Last week saw a new chapter in the China-U.S. trade dispute. After much-anticipated talks in Washington, D.C., a partial trade deal was agreed upon. This deal addresses a few of the issues that had been discussed previously, but doesn’t go far enough to provide certainty to business. The recent uncertainties stemming from changes in global trade practices have weighed heavily on the economy. Until businesses globally have more confidence in the trade environment, economic growth will continue to be mixed. However, this is a step in the right direction.
The Columbus Day shortened week ahead will see market participants focused on the ongoing impeachment process in Washington and third-quarter earnings releases. The highlight of this week’s earnings will be the big banks.
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