undergroundnewsroom.com
undergroundnewsroom.com April 25, 2018


Markets tumble again as US-China trade threat looms

11 April 2018, 12:42 | Gordon Grant

Horizons S&P 500 Covered Call ETF (HSPX) Rises 1.6% for Apr 5

Dow Jones Industrial Average A Buy in April

The tit-for-tat tariffs being traded between the U.S. and China heavily weighed on investor sentiment.

In Europe, the Stoxx Europe 600 Index fell 0.4 per cent, paring a weekly gain to 1.1 per cent, while The MSCI All-Country World Index fell 1.2 per cent.

Bob Smith, president and chief investment officer at Sage Advisory Services Ltd Co in Austin, Texas, said the markets were going to react adversely to Trump's latest statement. The Dow dropped 2.3 percent Friday and is down 0.7 percent for the week.

The return of market volatility, fears of a trade war and the recent underperformance of some of the major indices' largest components have been a drag on stocks overall.

The Dow fell more than 500 points on Friday, a drop of more than 2%, after President Trump threatened to escalate a confrontation with China over trade.

If the 200 day moving average lines and support breaks at each (2), the descending triangles suggest that the Dow and S&P end up falling an additional 10%.

US President Trump said he is considering tariffs on an additional 100 billion dollars-worth of Chinese imports, and China has warned that it is ready to retaliate.

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In a radio interview Friday morning, Trump said, "I'm not saying there won't be a little pain, but the market has gone up 40 percent, 42 percent, so we might lose a little bit of it".

"We're going to need brand new, bad news on trade for the equity markets to push lower". Only two of the most active US stocks premarket were higher.

Mnuchin said that a stock market correction was normal after such a long stretch of rising prices.

The Dow average, which contains numerous multinational companies including industrial powerhouses Boeing and Caterpillar, swung dramatically this week, with nearly 1,300 points separating its lowest point Monday afternoon from its high late Thursday. Caterpillar fell 3.5 percent. But even though investors are optimistic about the state of the global economy and company profits continue to grow, Nixon said the administration is creating the thing investors hate the most: uncertainty.

Over the course of the day 9,408 shares traded hands, as compared to an average volume of 3,770 over the last 30 days for Horizons S&P 500 Covered Call ETF (NYSEARCA:HSPX).

The yield on the 10-year US Treasury note, which has been steadily climbing as investors' inflation expectations rise, dipped slightly to 2.78% after the jobs report.



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