Stocks are climbing despite Trump’s latest China barbs as rate cut hopes buoy markets — the trade war is ‘back in focus’
|07/12/2019||Posted by BusinessMediaguide.Com under General World News||
- Stocks climbed on Friday as the growing prospect of a cut to US interest rates this month outweighed renewed tensions in the US-China trade war, an unexpected contraction in Singapore, and uninspiring Chinese trade data.
- Federal Reserve Chair Jerome Powell told Congress that the central bank is largely in agreement that “more accommodative monetary policy may be appropriate.”
- However, Trump accused China of “letting us down” by not purchasing US agricultural products as promised.
- “Unhappy Trump brought the trade war back in focus, reminding investors that the year-old trade battle between the US and China is far from being over,” one analyst read more >>>