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Live Coverage Has Ended

Markets Hold Back

Photo of Gerelyn Terzo
By Gerelyn Terzo Published

Live Blog Update #3 Published

← Back to Full Coverage: Live Nasdaq Composite: Markets Rise as China Tariffs Do This

China’s government officials have come out swinging against the White House, saying they strongly opposes what they described as “U.S. abuse” of reciprocal tariffs. Earlier today, President Trump revealed that he was willing to reduce tariffs on China imports to 80% from a triple-digit percentage level. Washington, D.C. and Beijing officials are set to come to the negotiating table this weekend. Stocks are lower on the trade deal uncertainty.

All Updates from Live Coverage

Buy the Rumor

| Gerelyn Terzo
Live

Bank of America has issued a report advising investors to buy the trade deal anticipation but sell the news. BofA Chief Investment Strategist Michael Hartnett wrote, “Oversold equities have correctly front-run Q2 trade deals/lower tariffs. We expect ‘buy the expectation, sell the fact,’ stocks fade into the trade deals.” The White House is expected to meet with China officials on potentially reaching a trade agreement over the weekend. Stocks remain lower out of caution.

Markets Reverse Course

| Gerelyn Terzo
Live

The stock market has reversed course, leaving all three of the major stock market averages in the red after coming out of the gate higher on China trade deal hopes. Traders and investors appear to be playing it cautiously until the White House and Beijing sign on the dotted line. Market declines are modest, including a 0.07% drop in the Nasdaq Composite. At this rate, stocks are likely to continue meandering between positive and negative ground for now.

Weekly Performance

| Gerelyn Terzo
Live

The Nasdaq Composite is on pace for a fractional gain today and  has advanced a more impressive 7.9% over the past month. Year-to-date, the tech-heavy index is still lower by 6%. Over the past five trading sessions, Broadcom (Nasdaq: AVGO) has gained 5% while Apple (Nasdaq: AAPL) has lost 7.4%.

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Photo of Gerelyn Terzo
About the Author Gerelyn Terzo →

Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.

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