PHILADELPHIA—The Dow and S&P 500 could see a new record today, after Dow futures jumped more nearly 250 points as a result of trade developments between President Donald Trump and President Xi Jinping over the weekend.
Nationally syndicated host and biblical investing authority Dan Celia said this morning that although completing a deal will continue to bolster the markets, will that deal actually be enforceable?
“Businesses and the markets certainly are praising President Trump’s truce on trade with China,” Celia said. “But many are asking if that agreement will be enforceable. Of course not! I don’t think any agreement we come up with will be enforceable with the communist regime. The National Association of Manufacturers said it seeks a new structure for U.S.-China commercial relations. In other words, they want to see China open up its markets to more U.S. companies. I do believe that, in fact, China will open up its markets to U.S. companies, but not for reasons that everyone thinks—not because of great negotiations on trade but rather to create ammunition for the next trade war.”
Celia also noted the compromise made with Huawei as part of the China truce.
“Make no mistake about it, I don’t think any compromise with Huawei is in order, and I think we should take a long, hard look at making no trade deal at all as opposed to compromising our national security,” he said. “If we maintain a tough stance, I promise you this, we will never have any further trade negotiations with China—not ever—and China, if they haven’t learned anything from all this, has learned that we need to tread very lightly. We are in a very unique situation. We have very little dependence on China. We should keep it that way.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about more than 650 radio stations and several television networks nationwide.
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