US President Donald Trump said he might stop trade in cooking oil with China, injecting fresh tensions into the relationship between the world's two largest economies. Trump on Tuesday cast the potential move as retaliation against Beijing for its refusal to buy American soybeans, which he said "is an Economically Hostile Act" that is purposefully "causing difficulty for our Soybean Farmers." The benchmark S&P 500 turned negative as Trump's comments re-escalated the conflict with China. Just hours earlier, both Trump and US Trade Representative Jamieson Greer expressed confidence that friction would ease through ongoing trade talks. We get perspective from Sandra Swirski, Founder & CEO of Integer.
Plus - Earnings season has just kicked off. A gauge of big banks jumped after solid results from financial giants. Also today, Federal Reserve Chair Jerome Powell signaled the US central bank is on track to deliver another quarter-point interest-rate cut later this month, even as a government shutdown significantly reduces its read on the economy. For more, we turn to Rob Williams, Managing Partner and Chief Investment Strategist at Sage Advisory Services.
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