While the first 35 seconds of the below may touch a nerve (although, it is true that Huawei is more advanced in its 5G technology than is the U.S.), you should appreciate the remainder. Although, depending on your preconceptions (if any), you may need to separate the message from the messenger:
Sunday, May 26, 2019
This Week's Message: From Fall Guy to Hero??
Ironically, the President's fall guy (wrongly-accused in my view, btw) for last year's market correction, Fed Chair Jerome Powell, may end up being his savior (albeit temporarily) based on how things are presently trending.
Friday, May 24, 2019
This Morning's Log Entry
5/24/19 Premarket:
Equities futures are rallying this morning on Trump's comment that a trade deal will come quick with China because "thousands of companies are leaving their country". China, on the other hand -- while this morning China's Ambassador to the U.S. did say that they're open to further talks -- isn't sounding quite as optimistic a tone. The Ambassador also said that China will be responding with countermeasures to the U.S.'s blacklisting of Huawei, and the latest message from Xi (and the state media) to the Chinese people is to hunker down and look for substitutes to the U.S.-branded goods they currently enjoy.
Equities futures are rallying this morning on Trump's comment that a trade deal will come quick with China because "thousands of companies are leaving their country". China, on the other hand -- while this morning China's Ambassador to the U.S. did say that they're open to further talks -- isn't sounding quite as optimistic a tone. The Ambassador also said that China will be responding with countermeasures to the U.S.'s blacklisting of Huawei, and the latest message from Xi (and the state media) to the Chinese people is to hunker down and look for substitutes to the U.S.-branded goods they currently enjoy.
Thursday, May 23, 2019
Today's Data Releases: The Good and The Bad
The good:
- Jobless claims came in this week at 211k. That's really really good! Continues the longest streak in history below 300k!
- New Home sales for April came in at 673k, which is good, but a bit below expectations. However, the two prior months numbers were revised by a total of 39k higher; that's really good!
The bad:
- The PMI (Purchasing Managers Index) Composite (includes manufacturing and services) FLASH (preliminary read) for May came in at a barely expansionary 50.9 (50+ denotes expansion, 50- contraction); that's bad!
Brief Commentary on Today's Selloff (video)
Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:
Wednesday, May 22, 2019
Latest Log Entries: Political Miscalculation
5/22/19 Wednesday
Monday saw the market lower on the U.S.’s blacklisting of Huawei, Tuesday saw the market bounce back, and some, on the U.S.’s temporary, and albeit very slight, about face on the blacklisting of Huawei. Wednesday saw the market lower on news that the U.S. is considering denying the sale of U.S. components to a number of Chinese tech companies. We’ll see what Thursday holds, futures are down notably as I type…
Monday saw the market lower on the U.S.’s blacklisting of Huawei, Tuesday saw the market bounce back, and some, on the U.S.’s temporary, and albeit very slight, about face on the blacklisting of Huawei. Wednesday saw the market lower on news that the U.S. is considering denying the sale of U.S. components to a number of Chinese tech companies. We’ll see what Thursday holds, futures are down notably as I type…
Tuesday, May 21, 2019
Brief Commentary on the Latest Action (video)
Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the wheel to the left of the YouTube icon to adjust:
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