Market focus is largely attuned to global trade developments

Posted on December 3, 2019

Dow futures rose 30 points, indicating a positive open of more than 40 points. Futures on the S&P and Nasdaq were both marginally higher.

Market focus is largely attuned to global trade developments, following President Donald Trump‘s decision to impose steel and aluminum tariffs on imports from Brazil and Argentina.

Brazil and Argentina had been “presiding over a massive devaluation of their currencies.” However, in recent months, both countries have been seeking to strengthen their respective currencies against the dollar.

The South American trade tariffs have rekindled broader concerns about a protracted dispute between the U.S. and China, with investors monitoring the prospect of a limited agreement.