Stock Market looking at a dark day

Discussion in 'Economics & Trade' started by HumbledPi, May 6, 2019.

  1. HumbledPi

    HumbledPi Well-Known Member

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    Stocks are poised to plunge at the opening bell on Wall Street. Yep, he did it again. Trump has threatened to impose new tariffs on China and they're going to fight back. Trump threatened to ratchet up existing import tariffs of 10% on $200bn of Chinese goods sold in the US that have been in place for almost a year to 25%. China has retaliated with $110bn-worth of tariffs on US goods, including agricultural produce such as soya beans, as well as cars, luggage, electronics, housewares and food.

    Stock markets had been lulled into a false sense of security. Hopes for a trade deal and the US Federal Reserve backing away from raising the interest rate have powered financial markets to the highest levels for six months, making them more vulnerable to bad news.

    Remember all those nice gains you made on your IRA CDs? That's all going to be wiped out in coming days.

    https://www.nytimes.com/2019/05/05/business/trump-tariffs-china-trade-talks.htmlhttps://www.nytimes.com/2019/05/05/business/trump-tariffs-china-trade-talks.html
     
  2. Egoboy

    Egoboy Well-Known Member Donor

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    I don't think so... the first 4 months of 2019 have been consistently good... I don't see 1 bad day or week wiping all of that out, unless we have something similar to December (which is always possible with this clown).

    In fact, after the opening bell dive, the DJIA has already picked up 100 pts... It'll likely be a bad day, but not the end of the world.... that came closest to happening on 1/20/17...
     
  3. Natty Bumpo

    Natty Bumpo Well-Known Member

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    [​IMG]
    "Trade wars are good,
    and easy to win!"



    [​IMG]
     
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  4. Spim

    Spim Well-Known Member Past Donor

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    looks like it has already bounced back a bit since opening bell, maybe people should wait till the day ends before making assumptions.
     
  5. Nunya D.

    Nunya D. Well-Known Member

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    Oh, you mean the day when the stocks all finished in the green?

    Stock Market on 01/20/2017
    • Dow: 19,827.25, +94.85, (+0.48%)
    • S&P 500: 2,271.31, +7.62, (+0.34%)
    • Nasdaq: 5,555.33, +15.25, (+0.28%)
    • US 10-year yield: 2.467%, +0.008
    • WTI Crude: $53.18, +1.06, (+2.03%)
     
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  6. Doofenshmirtz

    Doofenshmirtz Well-Known Member Past Donor

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    Remember all the Chinese products you bought 2 years ago? They are in a landfill. While we are buying their crap, they are buying our land. They do not have a monopoly on cheap labor.
     
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  7. Spim

    Spim Well-Known Member Past Donor

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    One thing I will credit Trump for is my intensity of avoiding chinese products for the past 2-3 years where before I honestly never really paid attention to the product origin, I preferred cheaper pricing. Now i'm pretty hardcore about buying usa made products, and i'll admit its not as easy as you think depending on the item.
     
  8. AKS

    AKS Banned

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    TPP?
     
  9. Fisherguy

    Fisherguy Well-Known Member

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    Emperor Trump does whatever he wants. He's already hinting he won't
    leave office in two years, regardless of election results. There is little doubt
    his cult will support him. With weapons, if they have to.
     
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  10. BuckyBadger

    BuckyBadger Well-Known Member

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    All my stocks, bonds, funds, etc. are way up again today. At the rate they are going, I'll be up almost 30K by the end of the day. Looking at a ticker is never a good idea to get an idea of how things are going. Unless you just want the basics. Like looking at a weather map of the world and screaming "It's raining!". It might be raining, but is it really raining where you live?
     
  11. yardmeat

    yardmeat Well-Known Member

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    China wasn't part of TPP. They were crossing their fingers that we'd pull out of it so that they'd have less competition from us.
     
  12. Stonewall Jackson

    Stonewall Jackson Well-Known Member

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    CNN reporting on the stock market for the first time in months.........so I assumed it was down a few hundred points........but it’s good to hear about something other than ‘Russians’ and ‘collusion’ once in a while....
     
  13. AKS

    AKS Banned

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    I know. It was a much better alternative to tariffs to combat Chinese trade practices. But trump is an idiot. He doesn't even know who pays a tariff.
     
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  14. Creasy Tvedt

    Creasy Tvedt Well-Known Member

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    Trump hate fanfiction is the best fanfiction.

    The Orange Man Badniks raise it to levels of S&M sexual fantasy.

    Creepy stuff.
     
    Last edited: May 6, 2019
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  15. Nunya D.

    Nunya D. Well-Known Member

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    Last edited: May 6, 2019
  16. yardmeat

    yardmeat Well-Known Member

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    Sorry for the confusion there. And yep. Hell, he still thinks that trade deficits are actual, monetary deficits and that we'd be richer if we didn't trade with anyone at all. Someone needs to re-take econ 101.
     
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  17. AKS

    AKS Banned

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    I'd hate to have to make my living trying to decipher wtf trump is thinking. It's clear from his tweets that the clown doesn't even know how tariffs work.
     
    Last edited: May 6, 2019
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  18. Doofenshmirtz

    Doofenshmirtz Well-Known Member Past Donor

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    While I am sure he appreciates you looking up to him and calling him your emperor, he doesn't have the following you claim.
     
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  19. Doofenshmirtz

    Doofenshmirtz Well-Known Member Past Donor

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    No thank you. I just had some.
     
  20. HumbledPi

    HumbledPi Well-Known Member

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    Although, if you happened to be wearing a pair of Nike or Addidas footwear, you're probably still wearing them every day. The rubber and plastic used in those brands come right from China. Many of L.L. Bean products are made in China, a fact that made headlines in 2017 after Donald Trump encouraged people to buy their stuff. Levi Strauss jeans? Yep, some are made in China. And that nice iconic red Radio Flyer wagon you kid may have, that's made in China too. If you're one that owns an Apple iPad or iPhone, that's also an import from China.

    Do you know that China owns some of the largest pig farms in the U.S.? Smithfied Foods, one of the largest producer of pork in the world --- right, China owns it.
     
    Last edited: May 6, 2019
  21. AKS

    AKS Banned

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    I think you're right
     
  22. AKS

    AKS Banned

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    No you didn't, although you should have.
     
  23. Creasy Tvedt

    Creasy Tvedt Well-Known Member

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    The darkest days the stock market have experienced under Trump, were those dark days of that big downward spike which began in November of last year, and didn't pull up until Christmas.

    Screen Shot 2019-05-06 at 1.34.27 PM.png


    That's when the Dems took back The House.

    But I'm sure that was strictly coincidental.
     
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  24. HB Surfer

    HB Surfer Well-Known Member Past Donor

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    You frequent the DailyKos often?

    [​IMG]
     
  25. Doofenshmirtz

    Doofenshmirtz Well-Known Member Past Donor

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    Yes. It is a good deal for them and a bad deal for us. Even though I am not a fan of tariffs, I make an exception for these thieves of intellectual property and the timing is perfect.

    You reminded me: A kid shows his dad that he made a phone out of 2 cans and a string. Dad pulls out his Iphone and says "Big deal! This is what kids in China are making!"
     
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