US Earnings Season Underway, but Wall Street More Concerned About the Trade War

Trade tensions continue to dominate the sentiment in global financial markets even after the US and China resumed their negotiations. With no updates from either side on the progress made so far and Trump’s recent comments hinting at plans to impose tariffs on additional Chinese imports worth over $300 billion, the trade war seems to be on everyone’s minds, again.

The earnings season has started in the US, but Wall Street stocks closed in the red over trade concerns. On Wednesday, the Wall Street Journal published a story about how US-China trade talks have stalled over the issue of the ban on Huawei, souring the sentiment in stock markets.

As a result, DOW closed 0.42% lower, while SPX fell by 0.65%. Even though 85% of the S&P 500 companies that have published their EPS reports so far have posted profits exceeding expectations, markets remain concerned about the trade war dragging on, which could heavily impact consumer and business sentiment.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers