The Dow Jones industrial mid-range is fresh and announces its ninth highest rating in 2019, but further market records may depend on a series of speeches by perhaps the most important people in the stock market: the president Trump and Jerome Powell,
Trump is scheduled to speak at the Economic Club of New York at 12:00. Eastern Time, where it is expected to discuss a long-running tariff dispute between China and the US, which has entered into an immediate installment settlement as both sides try to find a partial resolution.
Recent reports also suggest that the president will delay the imposition of import duties by six months on European car imports. The decision deadline is Wednesday and it has already been postponed once before, in May.
Trade development has been a central driver for markets in recent months, as progress towards the so-called phase, a Beijing-Washington deal, helped set the stage for
DJIA, + 0.04%
The S&P 500 Index
and the Nasdaq composite index
to resume another attack on records.
Perhaps more than other US presidents, Trump has succeeded in making a profit in the stock market and also in the health of the US economy:
However, uncertainties in the substance of the Sino-US agreement and conflicting reports on the list of tariffs back as part of a resolution have introduced some uncertainty in recent trade markets. Last week, the Chinese Ministry of Commerce said both sides agreed to end recent tariffs as part of the elements of a partial tariff deal, but this report was soon followed by reports that sales officials in the Trump administration were not Agree,
Read: The Fed cut the percentage right at the beginning of time, says the Synoptic Award winner
"The main reason for the pause we've seen in the last 48 hours is the result of conflicting signals, asked by the Chinese Department of Commerce and President Trump whether we can expect to see a delay or cancellation of tariffs at each stage, a deal agreed in the coming weeks, "Michael Huson, chief market analyst at CMC Markets UK wrote in a research note on Tuesday.
Federal Reserve Chairman Jerome Powell must give congressional testimony about the state of the economy less than 24 hours after talks with Trump.
Powell on Wednesday at 11 a.m. Eastern Time will testify before the Joint Economic Committee, which is chaired by Senator Mike Lee, a Utah Republican. On Thursday at 10:00, Powell will speak to the Committee on Budgets.
The testimony will come after the Federal Open Market Committee last month gave its third consecutive reduction in the rate of so many meetings of the rate-setting body. The 10-year Treasury note
TMUBMUSD10Y, + 0.31%
and the US dollar
DXY, + 0.17%
may be the most sensitive assets. Yields can also stimulate or reduce bond demand by extending the dollar.
See : Why will the Fed reduce interest rates in a row, even as stocks near record? Investors may soon understand