The G20 summit concluded with an easing of trade tensions between the U.S. and China. The two countries agreed to not increase tariffs for the next 90 days and that China would buy agricultural goods as a longer-term trade deal is negotiated.
Considering the market’s recent struggles due to trade concerns, a relief rally that started last week on Federal Reserve Chairman Powell’s dovish comments will likely maintain some momentum. Powell testifies this week to a joint session of Congress and will likely reiterate that the path for interest rates, after a probable December increase, is uncertain and will be data dependent.
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