President Trump’s Tariffs Announced, Market Jumps

President Trump’s Tariffs Announced, Market Jumps

President Trump’s Tariffs Announced, Market Jumps


US stock finished higher Thursday as investors awaited President Trump’s official approval of tariffs on steel and aluminum imports, which he gave just minutes before the close.

The S&P 500 finished with a gainer of 0.5%, closing at its best mark of the day, while the DJIA and the Nasdaq added 0.4% each.

Canada and Mexico will be exempt indefinitely from the President’s proposed tariffs, a continuation of that status was based on their willingness to renegotiate the North American Free Trade Agreement (NAFTA).

From there, indexes bounced around during President Trump’s press conference, which began just 30 mins before the closing bell.

The President signed 2 proclamations that implemented the tariffs on steel and aluminium imports, but exempted Mexico and Canada. President  Trump said he will give other nations the opportunity to justify why they should also not be included, emphasizing that he is seeking “fairness.”

10 of 11 S&P sectors finished in the Green.

Thursday, the major US stock market indexes finished at: DJIA +93.85 at 24895.21, NAS Comp +31.30 at 7427.94, S&P 500 +12.17 at 2738.97

Volume: Trade on the NYSE came in at: 765-M/shares exchanged

  • NAS Comp +7,2% YTD
  • S&P 500 +2.5% YTD
  • DJIA +1.1% YTD
  • Russell 2000: +1.7% YTD

HeffX-LTN’s Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
8 March 2018 QQQ 169.85 Bullish (0.26) 167.28 170.31
8 March 2018 DIA 248.92 Neutral (-0.16) 248.58 252.12
8 March 2018 SPY 273.92 Neutral (0.06) 272.00 275.52


Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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