Hello traders everywhere. Do you find yourself following President Trump closely on Twitter? I sure do and you probably should too. Reason being, recently it seems that we are one tweet away from disaster or prosperity. Take today, for instance, the market overall was barley in the red after Fed Chair Jerome Powell said "The U.S. economy is in a "favorable place" and the Federal Reserve will "act as appropriate" to keep the current economic expansion on track. He then continued to say "the U.S. economy has continued to perform well overall, business investment and manufacturing have weakened, but solid job growth and rising wages have been driving robust consumption and supporting moderate overall growth.”
And Then we get this tweet from President Trump: "As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great..."
"....My only question is, who is our bigger enemy, Jay Powell or Chairman Xi"?
After that exchange, he shifted his sights to China they unveiled new tariffs. China stated that they will implement new tariffs on another $75 billion worth of U.S. goods, including autos. The tariffs will range between 5% and 10% and will be implemented in two batches on Sept. 1 and Dec. 15.
He started tweeting: "Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far...." Continue reading "Always One Tweet Away"