Something strange happening and I am not seeing news on why.
The DOW is suddenly up over 2000 points in the last hour. Anyone’s google-fooo (because I cannot us the letters f and then u together?) better than mine? Did we just get a new president or something?
Bond market selling bonds today and it went good.
Found it right after this post -
Stock market today: Live updates
Dow surges 2,400 points, Nasdaq jumps 8% after Trump signals a 90-day pause on tariffs: Live updates
He is back to manipulating markets again.
Yeah.
Give it a minute or two.
I am guessing it is low odds that we are back to market ATHs now.
What a ridiculous bounce though.
The reason I say that: Ignore every other tariff on the planet. What would normally happen when US puts 125% tariff on China (up from whatever it was at).
2018 was sideways for good chunk of the year thanks to China tariffs.
I hope I didn’t miss my true buying opp chance (again) as I have been narrowing down my choices to: OSCR, PTLO, TTD (in $30’s), and ELF.
I haven’t dived deep into ELF yet, but thought they source from China, so why they are up in sympathy today makes no sense.
Que sera sera.
The Orange man giveth and the Orange man taketh away.
As you were,
Dreamer
Mr. Trump announced a 90 day pause to increased tariffs. Not to China, but most other countries. They will pay 10% tariffs. Specifically 75 countries who have asked to negotiate.
They say doing all that negotiating in 90 days will be difficult. But that’s the plan.
They say 10% tariffs is still high compared to where they were but it is a relief compared to what he had planned.
Realistically speaking it’s impossible. The Trump team has said not only must the number (roughly) match, but other countries must get rid of what they see as “impediments” to allowing US products in.
Those include, notably, VAT taxes, so every country that uses them, which is most of them, would have to completely change taxation policy. That is virtually impossible even if they wanted to do it, which they don’t.
Further, they don’t like certain things we do, like give chlorine baths to chickens before shipping them. They’re rather fussy about their food and are much less tolerant of the kinds of mass-production of food than we are. (That’s only one example; there are many.) For example, they have regulations about what can be called Parmesan Cheese - and what sells in the US under that name doesn’t qualify.
So yeah, there are tons of impediments, and 90 days isn’t close to enough time. 90 months might be a decent start, that’s about 8 years, but even that might be optimistic.
“90 days” is a face-saving retreat from these absurd tariffs which cratered the stock market, and this morning, did the same to the bond market. That’s when the insiders knew the game was up, and the white flag was waved.