The much-awaited news on the government shut-down and the U.S., China trade deal is here. Both news is positive and is expected to give the global markets a vigorous push upwards.
A tentative deal to avoid the next government shutdown was reached by U.S. lawmakers in Washington.
Alabama’s Sen. Richard Shelby, also a Republican, has drawn a tentative deal to fund the government after talks with the Democrat lawmakers. However, this does not include the amount of $5.7 billion for funding the border wall. Once the legislation is written and is passed by the President, the second government shutdown may be avoided.
Trade deal talks between the U.S. and China are on and structural reforms are expected from the talks to be held with the Chinese president on Friday in Beijing. It remains to be seen how China reacts to demands on intellectual property from the U.S. China has been accused of following unfair trade practices. Stealing intellectual property is another factor that China has been charged with.
President Donald Trump has suggested that the deadline of March 1 can be postponed, so that an agreement can be reached. The delegates from both sides will meet on Friday to talk about the deal. If the talks move in the right direction, the deal can be clinched and a high tariff on Chinese goods can be averted.
The U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will be holding talks with Chinese authorities, to clinch the deal.
The market rally that started on Tuesday may continue on Wednesday, offering relief to the market and investors.
The S&P 500 has closed above 200 DMA after almost a month. This was an important level watched by technical analysts.
For the day, the CPI numbers and the federal budget for the month will be out and will further guide the movement of the market.
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