The Dow made a sizeable rebounds Thursday after a 785 point plunge, but Eugene Graner of Heartland Investors in Bismarck says that's the norm.
He says the U.S.-China trade war and the arrest of Huawei CFO Meng Wanzhou, who is the daughter of the founder of one of China's most vital companies.
Graner says the reason the spike seems extremely low is because people only really notice the number, not the percentage.
“There's a perception that the market is going down, it's really not it's just given up the gains on the year which were at their best levels on Oct. 1 we're up 10-12 percent on some markets, now we're either unchanged or down 1 percent in some cases, the problem is the percentage movement,” said Graner.
Graner says Trump and Xi Jinping have made a hand shake agreement to delay the trade war until March 1.
This should give them time to figure out the intellectual property aspect of what China has been taking from the US and part of the deal included China buying ag products from the US so the market is waiting for that but not seeing clues of it just yet.
The Dow closed the day just 78 points down, making a huge recovery.