No deal? Invesco warns US-China trade talks will likely fail (via CNBCFuturesNow)
Invesco's Kristina Hooper warns there's too much complacency on Wall Street surrounding trade between the U.S. and China.
With Presidents Donald Trump and China's Xi Jinping scheduled to meet Saturday at the G-20 summit, she believes investors are dangerously overestimating the odds of a trade deal." on Tuesday. "So, unless the U.S. is willing to take minor concessions around narrowing the trade deficit, I don't think we're going to see a deal."in a CNBC interview that progress can be made during weekend talks between President Donald Trump and China's Xi Jinping.to count on getting a resolution at all this year, and it's setting the market up for trouble.On Tuesday, the Dow saw its worst drop of the month.
Hooper, who has an S&P 500 year-end price target range of 2,850 to 2,950, sees the Federal Reserve stepping in to mitigate the damaging effects of the ongoing trade war on economic growth and corporate America. Hooper is still predicting the Fed will cut interest rates by a quarter point at its July meeting.
"The reality is the Fed is a powerful force, and it's signaling that it is willing to get a lot more dovish," said Hooper. "[It] really does place an important safety net under stocks.""We're likely to see volatility, short-term sell-offs," Hooper said.
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