Stocks are rebounding as investors are encouraged by signs of a trade easing and as the US reviews options with its allies regarding a potential strike against Syria; traders are turning their attention to the US earnings season.
A week after escalating tensions with his threat to impose tariffs on another $100 billion in Chinese goods, President Donald Trump on Thursday expressed optimism about the trade deal with China by suggesting the U.S. rejoin the Trans-Pacific Partnership free trade agreement, from which he withdrew shortly after taking office. These reactions have boosted stocks in trade-sensitive sectors, including commodities and construction.
China posted an unexpected trade deficit of USD 4,98 billion in March, its first since February 2017, right in the midst of escalating trade disputes with the US. The deficit is believed to be due to seasonal effects related to the Chinese New Year celebrations. The market had expected a surplus of USD 27,5 billion. Exports fell 2,7% in March compared to a 44,1% increase in February. Meanwhile, imports rose 14,4%.
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