Excerpt from Barron’s quoting DataTrek’s Nick Colas:
…. “Though global markets had expected some sort of limited deal for a while, the pact—along with the U.S.-Mexico-Canada Agreement getting closer to the finish line—gives global business confidence “a much-needed tailwind,” DataTrek Research co-founder Nicholas Colas said in a note to clients. Setbacks are likely, but the bilateral agreements should be enough “to keep hope alive for 2020 economic and corporate earnings growth and limit concerns that rewiring global trade agreements on the fly will tip the world into recession in the near future.” That should boost stock prices higher in coming weeks as companies completing 2020 budgets begin to consider incremental investment, according to Colas“….
Read the full article here in Barron’s!