Insights, Delivered Daily.

Counter attack! Stocks were hit with a one-two punch yesterday as China fought back in the war of words and traders started to heed the warnings of the bond market. Stocks spent the day under water as trade jitters and recession fears ruled the session.

THE TOP LINE

Which way is up? Stocks traded up on Friday as traders scraped up bits of hope that a speedy deal will be reached with China. Stocks gave up early gains on a positive Trump comment but still managed to close in the black on the lowest volume day of the year.

No quarter. Stocks gave no mercy to investors yesterday as trade fears and disappointment in the Fed sent shares lower. Continued fallout from the Huawei ban sent chip manufacturers down and increased crude supply put the energy sector into a tailspin.

Stress mess. Stocks slid yesterday as trade tensions continued to weigh on traders and the Fed seemed content with rates just as they are. Tuesday’s optimism gave way to stress as investors began to think about a potential trade retaliation from China.

Temporary relief. Stocks rallied yesterday on news that the Commerce Department would give temporary exemptions to some companies impacted by the Huawei ban. Despite the trade talk standstill, hopeful traders reversed much of Monday’s selloff in technology, which led markets higher.