Richard’s Thoughts on Tariffs and Trade Wars
President Trump broke with all prior US presidents in agreeing to meet with N. Korea's leader, with no pre-conditions. As with tariffs, this was apparently a surprise to his administration, but unlike the tariffs, stock markets gave his idea a thumbs up in the way of big rallies. Japanese, Korean, and Chinese shares all finished strongly higher, despite a puzzling 0.1% decline in the Asia Dow. The STOXX 600 registered European hopes, with a 0.43% gain. American exchanges were all higher as well.
US stock indexes all opened higher, and rallied consistently from there. Tariff concerns faded into the background as traders focused on the N. Korean news, and also a very positive employment report. New jobs rose about 50% more than expected, while upward wage pressure was weak – a win/win for the economy if not for its workers.
At the close, the Dow Industrials were up 441 points or 1.77%; the ... Log in or subscribe to continue reading.
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