Wall Street Journal: “While corporate earnings and bond-market jitters have prompted stock swings in recent weeks, trade policy remains the key driver of day-to-day market action. Investors have eagerly greeted any signs of easing tensions by driving markets higher, hopeful that the U.S. will eventually be able to strike deals with little lasting damage to the economy or corporate profits.”
“Few think the trade tensions have dissipated, or won’t spark near-term stock declines going forward. But many said the worst fears of U.S. restrictions permanently reordering global trade have moderated, and the economic blow is unlikely to be as damaging as it appeared when Trump announced sweeping tariffs on April 2.”
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