U.S. stock index futures initially rose after the news, which investors expect removes a distraction for an administration that can now focus on striking a deal with the world’s second largest economy. But Asian shares fell Monday, and U.S. futures followed suit, amid overarching concerns over slowing global growth. If the world’s two largest economies can agree on a trade deal, then that could help boost confidence in the economic outlook.
“It is notable that the Mueller report hasn’t really generated a lot of coverage in the Chinese press,” Duncan Innes- Ker, Asia regional director at The Economist Intelligence Unit, said in a phone interview Monday. “Certainly in comparison with the trade talks, (the report) hasn’t generated the same sort of buzz on social media.”
“The fact there wasn’t any smoking gun, indictment of Trump or Trump family members, puts the administration in a better position to fight for the 2020 election — and that has implications for the trade talks,” he said, noting the Chinese will have to give more weight to the idea that Trump may be the U.S. leader for another term.
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