national security tariffs on Japanese-built cars and auto parts. Well, not really. That’s what Japanese officials were hoping for, and they sought to get some sort of assurance that would be the case. But guess what? They didn’t get it. People familiar with the deal, however, say that there could still be a deal for Japanese and U.S. agricultural goods and bilateral cuts on industrial goods tariffs. Let’s hope that is the case.”
Celia added that the Federal Reserve has said its rate cuts this year have dramatically bolstered the economy.
“They have not taken off the table any further cuts,” Celia said. “I have to admit, it has helped, and we have not lost any strength in the dollar. So that is good news as well. But trade will continue to be front and center, I’m afraid, for the rest of the year.”
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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