Tariff deadline keeps focus on trade as 2019 draws to close

This translation has been automatically generated and has not been verified for accuracy.The stock market looks set to end 2019 the way it began the year -- highly sensitive to headlines from President Donald Trump’s global trade war.

“Until we get some finality on this, the day-to-day is going to move on headlines that suggest progress or lack thereof,” said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. “The problem is the uncertainty that the trade war process has on business decisions,” said Art Hogan, chief market strategist at National Securities in New York. “Without some sort of short-term truce, company spending gets frozen and that’s where it affects the economy and the market.”

Political tensions over U.S. support for protesters in Hong Kong and over Beijing’s treatment of its Uighur Muslim minority have also raised concerns about the prospects for an initial trade deal. “The Fed chairman pretty much outlined that the bar is very high to raise rates,” SunTrust’s Lerner said.

Source: News Formal (newsformal.com)

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