Investors will monitor Trump's signal on the Hong Kong bill, more earnings reports as well as a speech from Powell.
US President Donald Trump shows a letter from Chinese President Xi Jinping as he announces an initial trade deal with China at the Oval Office of the White House in Washington, DC on October 11, 2019.Here are the most important things to know about Monday before you hit the door.The market is on edge regarding the status of U.S.-China trade deal talks and they could get a lot more complicated this weekend or early next week.
"We have to stand with Hong Kong, but I'm also standing with President Xi," Trump told Fox News on Friday. He later said he will take "a good look" at the bill. The U.S. and China are close to finalizing a long-awaited "phase one" trade deal. Beijing has expressed strong opposition to the bill.The stock market is trying to rebound from the first losing week in more than a month.
The president's unwillingness to commit to the bill drew criticism from Senate Democratic Leader Chuck Schumer. "For a guy who promised to be tough on China, President Trump's reliable deference to President Xi is all the more bewildering. Being tough on China when it comes to human rights will also help us win the battle on trade," Schumer said in a statement on Friday.Earnings season also starts to wind down as 95% of the S&P 500 companies have already reported.
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