"This article will be updated throughout the day, so check back often for more daily updates. U.S. and Chinese representatives met over the weekend to continue wrangling over trade issues, and both governments seem to be using their counterparties' companies as bargaining chips in the talks. From the U.S. side, there's discussion of removing the ban on TikTok if China accepts higher tariffs on its exports - or proceeding to ban the company from operating in the U.S. if China balks."
"Tesla's ( Nasdaq: TSLA) also in the news today, after Elon Musk spent $1 billion of his own money buying up Tesla shares. The CEO's enthusiasm for his own electric car company is lifting Tesla stock nearly 8% premarket. The week's biggest news, however, hasn't happened yet. On Thursday, the Federal Open Markets Committee is expected to announce a 0.25% reduction in its target interest rate. Investors see this move as basically in the bag, and are still in a buying mood because of it:"
U.S. and Chinese representatives held weekend trade talks with little clear progress, trading corporate actions as bargaining chips. The U.S. threatened TikTok removal unless China accepts higher export tariffs, while China launched an anti-monopoly probe into Nvidia. Elon Musk bought $1 billion in Tesla shares, pushing Tesla stock roughly 8% higher premarket. Market participants expect the Federal Open Markets Committee to cut its target interest rate by 0.25% on Thursday. Investors largely priced the cut in and maintained a buying stance ahead of the announcement, keeping major indices supported despite geopolitical friction.
Read at 24/7 Wall St.
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