(Tuesday Market Open) The ongoing U.S.-China trade-deal saga seems like one of those daytime soap operas. Missed a few episodes? No worries; you can get right back into the story line. The back and forth headlines on the tariff situation between the world’s two largest economies and the seesaw effect on the stock market continued yesterday.
Wall Street seemed to be continuing to search for clarity on the tariff situation. The three major U.S. indices notched slight gains Monday after erasing losses, but the trading didn’t feel like it had a lot of conviction behind it.
Here’s a brief play-by-play.
It had looked like stocks might open in the green on optimism from a Chinese state media report that the two sides held a “constructive” phone call over the weekend.
But then equity index futures reversed course after a CNBC report, citing a Chinese government source, said Beijing is pessimistic about a trade deal amid President Trump’s reluctance to scale back tariffs. That left stocks to open lower.
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