President Trump’s Tariffs Having Minimal Effect on US Economy

President Trump’s Tariffs Having Minimal Effect on US Economy

President Trump’s Tariffs Having Minimal Effect on US Economy

$DIA, $SPY, $QQQ, $RUTX, $VXX

US President Donald Trump’s new trade tariffs will lop at most a couple of tenths of a percentage point off US growth and add a similar amount to inflation, small stuff for a $19-T economy that is experiencing its 2nd longest economic expansion on record.

Friday, President Trump imposed tariffs on $50-B of imports from China, a move that came on top of hefty duties on steel and aluminum imports implemented at the start of June.

American consumers and businesses have taken the tariffs in their stride and the growing economy has brought in more workers, pushing unemployment down to levels not seen since the 1960’s.

The costs have been manageable so far, with Commerce Secretary Wilbur Ross saying the metals tariff, for example, could add a few hundred dollars to the cost of a car.

Trade retaliation from China has so far been mainly confined to the farm sector, a small part of the overall US economy.

Friday, the major US stock market indexes finished at: DJIA -84.83 at 25090.48, NAS Comp -14.66 at 7746.39, S&P 500 -3.07 at 2779.42

Volume: Trade on the NYSE came in at very heavy at 2.4-B/shares exchanged.

  • NAS Comp +12.2% YTD
  • Russell 2000 +9.7% YTD
  • S&P 500 +4.0% YTD
  • DJIA +1.5% YTD

HeffX-LTN’s US Major Stock Market Indexes Technical Analysis for the Week ended 15 June 2018

Date Symbol Price Technical Analysis Support Resistance
15 June 2018 QQQ 176.56 Bullish (0.37) 153.45  None
15 June 2018 DIA 250.90 Bullish (0.32) 250.46 253.89
15 June 2018 SPY 277.92 Bullish (0.40) 274.38 280.15

America First

Have a terrific weekend

The following two tabs change content below.

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.

You must be logged in to post comments :  
CONNECT WITH