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March 27, 2018
The Dow Jumped 669 Points Yesterday, and Continues Gaining 200+ TodayStocks had lost a lot of value due to fears of a trade-war, but yesterday clawed back more than half of the last week's losses. And today's adding more back. The Dow notched its best daily point gain since October 2008 on Monday as fears of tightening global trade restrictions eased and the blue-chip index rebounded from its worst week in two years. I guess the liberal media was praying for big losses today. Shep Smith was probably turgid at the prospect. But they're disappointed. Stocks peered over the edge and decided that they weren't going to drop, at least not yet. The S&P 500 has risen 0.6% to 2674.13, while the Dow Jones Industrial Average has gained 242.91 points, or 1%, to 24,445.51. The Nasdaq Composite has advanced 0.2% to 7,236.83. China is, get this, bowing to pressure and proposing a host of concessions to avoid the tariffs Trump has imposed. So it appears that in trade as in diplomacy, sometimes a firm stance can compel a favorable result. Surprisingly enough. South Korea is also offering concessions. President Trump's aggressive trade policies are forcing some tough customers to cut new deals, with China talking about opening its market to U.S. companies and South Korea nearing a deal to reduce steel exports and buy more American cars. Strongly disagreeing with that notion: The Republican "leadership" on budget negotiations. ... Two other important concessions by China are opening the country to outside financial services company, and -- I can't believe this has been allowed until now -- no longer demanding that companies turn over their intellectual property to China as the price of doing business in China. A bit of caution: China makes a lot of promises it immediately ignores. | Recent Comments
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