Scepticism remains over the scope of Phase One US-China trade deal
US STOCKS rose to new record highs last week after US and Chinese leaders finally signed the "Phase One" trade deal and earnings reports topped modest expectations.
But gains were limited by scepticism about the scope of the trade deal and the sustainability of what soon could be the biggest bull-market move in history. Any disappointment in earnings reports this week could cause the torrid rally to cool off.
The US agreed to slash tariffs on about a third of Chinese imports in return for guarantees on intellectual property and US$200 billion in purchases of American goods in the next two years.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover