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Dow Futures Fall Over 300 Points As U.S.-China Trade Talks Appear Stalled
Market Watch ^ | 05/13/19 | Barbara Kollmeyer

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 ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Politics/Elections
KEYWORDS: 4dchess; artofthedeal; china; stall; stockmarket; tariffs; trade; trumpasia; trumpchina; trumpdjia; trumptrade; watchandlearn; winningbigly
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To: billyboy15

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.


41 posted on 05/13/2019 7:02:28 AM PDT by Krosan
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To: Krosan
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.

42 posted on 05/13/2019 7:04:30 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: babble-on

Oh BS. the 25% tariff more than covers the added cost of manufacturing in the USA.


43 posted on 05/13/2019 7:05:55 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: babble-on
The market is responding rationally

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?

44 posted on 05/13/2019 7:09:12 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: billyboy15

No agreement we have one already- 25% tariffs!!!!


45 posted on 05/13/2019 7:10:40 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: Krosan

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.


46 posted on 05/13/2019 7:11:12 AM PDT by billyboy15
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To: central_va

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.


47 posted on 05/13/2019 7:15:18 AM PDT by babble-on
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To: central_va

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.


48 posted on 05/13/2019 7:15:19 AM PDT by billyboy15
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To: Haiku Guy

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.


49 posted on 05/13/2019 7:16:27 AM PDT by NELSON111 (Congress: The Ralph Wolf and Sam Sheepdog show. Theater for sheep. My politics determines my "hero")
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To: babble-on
The TrumpTariffs tax increase last week was $50 billion a year

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.

50 posted on 05/13/2019 7:18:22 AM PDT by NorthMountain (... the right of the peopIe to keep and bear arms shall not be infringed)
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To: babble-on
Tariffs will have zero effect on domestic industry

Pure poppycock globalist lunacy. You are an idiot.

51 posted on 05/13/2019 7:18:47 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: babble-on; All

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?


52 posted on 05/13/2019 7:22:47 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
the 25% tariff more than covers the added cost of manufacturing in the USA.

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.

53 posted on 05/13/2019 7:25:48 AM PDT by NorthMountain (... the right of the peopIe to keep and bear arms shall not be infringed)
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To: NorthMountain

How about canning your globalist BS, nationalists are here to save the day.


54 posted on 05/13/2019 7:28:57 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
Oh BS. the 25% tariff more than covers the added cost of manufacturing in the USA.

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?

55 posted on 05/13/2019 7:34:45 AM PDT by DoodleDawg
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To: DoodleDawg

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.


56 posted on 05/13/2019 7:40:09 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: NorthMountain
corporate income taxes and regulatory compliance costs are a different matter. Let's have a big cut in those

Did you just wake up from a two year nap? LOL!!!

57 posted on 05/13/2019 7:41:35 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
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.

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.

58 posted on 05/13/2019 7:56:15 AM PDT by DoodleDawg
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To: DoodleDawg
Labor is small component of retail electronics. The labor of a coolie made iPhone for example is $16.00 per $800.00 iPhone. A tiny percent of retail. Textile labor is a much larger percent of retail. I'd guess 50%. So if "sown" in the USA is a goal then textile automation would be key.

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.

59 posted on 05/13/2019 8:03:27 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
You either can't read, can't comprehend the English language, or you're completely stupid.

Globalist???

GFY.

60 posted on 05/13/2019 8:04:01 AM PDT by NorthMountain (... the right of the peopIe to keep and bear arms shall not be infringed)
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