Wall Street pointed modestly higher before the opening bell as investors pored over the latest corporate earnings ahead of weekend trade talks between China and the U.S. Markets initially seemed indifferent to what appeared to be a de-escalation of the U.

Lately, Wall Street economic commentary has been replete with ominous warnings. President Donald Trump’s tariffs are bound to cause an economic downturn, or perhaps even a recession.

The Wall Street Journal’s conservative editorial board continued with its needling of Donald Trump on Wednesday, this time explaining in a scathing article why it believes the president’s planned expansion of drug price controls should be a no-go.