Markets Resist Trump's Tough Talk on Trade Ahead of G7
*By Michael Teich*
President Trump's tough talk on trade at the start of the Group of Seven summit was not enough to dampen markets, said Daniel Ives, the chief strategy officer and head of technology research at GBH Insights.
Major stock indexes closed on a high note Friday, locking in gains for the week. Equities edged up despite trade tensions stoked by Trump's comments before arriving in Quebec for the G-7 that he would "deal with the unfair trade practices."
"Tariffs have been a black cloud, but it's becoming background noise," Ives said Friday in an interview with Cheddar.
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Microsoft, Netflix, and Google are all in positions of strength to make acquisitions, Ives said.
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While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
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