MENU MARKETS BUSINESS NEWS INVESTING TECH POLITICS CNBC TV 

MARKETS
PRE-MKT US EU CHINA ASIA WORLD FX CRYPTOCURRENCY COMMODITIES BONDS ETF MARKETS

Professor Siegel: Trump can't

blame Fed's Powell for a bad
market if things go awry with

China's Xi on trade
 Trump can't blame Jerome Powell for a bad market now that the Fed chairman
has appeared to walk back his comments on rates, Jeremy Siegel says.
 The pressure is on Trump "more than ever" to reach a trade agreement with
China, the Wharton professor says.
 Trump "doesn't want to be the cause of a bear market in 2019," he adds.

 Berkeley Lovelace Jr. | @BerkeleyJr

Published 12:08 PM ET Fri, 30 Nov 2018 | Updated 5:41 PM ET Fri, 30 Nov 2018

by Taboola

The biggest mistake you can make when putting

money in your IRA
Made in China: Here are the cars at risk of being
pulled from US market in Trump trade war
Here's the buyout GM offered before announcing
Markets are hoping for conciliation


14,000 job cuts
in G-20 summit, says Wharton
As the famous 'FAANG' trade falters, these five
Professor Jeremy Siegel   tech stocks are the new favorites of top analysts
11:33 AM ET Fri, 30 Nov 2018 | 04:00
Trump suggests he has inside info on Russia
probe, hours after Mueller said Manafort broke
President Donald Trump can't blame Jerome Powell for a bad stock plea deal
market now that the Federal Reserve chairman has appeared to walk Tony Robbins: The 2 most important things to do
back his comments on interest rate hikes, Wharton School finance with your money before you turn 30
professor Jeremy Siegel told CNBC on Friday.

The pressure is on Trump "more than ever" to reach a trade

agreement with China as he meets Saturday with Chinese President
Xi Jinping at the G-20 summit in Buenos Aires, Argentina, Siegel
said. "[Trump] doesn't want to be the cause of a bear market in
2019."

Wall Street doesn't expect the U.S. to reach a breakthrough

agreement with China and neither does Siegel. But analysts hope the
Trump-Xi talks prove positive in preventing the U.S.-China trade
war from escalating further.

In the latest trade moves, the United States levied 10 percent duties
on $200 billion worth of goods from China, prompting Beijing to put
tariffs on $60 billion worth of U.S. goods. Trump is expected to hike
those U.S. tariffs from 10 percent to 25 percent on Jan. 1. The
president has also threatened to put tariffs on the rest of Chinese
imports.

Stocks were mixed Friday ahead of Saturday's Trump-Xi meeting.

However, the Dow and S&P 500 were on pace to post weekly gains
after Powell said Wednesday that rates are "just below" neutral,
perhaps indicating that concerns about a more aggressive path
higher for rates may no longer be warranted. Powell's Oct. 3
comments that rates were a long way from neutral slammed the
market last month with rampant rate fears.

Trump had been critical of the Fed's policies on rates in recent

months, and blamed the central bank under Powell for the stock
market's declines and General Motors' plan to cut production at
several U.S. plants.

The market ultimately expects a resolution on trade, Siegel said

Friday on CNBC, adding that a deal with China is already about 80
to 90 percent baked in to the market. "Any adverse developments ...
would be a great disappointment," he said.

Disclaimer

Berkeley Lovelace Jr.

News Associate

RELATED SECURITIES

Symbol Price   Change %Change

GM 36.59 -1.86 -4.84%

 
S&P 500 2700.09 -90.28 -3.24%
 
DJIA 25287.00 -539.43 -2.09%
 

MORE FROM CNBC by Taboola

If you invested $1,000 in General Motors in 2012, here's how much

you'd have now

The next date to watch in the US-China trade war is Dec. 18, expert
says

Goldman sees 'low returns' from pretty much everything except

cash next year

Tim Cook wakes up at 4 a.m.—here's the rest of the morning

routine that sets him up for success

Don't spend more than this on housing, warns money expert

Jamie Dimon interrupted twice by shouting protesters at Goldman

Financial conference 

      

Independent Programming Subscribe to CNBC PRO Licensing & Reprints News Tips  CNBC Newsletters
Join the CNBC Panel Advertise With Us Closed Captioning Got a confidential news tip? We want to hear Sign up for free newsletters and get more CNBC
from you. delivered to your inbox
Digital Products Terms of Service Privacy Policy

News Releases Internships Corrections GET IN TOUCH SIGN UP NOW

About CNBC AdChoices Site Map Get this delivered to your inbox, and more info about our
products and services. Privacy Policy.

Contact Careers Help

© 2018 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Data also provided by