The Dow clung to its record rally on Tuesday, but one economist exposed 5 gaping holes in the trade deal that should give investors pause.
- The Dow clung to record highs but failed to extend its rally much further.
- One economist unveiled a sobering assessment of what the trade deal really means for the stock market.
- China’s plan to increase US imports may end up hurting the Hong Kong economy.
The Dow struggled to extend its record-setting rally on Tuesday, as fragility in its heaviest stock continued to fester.
Investors remain optimistic about the market impact of the US-China trade deal, but economist Mohamed El- Erian published a sobering critique that proves the trade war cease-fire might not last for long.
Dow Hesitates After Reaching New Zenith
TheDow Jones Industrial Averageclosed at a record high on Monday, but the index sharply pared its gai ns during the afternoon session. That weakness carried over into Tuesday.
Shortly after the open, the Dow had dipped another 5. (points or 0. (% to) , 500.
GIPHY App Key not set. Please check settings