In any case, the S&P 500 now looks poised to recover the 61.8 Fib retracement of the fall since February as the rebound continues.
Besides trade developments, we also had Amazon and Apple earnings come in. And while both delivered better than estimates, the latter does have a caveat. Greater China sales roughly met estimates with a $16.0 billion figure but that is down a little over 2% compared to a year ago. That is evident of a shift in spending mindset and perhaps the toll taken from the US-China trade rhetoric spilling over into consumer behaviour. If anything, we'll likely see this figure shrink the longer the trade war rages on.
It will still take a few months of hard data hitting hard before really leading to freight and trucking services to cut labour costs. But when it starts to hit, the cascading effect can be quick to catch on. So, just be wary of that.
And that means trade headlines or should I say Trump headlines, will continue to take on more importance.
This article was written by Justin Low at www.forexlive.com.Hence then, the article about the positive animal spirits stick towards the final stretch of the week was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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