It’s beginning to feel a bit old hat, but, once again, the trade war was at the front and center this week. Investors spent much of the week digesting numbers from the Chinese economy and news tidbits about the state of a U.S./Chinese deal. As we’ve seen in previous weeks, these news points have generally guided the day’s trading and set forth some decent volatility as they have been breaking.
That was good thing as the news here at home was generally poor all week. As the first week of the new month, there was plenty of economic data here at home and none of it was rosy. Investors tried to see the positive in the potential for an end to the trade war and the boost to economic growth that it brings.
As for earnings, the week represented a calm before next quarter’s earnings begin. Hardly any bellwethers reported this week. This continued to provide uneasiness about the direction of the global economy.
In the end, traders looked towards the positives with China as there was not much else to grasp onto. As a result, stocks spent much of the week slowly drifting between gains and losses.
Be sure to check out our previous Wrap here, when stocks gravitated between losses and gains again.