Positive Trade Headlines Provide A Boost

How many times can equity futures around the world rise and fall on the same headlines? We’re learning that lesson in real time these days, as US futures are rallying today on reports that China will cut tariffs on imported US autos from 40% down to 15% and that officials from both countries continue to negotiate despite the arrest of Huawei’s CFO in Canada. Believe it or not, futures were lower for most of the overnight session before getting a real boost right around 4 AM.

 

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Gary Anderson 4 months ago Contributor's comment

Cutting tariffs and requiring partnerships to do business in China are vastly different concepts. China will cut tariffs, but 1. That doesn't mean Chinese will buy American and 2. It doesn't mean the Chinese won't give up legal means of gaining technological knowhow.