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 ...
I think the idea is this - building a dishwasher uses steel and aluminium. Tariffs make these more expensive so it now costs more to build a dishwasher in the USA.
In the short term. In the long term domestic supplies will catch up. New production facilities built and more shifts will be added GDP will only go up.
Oh BS. the 25% tariff more than covers the added cost of manufacturing in the USA.
Tariffs promote domestic industry and increase GDP over the mid and long term. The only down side would be inflation which shows no sign of picking up. Where did you learn economics from a comic book?
No agreement we have one already- 25% tariffs!!!!
See below. With steel prices going up an average of about 1%, how much do you think the price of a washer, dryer, stove, etc would go up at the retail level? My guess is almost nothing because manufacturers in order to remain competitve would eat an increase as small as this and so would the steel importer
Countries with increases in their share of steel exports to the U.S. included Canada (up 2.3 percentage points), Russia (up 1.4 percentage points), and Germany (up 1.0 percentage point). Among the U.S. top import sources, Canada and Mexico sent more than half of their total steel exports to the United States.
Tariffs will have zero effect on domestic industry, which is still uncompetitive even post-tariff. GDP will be impacted negatively by the substantial tax hike.
You are a cretin.
The markets move on rumor?
Buy on the good news rumor and sell hen it happens
Sell on the bad news rumor and buy when it actuslly happens
The markets are usually pricing stock at where expected levels will be 5-9 months down the road.
LOL. Wrong. I’ve actually lost money on Dow futures (/YM). I’ve made over a LOT of money on NASDAQ futures (/NQ). You can buy and sell futures just like stock. Tick size on a NAS is .25 and is $5. That means every point up or down is $20 per contract. Do the math. If you go short and it drops 50 points - that’s $1000 per contract. That’s real money made or lost.
OK. Now let's have a $50 Billion per year income tax CUT to offset the tariff. Tax changes have to be "revenue neutral" … the 'Rats insist on it.
Pure poppycock globalist lunacy. You are an idiot.
Ok, what would happen to the domestic (US) electronics industry if a 4,000% tariff were levied on all imported computer monitors and flat screen TV’s?
Here's a bright idea: How 'bout we reduce the cost of manufacturing in the USA. You keep swearing up and down that labor costs add only a pittance to the retail price of manufactured items … corporate income taxes and regulatory compliance costs are a different matter. Let's have a big cut in those … make manufacturing in the USA a MORE attractive option. You keep nattering on about how reducing income taxes and increasing tariffs are a traditional Republican position … all well and good. You seem to forget that minimizing the size, scope, power, and cost of government is a traditional Republican position. Coercion is traditionally the democRATs' platform.
How about canning your globalist BS, nationalists are here to save the day.
It may, it may not. But what corporation in their right mind would be willing to invest the hundreds of millions of dollars necessary to recreate industries like textiles or consumer electronics here when the profitability of that investment is based on tariffs which may be repealed by Congress or the President at any time for any reason or whim?
Textiles and electronics are two totally different beasts. Textiles are super labor intensive and electronics are not labor intensive at all. But I would argue that with the reduced energy and shipping costs that even textiles could return the USA.
Did you just wake up from a two year nap? LOL!!!
Consumer electronics - everything from TVs to washers to light bulbs - make up more than half our imports from China. Furniture, textiles, toys, hundreds of other categories of goods are all imported. Reduced energy costs and transportation costs have not been enough in the past to bring them back. Only a high tariff might do that and tariffs can be dropped at a whim, making your investment a money-losing proposition. No business is going to take that kind of risk. They will either continue to buy from China, and pass the tariff on to the consumers, or look for alternate sources from other cheap labor countries.
The Conservative economic policy position is to reduce income taxes and regulations and to increase tariffs which our great President has done.
You globalist ankle biters are easy to ignore.
Globalist???
GFY.
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