Dan Celia: This Week’s Economic Headlines Hang on Russia, China, Jerome Powell and More
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia is talking today about the week’s economic headlines, which center on events both here at home and abroad.
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 television and radio stations nationwide.
“Certainly one of the things that should be driving the markets this week will be trade and tariff concerns,” Celia said. “Currently, China has very little to play with and the U.S. holds all the cards. But much of that will get lost in the news around President Trump’s meeting with Vladimir Putin, where some top economic issues will be discussed.”
Among these, Celia said and Fox News reported, are sanction relief and denuclearizing the Korean peninsula. For the most part, according to Fox, Moscow has refused to go along with global measures to put an economic squeeze on the rogue nation. Russia is one of the nations from which North Korea imports the most goods, so its compliance would be beneficial.
Here in the U.S., Celia added that earnings reports, economic data and testimony from Federal Reserve Chair Jerome Powell will have some impact as well.
“The hope is that earnings reports will continue to be strong; there’s no reason why they shouldn’t be,” Celia said. “Things look very good for the second quarter of the year. There is some economic data coming out this week, including Retail Sales ex Autos—about the best in 38 years—the Empire State Manufacturing Survey, which was exponentially high last month, and industrial production, which is a very important number, and business inventory—up as well.”
“Likewise, Jerome Powell will give testimony Tuesday and Wednesday, then we’ll see the Beige Book report, which is the Fed’s outlook,” Celia added. “Many will be wordsmithing and hanging on Powell’s testimony, regarding the economy, interest rates, inflation, trade and more.”
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