Kenny Polcari, managing principal at Butcher Joseph Asset Management, said that he thinks that the lack of headlines on the trade talks front could mean that a trade deal is around the corner.
Larry Kudlow, the White House economic adviser, made comments over the weekend that he believes that the trade talks are making progress.
"The markets are still going to focus on China trade talks. Now listen, what's been really interesting is that last weekend, remember it was all about we have a deal, we have a deal, we have a deal, and then last week they went suddenly quiet," Polcari said. "They didn't come out, no one came out and said we don't have a deal, but nobody really came out and clarified that the deal was getting any stronger, which actually leads me to believe that I think the deal is getting stronger."
He continued, "My guess is that they're getting closer, and so therefore I think the market's going to continue to focus on trade, and I think once we get that trade deal, you're going to get that spurt in the market again because the market has backed off because there's been lack of news and the markets backed off cause it's concentrating on some of these other, some of these other macro data points coming from around the world that have kind of created cautiousness again. "