China Can Only Stall With A Deal-Lite, In Hopes Of Outliving Trump, But It Won't Work, Markets Move Higher Anyway

October 9, 2019

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China Can Only Stall With A Deal-Lite, In Hopes Of Outliving Trump, But It Won't Work, Markets Move Higher Anyway — *Aerial view of contour farming. Missouri 1930*

Markets moved higher today on Chinese comments regarding a possible 'mini trade deal'. This is more stalling tactics from Beijing, in hopes of getting some tariffs removed and waiting out the Trump administration for a more pliable Democratic president. In all likelihood China would offer some large agricultural purchases to sooth unhappy famers (and Trump voters). It is too soon to tell if Trump would take the bait, after going this far to protect American industry and jobs.

In other economic news, wholesale inventories rose at 0.2% vs consensus estimate of 0.4%.

Mortgage applications were up 5.4% on Oct 4.

The JOLTS job openings saw 7.051M vs consensus at 7.191M.

EIA crude oil stocks change for Oct 4s rose more than expected at 2.927M barrels vs 1.413M estimate.

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CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."