VOO - Trade Talk And German Industrial Output Lifts Sentiment
Overview:
Comments by Chinese President Xi, recognizing substantial progress in trade, helped boost sentiment after the US-China negotiators failed to set a date for the meeting between the two presidents. Although we have argued that the German economy may be past the worst, the sharp drop in factory orders spooked investors. However, today's stronger-than-expected industrial output data, lifted by construction, lends credence to ideas that the external sector is the chief weight as the auto industry continues to work through its idiosyncratic challenges. US (and Canada's) job reports are the highlight ahead of the weekend.