US Consumer Expectations are Still Running High
$DIA, $SPY, $QQQ, $RUTX, $VXX
- About 2/3rds of Americans see the US economy as Good to Great.
Monday night President Trump’s top trade adviser Peter Navarro said the White House is not planning to restrict foreign investment as part of its trade actions against China or any other country.
The rising headline tensions between the US and its trade partners contributed to the slight dip in consumer confidence, as the Conference Board said its consumer confidence index fell to a reading of 126.4 this month from an upwardly revised 128.8 in May.
The United States is engaged in very public import tariff discussions with major trading partners, including China, Mexico, Canada and the EU.
We here at Heffx-LTN believe that China will fade and the US will have its way in the realignment of trade with China, Canada, Mexico and the EU, which is Bullish long term for America’s businesses, big and small.
And about 67% of Americans see the US economy as good to great.
Notably, the great American work ethic is not gone, it has been eroded by years of anti-business government policies that President Trump and Congress can and will correct.
As an example: Congress and President Trump recently gave America’s small banks and credit unions some much-need though modest relief from the reams of Red Tape stemming from the Dodd-Frank Wall Street Reform and Consumer Protection Act.
There are several more pro-Business bills in the pipeline, passing the measures will give ordinary investors and entrepreneurs some much-needed scope and room for expansion.
Economic growth picked significantly early Q-2 after hitting a soft patch at the start of the year.
GDP (gross domestic product) estimates for the April-June period are as high as a 4.7% annualized rate. The economy grew at a 2.2% rate in Q-1.
Tuesday, the major US stock market indexes finished at: DJIA +30.31 at 24283.11, NAS Comp +29.62 at 7561.65, S&P 500+5.99 at 2722.80
Volume: Trade on the NYSE came in at 856-M/shares exchanged
- NAS Comp +9.5% YTD
- Russell 2000 +8.7% YTD
- S&P 500 +1.9% YTD
- DJIA -1.8% YTD
HeffX-LTN’s US Major Stock Market Indexes Technical Analysis
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