Wall Street’s top strategists describe current market sentiment as TWITCHY, SKITTISH and ANXIOUS.
Investors are concerned about trade tensions, confusing economic data, and uncertain monetary and fiscal policy plans; hence, the multi-week defined trading range.
Trade is at the crux of the current uncertainty. Companies with supply chains exposed to China might delay capital spending until there is more clarity. That would mean lower spending now and weaker productivity, reducing economic growth.
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