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Here’s What You Missed 4/1/19

Daniel Chase

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If you’ve had the pleasure of enjoying a game of baseball in your lifetime then you know exactly how incredible the experience is. If you haven’t, assume that I’m going to talk all about it for the next several sentences. When you first walk through the tunnel at a stadium and the field opens up in front of you, it’s almost too beautiful for words. Before you sits a beautifully crafted diamond with green fields as far as the eye can see.

If the sights aren’t enough, the smells of hot dogs grilling, peanuts and crackerjacks hot and ready to enjoy. Grab a polish sausage if that’s your vibe, it doesn’t matter. Once you’ve taken your seat, you soon realize that the people around you instantly become family for the next nine innings. That is, unless you’re rooting for the visiting team, then you’re dead as a doornail. 

Let’s play ball, here’s what you missed in the news over the weekend. 

Leave Biden Alone 

There are certain people the media covers quite often because of their inclinations to say racist things or make women feel uncomfortable, but there stands to be a select few that have managed to stay out of the negative spotlight. Former Vice President Joe Biden is one such person who has given off the never-hurt-a-fly vibe. Biden may or may not announce his candidacy for the 2020 presidential election, but on Friday, Lucy Flores, Nevada’s Democratic nominee for lieutenant governor in 2014, came forward and said that Biden made her feel uncomfortable when he was weirdly physical at a campaign event. 

“Neither then, nor in the years since, did he or the staff at the time have an inkling that Ms. Flores had been at any time uncomfortable nor do they recall what she describes.”

Bill Russo, spokesperson for Joe Biden 

Melania Trump, Everyone 

I don’t know what you’ve heard about First Lady Melania Trump but I’m here to tell you that she’s a stand-up individual. Actually, to be fair other than her debacle with decorating the White House with red Christmas trees during the holiday season I’m not really sure what she’s been up to. According to recent reports, First Lady Trump’s “Be Best” program, a program designed to focus on major issues facing children today, encouraging them to be best, is doing quite well. My only issue that how can someone “be best,” wouldn’t it make sense to “be the best” or “be one’s best?” 

I digress, Melania announced over the weekend that she’s now working the Interagency Working Group on Youth Programs, an organization founded under President George W. Bush. 

“When Mrs. Trump was made aware that there is an existing mechanism in government that convenes 20 agencies that focus on youth-specific programs, she saw that as a real opportunity to bring their good work to the forefront and ensure that those programs aligned with Be Best get the attention and focus they deserve.”

Stephanie Grisham, First Lady Trump spokesperson 

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Trade Talks Fail, What’s Next For The Market?

Jon Phillip

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trump tariff china

The trade war between the United States and China has probably been the biggest economic and diplomatic development since the turn of the year. Although the world’s two biggest economies were locked in talks for months over a new trade deal, it all unraveled quickly.

This happened when US President Donald Trump stated that the Chinese went back on their word. He then imposed tariff hikes on Chinese goods last Friday. The tariffs were raised to an astonishing 25% on goods worth $200 billion. Although Trump might believe this might bully the Chinese into submission, many experts believe that might not be the case.

Difficulty in Completing Deal

The President had imposed these tariff hikes right before the Chinese delegation was supposed to show up at Washington. This was for which many had believed was going to be the last round of talks. However, experts now feel that the escalation of tensions between the two countries following the latest developments will make it difficult to reach a deal that could be considered a win for the US. As soon as the tariffs kicked in, Beijing announced that it was looking at countermeasures as well. However, there were no specifics on the nature of these measures.

Last year, the two nations had been embroiled in a damaging retaliatory tariff war and it could lead to a protracted trade war, if the Chinese decided to resort of the same tactics. The Chinese delegation is going to be in Washington this week to engage in another round of talks but it is believed that a binding trade deal is unlikely to be signed.

Is A Trump Win Likely?

One of the biggest reasons why the deal might not be signed anytime soon is perhaps the fact that the US President needs to be able to claim it as a win for himself. The President has staked his personal weight behind a favorable deal for the US. But with every passing day, it is looking increasingly unlikely that it is going to happen.

If that is to happen, then China’s entire way of doing business will need to change. This is starting at intellectual property theft and expands to technology transfers by force from US companies. If those things are not part of the deal, then it would not be the sort of deal that can be claimed as a win for the US. It doesn’t help that today, China came in with its own tariffs. China will raise tariffs on $60 billion in U.S. goods, the Chinese Finance Ministry said Monday.

And in true Trump fashion, the U.S. may not be done retaliating. The U.S. President has threatened to put 25% tariffs on $325 billion in Chinese goods that remain untaxed. The president has signaled he is content leaving the duties in place, arguing they will damage China more than the U.S. What are your thoughts?

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Can 102 Words Really Impact Stock Prices?

Joe Samuel

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In short, the answer is yes.  We’ve witnessed, first hand, this week how just a few words can drastically impact the stock market.  If you’re just tuning in, at the beginning of the first full week of May, U.S. President Donald Trump Tweeted out a 102-word post that ended up triggering a sell-off costing the global markets around $1.36 TRILLION…with a “T”!

The “Trump Tweet” expressed that he would once again increase tariffs on Chinese goods by the end of this week. What followed has been a shock to the global markets with futures pointing at dramatic declines every day this week.  Though some say that the decline are all but a speed bump, it still hasn’t helped the fact that this drop is one of the worst seen all year. People like Kerry Craig of JPMorgan Asset Management think that a trade deal can still be reached.  The expectations, however, have been readjusted to reflect a more long-term time horizon.

Eyes Turn Toward The Second Half Of The Week

Other analysts like Oanda Asia Pacific’s Jeffrey Halley feel that investors are prudently “lightening their loads.” Halley said, “My feeling is that investors are lightening their portfolios as a precaution.”

All eyes are on the second half of this week.  As we reported on May 7th, Vice Premier Liu He, China’s top trade negotiator will be heading to the US to talk trade this week.  

“Liu will be in the U.S. from May 9-10. The invite comes from both the U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.” Regardless of what “will happen,” what has happened thus far has been an emotionally charged & very fragile global market. As this story develops we will continue to follow with more updates.

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Chinese Negotiators To Visit US As Tariffs Trigger More Concerns

Jon Phillip

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trump like a boss china

Vice Premier Liu He, China’s top trade negotiator will be heading to the US to talk trade this week.  The two countries have been at odds for months now with China trying to leverage the current US tariff situation. Of course, the US has not helped things either by continuing to increase tariffs on Chinese goods. 

Liu will be in the U.S. from May 9-10. The invite comes from both the U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. The markets took a hit on Monday after U.S. President Trump explained that he was not pleased with the speed of discussions and that he planned to raise tariffs by the end of the week.  Chinese authorities initially considered delaying talks in light of this.

What’s Next For China & The U.S.?

Both Mnuchin and Lighthizer were concerned after it was evident that talks weren’t making progress.  This was during a visit to Beijing just last week. Over the weekend, China sent a new draft of an agreement that outlined a pullback on certain language on several issues.  These issues had “the potential to change the deal very dramatically,” according to Mnuchin.

According to reports from the Global Times newspaper, China was prepared for other outcomes to the deal with the U.S. This also included a temporary breakdown. Furthermore, China had also planned to continue talks even if the U.S. decided to raise tariffs. Of course, time will tell but now we must see how the markets will react to these new developments coming from China.

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