A couple more opinions on Trump’s trade-war tactics:
“I think Trump is playing hardball to stimulate the economy in the U.S.; [it] should have been done a long time ago.
“China falls without the U.S. market so, long term, we win… but we don’t want to get into a shooting war. China’s air power is a lot better than it used to be.”
Another reader believes almost the opposite…
“America miscalculated China. The U.S. believed China would become another Korea and Japan where foreign corporations and foreign economies dictate the future of their countries’ economy.
“However, China… became more entrenched as a dictatorship. So now the U.S. feels threatened by China’s economic rise just like it feels threatened by Russia and the Middle East.”
Last, we’ll leave you with this teaser regarding your opinions on the Mueller report as a distraction… and The Rundown?:
“The only smoke and mirrors that’s being pulled here is from New World Order agents like you!”
We can assure you: the closest we’ve come to the N.W.O. is a song by The Ministry.
Your Rundown for Monday, May 13, 2019:
We don’t know what the weather’s like out your window but where Agora’s headquartered in Baltimore, it’s a cold and rainy May day. And the weather forecast matches the markets.
While Treasury Secretary Steve Mnuchin said trade negotiations with China were “constructive” Friday, global markets are indicating otherwise today.
Here’s a sampling:
- The Dow’s down over 500 points this morning
- The S&P 500’s experiencing its largest decline since March
- Blue chips Boeing and Caterpillar are down over 3%
- Microchip makers Intel and Nvidia are down almost 2%
- 10-year U.S. treasuries have fallen to lowest rates since March
Not to mention, Chinese stocks are selling off at at a remarkable pace.
And China’s threatened tit-for-tat measures against the U.S., imposing $60-billion worth of tariffs on U.S. imports like soybeans, cotton and more.
The bright and shiny market that’s getting an uplift from trade-war histrionics? Gold’s price, of course, has increased almost 1% this morning.
The other(?) safe haven bitcoin’s surged past the $7,000 mark, advancing over 16% this weekend.
Do you think bitcoin’s gaining relevance again? How about as a safe haven?
Market Rundown for Mon. May 13, 2019
S&P 500 futures are down 46 to 2,835.17.
Oil’s up $1.49 to $63.15 for a barrel of West Texas crude.
Gold’s added $12.30 to its price at $1,299.70.
Bitcoin’s flown past $6,000… it’s added $385.90 to $7,367.92.
Have a day. We’ll talk tomorrow.
For the Rundown,