Pallets of Cash
“Barring Chinese students from U.S. universities would accomplish very little as almost all Western countries educate foreign students,” says our first contributor today.
“In Canada, they are charged triple the tuition paid by Canadians. Universities have become dependent on the income from foreign students to balance their budgets.
“At the U of Toronto last year, of the approximately 230 graduates, at least a third were foreign students.
“The University in Auckland, NZ has even installed Chinese hole-in-the floor style toilets to accommodate foreign students. Go figure!”
Up next: was it appropriate for Trump to meet with Kim in North Korea?
“I see nothing wrong with Trump trying to influence denuclearization with NK. If it doesn’t work we don’t lose anything; it’s not as if Trump were giving them pallets of cash or military secrets.
“Do you think the U.S. shouldn’t have become allied with Britain because of the Revolutionary War?
“Peace is the goal and talking is the way to get there.”
Your Rundown for Tuesday, July 2, 2019:
Gold on the Ropes
Over the weekend, President Trump and China’s Xi Jinping reached a trade war detente, agreeing to open channels for negotiation.
And with that — Monday morning — the market’s fresh optimism propelled the S&P 500 to a record high of 2,977.86.
Gold, on the other hand, not so much…
That’s not surprising: a boost for stocks typically means a “blow to havens,” Bloomberg says. And yesterday’s blow was a haymaker — the steepest drop in the price of gold this year.
“Gold was well overdue a period of consolidation and gold bulls should welcome it,” says Ross Norman, CEO of gold brokerage Sharps Pixley Ltd. “This provides a welcome entry point.”
And entry point is another way to say gold might be on the ropes but not out for the count.
Market Rundown for Tues. July 2, 2019
S&P 500 futures are down 2 points to 2,962.67.
Oil is down 40 cents to $58.69 for a barrel of WTI.
Gold is up $6.00 to $1,395.30 per ounce.
Bitcoin’s down $680.45 to $9,904.05.
Have a good day. We’ll talk tomorrow.
For the Rundown,