Near term factors:
China Trade Deal
Long term factors:
Stocks opened strongly today after regaining stability from last months poor performance. The market most recently reacted to the news from President Trump announcing tariffs on Mexico. However, Fed Chairman Jerome Powell signaled the central bank was open to easing monetary policy to save the economy as trade tensions between China and Mexico heat up. With reassuring comments from Powell, the market felt comfortable in a ‘risk on’ attitude. The CME FedWatch tool indicates a 90% chance of a September rate cut. This is a stark shift in the pendulum in policy for the fed to be making. We will continue to see how this unfolds throughout the summer.
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