Markets React to Trade Deal

There was an immediate 500 point pop in the Dow Jones Industrial Average when the details emerged overnight about a 90-day trade deal with China. Eventually, the Dow futures were up by nearly 1,000 points. In the ag commodities, soybeans and soybean oil moved higher. “It looks like President Trump is getting his goals,” said Tommy Grisafi, who is with the Nesvick Trading Group. “We’re still keeping a 30 percent tariff on China, but this means the ships that may be coming into a California port, they can get unloaded with light tariffs and go about their day.” A USDA supply/demand report will be released at 11, resulting in another “wild day” in the markets.