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 ...
Nice fringe benefit...excuse to keep interest rates on savings low. Can't let us little folk feel too secure about preparing for the future.
The stock market going down signals that the big guys think that corporations that profit from trade with China will be less profitable. That would imply that they plan on having to absorb some of the tariffs, or that sources they don't control will provide alternatives.
Tom Cotton was on CBS "news" this morning. (they do more news, but they're still openly hostile to our values). He explained why the tariffs are necessary and that it's a price we have to pay because China has been so dishonest about trade.
Not yet.
EXACTLY what I recommended in #53.
Get your head out of your ass.
I've been watching the President and the Congress make small, tentative, tiptoeing steps in the direction of reducing income taxes and regulatory compliance costs. Better than nothing … certainly better than Hillary's whole-hog Marxism … but quit deluding yourself.
Ok, why are tariff increases mutually exclusive from reducing taxes and regulation WHY CAN'T IT AL BE DONE AT THE SAME TIME? Pay attention because this is what is being done now, tariff increases and income tax/reg reduction.
With a 4,000% tariff, legal consumption of those items would decline precipitously to about zero. Black markets would develop to smuggle screens in, and those would become the only screens that were consumed. The lack of supply would begin to cost US business in productivity as their old monitors wore out they would repair them rather than replace them. It would be like automobiles in Cuba, with people using ancient technology because the government had made the modern tech illegal. But very few people would buy an $8,000 computer monitor.
You’re still a cretin, but if you keep reading my posts you may slowly grow more intelligent. Drink from my fountain of knowledge oh ignorant one. Is your real name Navarro by any chance?
I’ve been watch traitors sell out the USA to make a quick Judas buck for 3 decades.
What would happen is over the coarse of the next year capital investment in factories would increase dramatically. Factories would spring up and TV's would be produced in the USA efficiently and cost about OVER THE LONG TERM the same as the used to when slaves made them. DOMESTIC COMPETITION WOULD WORK THE SAME WAY AS GLOBAL FAUX COMPLETION.
And yet here you are.
I never said they were.
WHY CAN'T IT AL BE DONE AT THE SAME TIME?
Who said they can't? Certainly not me. Quite the contrary, in fact.
Quit being a jerk.
I’ve been watching traitors turn the USA into an over-taxed, over-regulated socialist hellhole to slake their own power-lust since the late 1960s when I first started paying attention.
That doesn’t give the government the right to allow, by dropping protective tariffs, the off shoring of the USA’a means of production. No left wing shenanigans can/could ever justify that.
Textiles actually have returned to the extent they’re able at this point. There’s a new plant here in NC that has had to resort to a $250 sign on bonus and a $1,000 retention bonus after three months for basic mill employees on the night time 4 days on, 4 days off ten hour shift with paid vacation and group healthcare plan. I’d imagine that a lot of people would find a regular paycheck with benefits while having days free appealing, but they’re struggling to hire enough people.
You’re too stupid to insult. Buy an economics textbook if you think that US workers can produce TVs at the same cost as “slaves” as you put it. If that could have happened, it would have happened. Maybe we could import the robots, but US workers will not be making monitors ever again. Back to the meth-pipe for you.
Who said that? The small increase in price using US labor will be offset by decreased energy and shipping costs. But the cost will still be slightly more expensive for domestic made TV's. But the payoff is lower social costs. Lower tax burden and the huge secondary economy that manufacturing creates. It makes us prosperous as a nation.
I’ve always found that buying products from Chinia is more expensive because it is crap and has to be replaced after it breaks.
I had an Americana made orbital sander for 25 years. It finally died a few years ago. I am on my third China(Harbor) Freight sander....
The sky is falling!!!
Yes, closed economies are so much happier and more prosperous and efficient than open ones.
I especially like how your tax hike results in lower taxes. It’s like magic! I just can’t figure out why the stock market is in free fall down 5% since Trump cocked this up so furiously and still plummeting. Oh right, the globalists, are scoring political points by manipulating the market. That makes so much more sense than that these maneuvers are a massive economic drag.
We have totally free trade inside the USA between the 50 states. If that is not of freedom for you then by all means go to China and live there.
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