Dan Celia: What Will the G-20 Summit and the Trump-Xi Meeting Mean for Global Markets?
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia says that as the G-20 Summit approaches, a U.S.-China deal should be a top priority for President Trump and President Xi.
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.
“The markets are relatively muted and shouldn’t change, as everyone waits on the G-20 Summit,” Celia said. “Every day, it seems to become a little more important. The Asia markets gained a bit on what some are saying are optimistic signs ahead of Saturday’s meeting between President Trump and President Xi. European stocks are mostly positive, but the European markets will get some Spanish inflation, Italian business and consumer confidence numbers, and a German inflation report is expected as well. That could put a damper on the positive numbers.
“We are watching oil falling here in the states from its previous session of very strong gains,” he continued. “All eyes are on the OPEC meeting to see if oil producers will decide to extend their output cuts. All in all, though, oil stocks are the very thing that has helped keep U.S. markets in positive territory.
“In April,” Celia added, “the International Monetary Fund lowered 2019 growth forecasts to 3.3%, down from earlier forecasts this year of 3.5%. Their reason—ongoing trade tensions. We can expect to see more downgrades coming, perhaps as early as mid-July. There’s no doubt that even the United States is feeling the global slowdown in our economy—even more than expected.”
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