Wall Street Breakfast Bessent comments on China tariffs
Apr 23, 2025
Discussion kicks off with insights on the lengthy path to a China trade deal, projected to take two to three years. The stock market is buzzing as tech stocks soar, with Nasdaq seeing impressive gains. Krispy Kreme is making waves with a strategic refresh aimed at revitalizing its brand. The conversation also touches on the recent dip in U.S. Treasury yields, providing a backdrop for the market's overall enthusiasm.
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China Trade Deal Timeline
- Full China trade deal could take two to three years to achieve according to Scott Bessent.
- Trade rebalancing involves addressing tariffs, non-tariff barriers, and government subsidies with no immediate time frame.
Trump's Tone Boosts Tech Rally
- Wall Street rallied strongly after President Trump softened tone on Fed Chair Powell and China tariffs.
- Tech stocks led gains with Nvidia, AMD, Broadcom, and Qualcomm showing notable jumps.
Gold Rally Risks Correction
- Gold prices surged past $3,500 per ounce, reflecting a parabolic rally since 2024.
- Such rapid rises increase odds of a market correction, as bull markets rarely move straight up.