While all eyes will be on the U.S.-China trade talks next week as they resume in-person negotiations in Shanghai, it likely won’t end in any resolution just yet. And there could be a much anticipated rate cut from the Fed–or maybe not.
Tariffs: Next week’s meeting will be the first round of in-person talks after U.S. President Trump and his Chinese counterpart President Xi Jinping agreed at the end of June to restart talks at the G-20 Summit in Osaka, Japan. Larry Kudlow, director of the National Economic Council, on Friday told CNBC’s “Squawk on the Street” that the meeting would likely be a resetting of the stage to May when the talks last broke off.
Economy: Will they or won’t they? The Federal Reserve’s FOMC meets on Tuesday and Wednesday, and the answer to this big question of whether the Fed will cut interest rates could finally be answered. Wall Street seems to be banking on a cut of at least one-quarter of a percent, but some economists feel the cut may come later in the year, either in September or December.
Also on the agenda for next week is The Conference Board’s Consumer Confidence Index for July, which comes out Tuesday. That’s followed by reports from the federal government later in the week on personal spending on apparel and footwear and an update on U.S. imports.
Earnings: Earnings season continues, with Ralph Lauren Corp. and Under Armour Inc. on Tuesday, and Simon Property Group on Wednesday. Hanesbrands Inc. reports on Thursday.