US politics, conflict in Syria and big earnings to steer Wall Street
Response to earnings season could decide whether stocks are headed for new highs or back to their February lows
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US stocks rose last week but volatility persisted, thanks to the tweeted slings and arrows and the outrageous fortunes of President Donald Trump.
A limited bombing in Syria could alleviate some concerns. But this week is likely to provide plenty of Twitter and market fodder as corporations such as Bank of America, General Electric and Netflix encounter high earnings hopes and developments in Syria, China and Washington DC could confirm worst fears.
Stocks started last week with a rally after Chinese Premier Xi Jinping emphasised the importance of dialogue and comity in trade policy. One of the biggest factors that weighed on stocks during the first quarter was the sense that a trade war was brewing between the US and China. The Trump administration has proposed tariffs on as much as US$150 billion in Chinese imports, demanding reforms to China's intellectual-property protocols among other concessions. Some of that optimism faded over the week as the market's cherished dream - a new trade deal between the US and China that satisfies both sides - failed to materialise.
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