Financial Review

On Hold


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…China trade war/dispute on hold. EU works a deal with Iran. SCOTUS goes with arbitration for workers. GE/Wabtech. Vote to rollback Dodd Frank. Buyback boom. Fortune 500. Financial Review by Sinclair Noe for 05-21-2018 DOW + 298 = 25013 SPX + 20 = 2733 NAS + 39 = 7394 RUT + 10 = 1637 10 Y un 3.07% OIL + 1.31 = 72.59 GOLD + .30 = 1293.20   Treasury Secretary Steven Mnuchin on Sunday declared the trade battle with China “on hold” after the two countries agreed to drop their tariff threats in favor of hashing out a broader deal. Mnuchin went on to clarify that it was a trade dispute, not even a trade war. The US and China put out a joint statement on Saturday after their second round of trade talks. The talks were intended to get China to cease unfair trade practices it uses against the US and to reduce the US-Chinese trade deficit — and to sort out those differences without sliding into a trade war. The joint statement said, among other things, that China would increase its purchase of US energy and agricultural goods and that China would change its intellectual property practices. Both the agreement itself and what it means for forestalling the possibility of a trade war are still a bit vague. There’s a notable absence of specifics on how many more US goods China will now purchase. Although the Trump administration said it expects China to reduce the US-Chinese trade ...
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Financial ReviewBy Sinclair Noe