Our call of the day, from the head of global banking giant JPMorgan Chase, Jamie Dimon says a trade deal has an 80% chance of getting done, and pinpoints why...
Expecting a stiff upper lip from Wall Street as we worm our way toward high-profile U.S.-China trade talks is a formidable task.
“If you just raised the odds of a real global trade war a little bit, that was a rational reaction,” Dimon told Bloomberg in an interview Wednesday at the bank’s annual China summit in Beijing. “The market will fluctuate, economies will fluctuate. People will always get scared and overreact.” He also touched on U.S. Treasury bonds, which have been gauging how rattled investors have become lately.
The market Dow US:YMH9 S&P 500 US:ESH9 and Nasdaq US:NQH9 futures have slid into the red. Tuesday’s session saw losses of between 1.7% and 2% for the Nasdaq COMP, -1.96% Dow DJIA, -1.79% and S&P 500 SPX, -1.65%The dollar DXY, -0.02% is softer, but not against the New Zealand dollar NZDUSD, -0.0758% after that country’s central bank cut its key lending rate for the first time since 2016. Gold US:GCU8 is up, crude US:CLU8 is lower.
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