Excerpt from MarketWatch quoting DataTrek’s Nick Colas:
…. “DataTrek Research co-founder Nicholas Colas said in a note Tuesday that Trump’s decision to ramp up pressure on China likely coincided with his recent bump in approval ratings. Following the release of the Mueller report, Trump’s Gallup approval rating was 46 percent, the highest it has ever been.
Trump likely saw the bump in support as an opening to take a shot at China, Colas said. He likely made a calculated decision that, with his approval rating and the S&P 500 both near all-time highs, he would be willing to sacrifice a few points off of both to increase his negotiating leverage on China, he said.
“President Trump’s approval ratings just now give him some latitude for playing hardball, even if it comes at the expense of equity prices. This story is not over yet, but it should end well enough”….
Read the full article here on MarketWatch!