- With trade being a major driver in consumer/corporate sentiment and equity prices, the situation brightened a bit last week with a few steps by both the U.S. and China. Trump has postponed imposing the October 1st tariffs for two weeks and has accepted the idea of restarting trade discussions. China has also kept their currency exchange stable, rolled back some tariffs on U.S. products, and have started to inquire about prices for U.S. agricultural goods. The S&P 500 traded back to just under its end of July highs on the news. https://www.reuters.com/article/us-usa-trade-china/as-trade-talks-loom-chinese-firms-look-into-buying-u-s-farm-goods-idUSKCN1VX0NJ
- Oil prices surged nearly 20% this morning and WTI currently sits up roughly 9% due to the Houthi attack on two key Saudi Arabian oil installations this weekend. The damage decreases Saudi output by 5.7m barrels per day, or half of their normal output. The U.S. authorized the release of oil from the U.S. Strategic Petroleum Reserve on Sunday to help alleviate some of the strain on the global oil markets. https://www.bloomberg.com/news/articles/2019-09-16/saudi-led-yemen-coalition-says-iran-weapons-used-in-oil-attacks?srnd=premium
- Federal Open market Committee meetings will be held Tuesday and Wednesday of this week. The market is expecting another quarter point cut, with anything more or less surely to move stock prices. https://www.foxbusiness.com/economy/trump-powell-federal-reserve-meeting-rate-cut
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