- There was an almost universally positive reaction across global stock markets yesterday and today to the White House’s announcement that tariff levels in the U.S.-China trade war would be reduced for 90 days. Indexes in China and Japan closed up and Europe rose in early trading as well. A research note from HSBC warned, "things could easily turn out a bit bumpier in future trade negotiations."
The S&P 500 index closed up 3.26% yesterday and it nearly erased its losses for the year. It is still down 0.64% year to date, however. This morning, S&P futures contracts ticked lower, indicating that investors broadly expect others to sell when the market opens in America.
