1. It was a historic week as the U.S. House of Representatives voted to impeach just the third sitting president since the United States of America formed as a republic. 2. The seasonally adjusted number of Americans filing initial claims for state unemployment dropped by 18,000 claims from the previous week’s unrevised level to 234,000…
The U.S.-China trade negotiation continues to be the top factor for market volatility. The impeachment inquiry into President Trump’s dealings with Ukraine also resumed this week, and it appears that the House will proceed with drafting formal articles of impeachment.
Despite the shortened trading week due to the Thanksgiving holiday in the U.S., and seemingly positive progress in the trade talks between the U.S. and China earlier in the week, uncertainty surrounding the U.S.-China relationship continues to be the primary driver for market volatility.
The U.S.-China trade dispute continues to provoke uncertainty and volatility in all markets. The impeachment inquiry into President Donald Trump’s dealings with Ukraine also continues to foster division and gridlock within the U.S. government.
The ongoing trade dispute between the U.S. and China continues to spark volatility in all markets. The first public hearings in the impeachment inquiry into President Trump’s July 25 phone call with the President of Ukraine got underway this week but equity markets seemed to largely ignore the spectacle and the political uncertainty it could cause, choosing instead to simply shoot higher on nothing more than the tenuous hope that the U.S. and China were “close” to reaching a trade deal.
Headlines regarding the ongoing trade dispute between the U.S. and China were again the primary drivers for market moves this week. It is increasingly odd that the mainstream media seems to find news coming out of China more reliable than their sources based in the U.S.
A half-century ago, the US was the envy of the world – the Land of the Free, where virtually anyone could prosper, if he were willing to roll up his sleeves and work.
“Trump is doing the right thing. Without him, we have no protection against China. China doesn’t only wish to dominate Asia, but the world.” Here in Hanoi, so said my dinner companion – a major manufacturer and worldwide exporter of steel products.
It was a heavy news week as the Federal Reserve took further action on interest rates, the October Non-Farm Payrolls report was released, and the impeachment inquiry into U.S. President Donald Trump gained traction in the House of Representatives.
Hopes that were lifted after last week’s “phase one” deal was worked out between U.S. and Chinese officials as markets were closing on Friday did not remain elevated as the week began.