Category Archives for "Money"

Dow futures point to 500-point drop at the open after China retaliates with tariff hikes

Trade War is ON!

Let’s see who blinks first.

From the article:

Stocks fell sharply on Monday after China decided to raise tariffs on some U.S. goods as the ongoing trade war between the world’s largest economies intensifies.
The Dow Jones Industrial Average traded down 457 points, while a 2.3% drop in the tech sector pushed the S&P 500 down by 1.5%. The Nasdaq Composite dropped 2.2%.

Source: Dow futures point to 500-point drop at the open after China retaliates with tariff hikes

Trump Blow Up US-China Relations, Trade War Ensues

Trump Blow Up US-China Relations, Trade War Ensues 1

Donald Trump lays down his law by placing increased tariffs on $250 billion of Chinese goods. China will return the favor.

NOBODY wins in a trade war. But Trump isn’t smart enough to know this. It’s just another big fat tax you get to pay when you shop.


Source: Trump Xi trade war: Trump defiant as trade penalties kick in, warns China there is more to come – The Washington Post

Trump Trade Tweets Send Grain Markets Diving to 42-Year Low

From the article:

Soybean and corn futures slumped after tweets from Donald Trump that threaten an escalation of the U.S.-China trade war.

The Bloomberg Grains Subindex Total Return tumbled to the lowest since 1977. The prospect of an end to the crippling tariffs that Beijing imposed on U.S. soy, corn and wheat exports was one of the few positives for American agriculture markets. China’s foreign ministry said that officials were still planning to travel to the U.S. for the next round of trade talks — but was unable to confirm when amid signs that a delay is now being considered.

Source: https://www.bloomberg.com/news/articles/2019-05-06/grains-soy-trump-tariff-threat-to-china-drives-ag-prices-lower

Jobs Up 263,000 in April 2019, Unemployment Falls to 3.6%, a 49-year Low

From the article:

WASHINGTON (MarketWatch) – The economy generated a stronger than expected 263,000 new jobs in April, helping to drive down the unemployment rate to a 49-year low of 3.6%. The increase in new jobs easily topped the 217,000 MarketWatch forecast. The jobless rate slid from 3.8% in March to hit the lowest level since December 1969. The average wage paid to American workers rose 6 cents, or 0.2%, to $27.77 an hour. The 12-month rate of hourly wage gains was unchanged at 3.2%. Hours worked each week fell 0.1 hour


Source: U.S. creates 263,000 jobs in April, unemployment falls to 3.6% – MarketWatch

Stephen Moore has withdrawn from Fed consideration, Trump says

From the article:

Conservative economics pundit Stephen Moore has withdrawn his bid to be appointed to the Federal Reserve Board — within hours of boasting that he expected to be easily confirmed by the Senate — President Donald Trump said Thursday in a Twitter post.

Moore’s putative nomination for the central bank had faced intense criticism and scrutiny after Trump said he wanted him on the Federal Reserve board.

Moore, a 59-year-old visiting fellow at the Heritage Foundation think tank, drew fire for his economic views, a messy divorce, a $75,000 IRS income tax lien and past statements that belittled women.

“This is kind of a victory lap for the left because they took me down with a smear campaign,” Moore said in an interview with Fox Business News on Thursday.

Source: Stephen Moore has withdrawn from Fed consideration, Trump says