Daily Wrap – Constructive Consolidation, But An Indicator Is Screaming, “Recession Ahead.” Also Big News on the Trade Front.

Stocks opened lower, then came of the lows when Treasury Secretary Scott Bessent said the US is negotiating with 17 of 18 key trade partners, but he also said that no talks had begun with China. President Trump confirmed that there were no ongoing talks with China this afternoon, which sent stocks lower. On a…