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Headlines – March 22/18

10-year Treasury yield drops most in 6 months as investors rush to bonds for safety. Read story US congress announces massive $1.3 trillion plan to avoid government shutdown. Read story Mark Zuckerberg had 15 minutes to respond to privacy crisis – he took four days. Read story US added 700,000 new millionaires in 2017. Read […]

Headlines – March 21/18

Texas bombing suspect blows himself up as police close in. Read story Facebook sued by investors over voter-profile harvesting. Read story WhatsApp co-founder who made billions form Facebook now says to delete it. Read story $CAN, Peso surge on report US drops contentious auto demand in NAFTA talks. Read story Mnuchin says US ‘not afraid’ […]

Headlines – March 20/18

Gold flirts with new low for 2018 ahead of Fed meeting. Read story How Facebook made its Cambridge Analytica data crisis even worse. Read story CEO of Cambridge Analytica secretly filmed offering to entrap politicians with bribes and sex workers. Read story Californians fed up with housing costs and taxes are fleeing state in big […]

Headlines – March 19/18

Facebook shares down 4% after enormous data breach. Read story “We want to listen to you.” Austin Tex hit with fourth explosion as police make appeal to bomber. Read story Mueller looking to nail Trump on obstruction, attacks on FBI. Read story The UK and EU agree on terms for Brexit transition. Read story Putin […]

Headlines – March 15/18

Damn the torpedoes – what could take the S&P 500 to 3,000. Read story Trump may fire AG Sessions, potentially jeopardizing Mueller’s Russia probe. Read story Senate votes to roll back Dodd-Frank banking law. Read story Indonesia makes criticising politicians a crime. Read story Stephen Hawking’s latest Reddit post is going viral over its ominous […]

Headlines – March 14/18

Russian spy: UK expels 23 Russian diplomats, freezes Russian assets, suspends high-level contacts. Read story Russia warns Britain ‘should not threaten a nuclear power.’ Read story Visionary physicist Stephen Hawking dies at 76. Read story Pennsylvania House race still too close to call. Read story New Jersey budget would raise taxes on almost everything. Read […]

Headlines – March 13/18

Trump fires Tillerson after clashes, replaces him with CIA Chief Pompeo. Read story Trump considers making media personality Larry Kudlow top economic advisor. Read story Trump blocks Broadcom take over of Qualcomm on security grounds. Read story Russian spy: Russia demands nerve agent sample from UK. Read story Trump’s personal assistant McEntee fired for unspecified […]

Headlines – March 12/18

Altered documents turn up heat on Japanese leader Abe, in cronyism scandal. Read story White House backs arming teachers but not raising age limit for gun buyers. Read story Mueller may delay decision on obstruction. Read story Elon Musk: SpaceX and Tesla alive ‘by the skin of their teeth.’ Read story Schwarzenegger to sue big […]

Headlines – March 9/18

US adds 313,000 jobs in February, but wage gains cool. Read story Canada loses 39,300 full-time jobs, generates 54,700 part-time jobs. Read story Trump accepts offer to meet Kim Jong-un. Read story Trump’s meeting with Kim Jong-un is another pledge to do what no body else can. Read story Oil up after sell-offs amid optimism […]

Headlines – March 8/18

Trump to offer temporary tariff exemption for Canada and Mexico. Read story Steel tariffs are nothing compared to the looming war over intellectual property theft with China. Read story Eleven nations, but not the US, to signTrans-Pacific trade deal. Read story US is calling for $100 billion reduction in bilateral trade gap with China. Read […]

Headlines – March 7/18

Trump’s key economic advisor Gary Cohn resigns. Read story What market players are saying about Cohn’s resignation. Read story Trade wars: US bourbon, juice and peanut butter face new EU tariffs. Read story Fuel for fire: US trade deficit in January hits nearly 10-year high. Read story Man becomes first person convicted of ‘sexism’ under […]

Headlines – March 6/18

Wall St opens higher on signs of North Korea talks. Read story Kim Jong-un vows to write a ‘new history of national reunification’ with South Korea. Read story Bank of Japan’s tough task: navigating the long road toward stimulus exit. Read story UK’s Johnson warns Russia over collapse of spy. Read story 42% of Americans […]

Headlines – March 5/18

Italian election: Populist Five Star and League vie for power. Read story Trump says Canada, Mexico could win tariff exemption if fair NAFTA deal signed. Read story Left behind: Italy’s election is the latest  rebuke for Europe’s flailing centre-left. Read story Oscars: Shape of Water and Frances McDormand rule. Read story NRA posts controversial ‘Times […]

Headlines – March 2/18

Trump: ‘Trade wars are good, and easy to win.’ Read story Here’s what happened the last time the US applied steel tariffs. Read story Canada, not China, will be hardest hit by US steel tariffs. Read story Here’s why this is the most important weekend in Europe’s political calendar. Read story Anti-Putin protests could get […]

Here’s what happened the last time the US applied steel tariffs

While Donal Trump says ‘Trade wars are good, and easy to win,” history suggests otherwise. In March 2002, George Bush gave into lobbyists and slapped on steel tariffs of between 8% and 30% on imported steel. At that time, Bush exempted Canada, and Mexico because of NAFTA, plus a few developing countries. Immediately after those […]

Market update – March 1/18

S&P 500 The S&P 500 opened fairly strong, pushing up to 2731, near our immediate resistance level in the 2740-2760 range.  But then trade war fears took over as Trump announced a 25% tariff on steel, and 10% on aluminum, which pushed the S&P down 72 pts,  finally closing at 2677 , down 1.32% for the day. Immediate Resistance = […]

Headlines – March 1/18

US inflation picks up; weekly jobless rate at 48-year low. Read story Trump says ‘take the guns first, go through due process later’. Read story Putin: Russia has ‘invincible’ nuclear weapons that can ‘reach anywhere on earth.’ Read story World’s biggest ad agency suffers worst stock drop since 1999. Read story Trump defends US steel […]

Month-end close update for S&P 500, US dollar, gold, & oil

S&P 500 As we can see on the following chart, on Monday we hit 2779.60, pretty much bang on the outside target of 2800 for Near-term resistance that we highlighted in our February 20th blog.   Today, we closed the month at 2713, just above what was previous resistance at 2696. If we hit the […]

Headlines – February 28/18

Wall St opens higher on lower than expected GDP. Read story Treasury yields rise as traders view Powell remarks through hawkish lens. Read story May: UK cannot agree the EU Brexit draft. Read story Ghana teacher teaching how computers work – without computers. Read story Dick’s Sporting Goods to stop selling assault rifles. Read story […]

Headlines – February 23/18

Wall St rises as investors wait further Fed guidance. Read story Head of world’s largest hedge fund says US in a ‘pre-bubble phase’ with a 70% chance of recession. Read story Florida shooting: Armed officer stood outside school and did not intervene as 17 killed. Read story China seizes control of Anbang Insurance as chairman […]

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