The Dow Jones industrial average started yesterday by jumping almost 300 points at the open. The moves came amid hopes of a trade war breakthrough, brought about by Trump’s Tweet that said talks with China were going very well. It was a busy day for the President on Twitter, as he said that the US economy is looking strong, but then went on to criticise the Federal Reserve once more.
Trump also delivered a speech to the American public in which he said many things that were designed to pressure politicians into approving funding for his proposed border wall. In an extraordinary address, he claimed there is a crisis at the US border and that a wall is needed to solve it. There were no signs of progress towards ending the government shutdown which is currently the second longest in history.
The only release of note from the US today is the latest minutes from the FOMC meeting. The markets will pore over the minutes for any hints of future policy, although it has already been noted that the Federal Reserve is on ‘data watch’ and will likely keep tabs on developments before making any decisions on whether to hike rates this year.
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