Latest figures show U.S. farmers taking big hit from Trump trade war with China–just what the U.S. economy doesn’t need
A U.S. economy facing the possibility of a slowdown sure doesn't need troubles in the Farm Belt. But that's exactly what the farm sector is seeing. New figures from the U.S. Department of Agriculture show that farm income in 2018 was about 50% of what it was in 2013....
The drop in job openings worries me more than an inverted yield curve
The Dow Jones Industrial Average closed down 800.49 points today, or 3.05%; the Standard & Poor's 500 finished 2.93% lower; and the NASDAQ Composite lost 3.02%. One reason for the plunge was an intraday inversion in the Treasury yield curve with the yield on the...
Market rallies: Nothing matters but tariffs
Just in case you were wondering: Nothing matters to the stock market except tariffs. I think today's trading proves that. This morning the Trump administration announced that it would delay new 10% tariffs on $300 billion in Chinese goods set to go into effect on...
People’s Bank signals its goal of an orderly retreat in China’s yuan, and markets recover–somewhat
Stocks rallied today on signs that the People's Bank intends to deliver an orderly drop in China's currency. This morning the yuan traded slightly above the critical 7 yuan to the dollar currency band. And the bank said it will sell $4.2 billion in yuan bills in Hong...
Trick or Trend: Have the new China tariffs reset the Powell put?
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Friday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. Today,...
Trump’s new round of China tariffs freaks out financial–especially bond–markets
So much for any hopes that the resumption of U.S-China trade talks would put an end to the tariff war in anything like the near term. The new round of talks only began on Wednesday, was adjourned after a day, and was scheduled to resume in Washington in September....
President Trump bashes China as trade talks resume
At the least the timing seems odd. Unless, of course, you believe, as President Donald Trump may, that China and its President Xi Jinping can be bullied into a trade deal. Speaking with reporters outside the White House as he headed for Jamestown, Virginia, Trump...
Caterpillar earnings miss big, drag on industrials and Dow
Caterpillar (CAT) reported second quarter earnings this morning of $2.83 a share, well below the $3.11 a share expected by Wall Street analysts. And then, to make the future as grim as the present, Caterpillar rearmed its earnings guidance for the fiscal 2019 year of...
President’s remarks remind markets there’s still a trade war going on
At a cabinet meeting today President Donald Trump wanted to remind everyone that he could still impose additional tariffs on Chinese imports if he wants. The President also expressed impatience that the truce in the trade war with China hadn't yet resulted in a pickup...
Changes in China’s trade talks team likely mean deal, if any, later rather than sooner
For this new round of U.S.-China trade talks--with no schedule for the first meeting yet in place--the Chinese have shaken up with negotiating team by adding Commerce Minister Zhong Shan, regarded by some White House officials as a hard-liner, to Chinese Vice Premier...
Well at least they didn’t lose the phone numbers–U.S. and China trade negotiators speak by phone
Still no schedule for a resumption of face-to-face trade talks more than 10 days since President Donald Trump and President Xi Jinping agreed to resume trade talks the Osaka G20 meeting. But the two sides did talk by phone on Tuesday. No mention yet of a time table...Jim’s Stock Alerts
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