Daily Market Update
with JJ Kinahan

6 min read

Trade Uncertainty Weighs on Wall Street as Earnings Season Heats Up

(Thursday Market Open) If there’s one thing the market doesn’t like, it’s uncertainty. But that’s what it seems to be getting on two major fronts: the trade dispute between the U.S. and China and corporate earnings.

The worries about the U.S.-China trade situation continued after President Trump said “there’s a long way to go” on China trade talks as The Wall Street Journal reported that progress toward a deal between the world’s two largest economies has stalled over restrictions on Huawei Technologies. 

But Treasury Secretary Steven Mnuchin told CNBC that Huawei wasn’t a sticking point. He said a call between U.S. and Chinese officials was set for today and could lead to in-person meetings. Still, Mnuchin said “there are just a lot of complicated issues,” so it doesn’t seem like a deal is imminent, meaning that the biggest headwind facing Wall Street seems set to continue for an undetermined amount of time. 

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