Friends
So, let me get this straight. Every rumor or report that tariffs are about to be imposed by the White House sends stocks down for a quick dip. Then, when actual tariffs are announced and China retaliates, stocks rally. Ok traders, try to trade that. Indeed, despite yesterday afternoon’s announcement that the U.S. was initiating tariffs on Chinese goods (albeit, less than previously expected) stocks rallied this morning and added to their gains as the President seemed to indicate that negotiations could still possibly work.
Anyway, by the close the Dow Jones Industrial Average was up 184 points to finish the day at 26,246. The S&P 500 was up 15 points to close at 2,904. Gold was down $3 to trade at $1,202 per ounce, while oil was up $.93 to trade at $69.84 per barrel WTI.
We’ve known that headlines can move markets and that in this day in age, headlines are a plenty. But, what is most interesting is that the headlines aren’t necessarily moving markets in the direction that market participants might think. Fascinating times, but good times still for the bulls.
Have a nice evening everyone.
