Staying Cautious in Markets Amid a Trade War, Trump's Posts
The stunning US stock rebound is likely over, even as the US takes steps toward trade negotiations, according to Bank of America Corp.'s Michael Hartnett. The strategist said stocks had 'correctly' rallied on optimism around lower tariffs in the second quarter. However, he doesn't see further gains as investors 'buy the expectation, sell the fact,' Hartnett wrote in a note. The S&P 500 has surged 14% since President Donald Trump announced a reprieve in some levies on April 9, although it remains 3.7% lower for the year, trailing international peers. Washington has also taken a softer tone on global trade in the past few weeks, and is weighing a dramatic tariff reduction during weekend talks with China. Matrix Asset Advisors President and CIO David Katz explains why he's staying "less aggressive" for now. David speaks with Paul Sweeney and Jess Menton on Bloomberg Radio. (Source: Bloomberg)
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