Posted on 05/13/2019 4:36:04 AM PDT by Enlightened1
Wall Street was setting up for a tough start to the week on Monday, with Dow Jones Industrial Average futures down over 300 points as investors waited for countermeasures from China after trade talks with the U.S. appeared to end in a stalemate.
How did the benchmark indexes fare?
Dow futures YMM9, -1.28% fell 311 points, or 1.2%, to 25,653, while S&P 500 futures ES, +1.86% dropped 36.40 points, or 1.2%, to 2,850.50. Nasdaq-100 futures NQM9, -1.76% slid 127.75 points, or 1.7%, to 7,482.50.
On Friday, the Dow Jones Industrial Average DJIA, +0.44% rose 114.01 points, or 0.4%, to end at 25,942.37, recovering from a deficit of more than 350 points. The S&P 500 index SPX, +0.37% gained 0.4% to 2,881.40, while the Nasdaq Composite Index COMP, +0.08% climbed 0.1% to 7,916.94.
For the week, the Dow fell 2.1%, its biggest weekly loss since March. The S&P saw a 2.2% weekly fall and the Nasdaq shed 3%, the biggest losses for both since the week ending Dec. 21.
Whow did the benchmark indexes fare?
Dow futures YMM9, -1.28% fell 311 points, or 1.2%, to 25,653, while S&P 500 futures ES, +1.86% dropped 36.40 points, or 1.2%, to 2,850.50. Nasdaq-100 futures NQM9, -1.76% slid 127.75 points, or 1.7%, to 7,482.50.
On Friday, the Dow Jones Industrial Average DJIA, +0.44% rose 114.01 points, or 0.4%, to end at 25,942.37, recovering from a deficit of more than 350 points. The S&P 500 index SPX, +0.37% gained 0.4% to 2,881.40, while the Nasdaq Composite Index COMP, +0.08% climbed 0.1% to 7,916.94.
For the week, the Dow fell 2.1%, its biggest weekly loss since March. The S&P saw a 2.2% weekly fall and the Nasdaq shed 3%, the biggest losses for both since the week ending Dec. 21.
(Excerpt) Read more at marketwatch.com ...
Contrived “reaction” engineered by globalists. If the stock market reacts to a small tariff that affects $200B in goods, realizes a tiny $50B in money collected, versus a stock market with a $34T net worth then you know this is TOTAL BS.
The markets always emotional and not rational.
They had that information a week ago. Markets don't react to what was known a week ago. The react to what they think will happen in the future.
A week ago they were being told that there was still a chance to strike a deal before the deadline hit. On Friday Trump said that talks were still continuing and going well. Now they know that neither of those things were true.
seems 10 years ago 300 points was a large move ( it was a larger % drop)
Today it seems the typical person responds the same way emotionally to a drop of 300 pts which is a much small % change.
This tax hike is more than 1/3 the size of the Ryan tax cut that kicked off the rally at the end of 2017.
$50Billion IS NOTHING LOL! Contrived globalist Free Traitor™ SCARE TACTICS.
Or are they manipulated to create hysteria where none should exist?
Economics is the dismal science.
The future is quote bright for US workers, wages, manufacturing and the economy in general. Buying opportunity.
Free Traitors™, so are you going to dump all of your stocks today? Hmmmm??????
Good. Always nice to hear of China Stagnating at anything.
CNBC says that China just reciprocated on tariffs on America.
Tariff all Chinese exports, President Trump.
Really.
Still trying to hold down the last of the nevertrump defences before it gets overrun.
China has been charging us tariffs the last 20 plus years.
We were the ones that were not. I am reading this as China is going to increase their tariffs.
That is fine and we can do the same with reciprocal trade to China.
The Paul Ryan tax cut was 1.5 trillion over a decade.
That’s 150 billion a year.
The TrumpTariffs tax increase last week was $50 billion a year, or 1/3 the size of the prior tax cut. That’s added to about 20 billion in annual tariffs on other Chinese goods and on steel and aluminum, not to mention the threatened tax hikes on automobiles that are due to be decided THIS WEEK, by the taxer in chief.
So, it’s getting close to half the size of the big tax cut in tax hikes. The market is responding rationally and has not finished pricing in the depressive economic effects of this.
Trump’s tariff war with China will hit TVs, dishwashers, toys, lithium batteries, iPhones — even Silly Putty
GOOD! I am an AMERICAN before I am a freakin' "consumer". I can do without a new TV, appliance or phone for 2 years if that's what it takes to utterly destroy the Chinese and level the playing field after DECADES of TREASON by our elected officials of both parties.
Trump this is why you were elected.
This issue, right here.
Make Americans proud.
translation: there were no buyers except at a discounted price.
Soros, Buffet, Koch effect...get some stuff on sale, I say, if it drops enough.
Temporary.
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