Excerpt from US News quoting DataTrek’s Nick Colas:
…. “Wall Street’s attention has been trained on interest rate policy along with the U.S.-China talks. But the focus may have shifted more to trade, following comments on Wednesday by Federal Reserve Chair Jerome Powell that lifted stocks and that many investors read as signaling that the Fed’s rate-hiking cycle may be nearing an end.
In the wake of Powell’s speech, Nicholas Colas, co-founder of DataTrek Research, said “what happens in Buenos Aires will determine if stocks post a positive 2018.”
The specter of a global trade war has hovered over the market since Trump announced tariffs on imported steel and aluminum in March. Trump also recently said the U.S. was studying auto tariffs, which could ripple through Europe and Japan, while a pact with Canada and Mexico left some investors heartened about potential progress with China”….
Read the full article here on US News!