How Is Your 401k?

Global stock markets soared on Monday following the announcement of a trade deal with China. NBC News Radio National Correspondent Rory O'Neill joins us with details on what this means for your retirement. 

Episode Transcript

Speaker 1 (00:00):
We kid about this, but Brett actually told me today
it's okay to look at my four oh one k. Yes,
Rory O'Neil, let me see news Radio National correspondent, some
good news yesterday for the markets. How are you this morning, brother.

Speaker 2 (00:12):
In the green?

Speaker 1 (00:13):
How are you well ready to roll? I guess once
we found this little China US thing, the market felt comfortable.
And when they coup, it means good things for your
four oh one k exactly.

Speaker 2 (00:28):
So why did we see these three four percent gains
in the markets yesterday? Largely because the US and China
reached a temporary trade deal. This just buys US ninety days,
but still it sends a signal that there might be
some middle ground here. After these incredible tariffs of one
hundred and forty five percent were imposed on imported Chinese goods.

(00:50):
Now that number is still down to thirty percent, still
record highs, but way better than one forty five. And
what we're seeing now is that a lot of companies
that are preparing to get their holiday orders ready are
filing those orders now, pouncing on this opportunity to perhaps
bring in some cheaper goods.

Speaker 3 (01:09):
And Roy, what does it say for getting this one
done at least temporarily, because China was top of the list.
Right as far as the rest of the countries that
we're trying to get trade reorganized deals with, where were
they fall in line?

Speaker 2 (01:22):
Right? Clearly our biggest trading partner. And let's not sneeze
at Canada and Mexico, right, We're still trying to rework
those deals and get something a bit more finalized. But
these are also very complicated, detailed agreements, and what we
talked about typically are sort of broad frameworks. That's the
same thing we saw from that UK trade deal that
they were trumpeting last week. And look, President Trump also

(01:44):
wanted some results here going off to the trip now
in the Middle East. He's in Riad, Saudi Arabia as
we speak. Now he's going to announce billions of dollars
in new American investment. With the hostage being released, the
American hostage at the stock market News Trade deals is
shaping up to perhaps be Donald Trump's best weekend off.

Speaker 4 (02:03):
You talked about broad framework, So do you feel like
we still have maybe a bit of a roller coaster
ride with Marcus just depending on what future deals we
get done, especially talking Canada and Mexico.

Speaker 2 (02:13):
Well right, and are we kicking the can more and more? Right?
And because look, President Trump needs this tariff money to
get a lot of the goals he wants to accomplish.
He wants this money to come in to make America
wealthy again, but also to offset some tax cuts for
these proposing and other programs. And you know, if you
sort of have to have these kinds of trade deals

(02:35):
for his ultimate goal of bringing back these manufacturing jobs
that have been shipped overseas, right, if it gets to
no tariffs on both sides, well we're not going to
make any progress on generating revenue or bringing those jobs back.
So the tariff has to be in there somewhere. Question
is where do those numbers settle down?

Speaker 1 (02:55):
That is big money. Rory O'Neil, NBC News Radio National correspondent,
Thanks for your time today.

Speaker 2 (03:00):
Thanks you