Markets

Economic Populism Takes Root - Today's Editors' Picks

By SA Editors' Picks :

Good morning! I'm your curator, Jason Kirsch

Here are today's Editors' Picks:

Chart of the day:30yr Treasury rate

by contributor

Comment of the day, The Heisenberg

The question going forward is whether the pressure on the stock market will prompt Trump to rethink the tariffs, because without Cohn, it's likely that the only thing which could compel the President to reconsider is a sharp downturn in U.S equities. Consider the following from Bloomberg's Michael Regan , out on Tuesday evening immediately after the Cohn story hit:S&P 500 futures have opened down about 1%. That suggests the market's knee-jerk interpretation of Gary Cohn's resignation is that neither he, nor anyone else, was able to convince Trump that unfocused tariffs on steel and aluminum imports are a bad idea. The follow-up headline saying the U.S. is considering broad curbs on Chinese imports and takeovers will add to concerns the apparent easing of trade tensions on Tuesday was a mirage. Investors now face a struggle to determine what the U.S. President is more interested in at the moment: U.S. stocks escaping their recent volatility spasms and returning to record highs, or leveling what Trump has long considered an uneven playing field for global trade. Cohn's resignation suggests the president's priorities may have shifted decisively from the former to the latter.Sound like 1929 ? You betcha!

Image of the day: Wonderwoman

Quote of the day:

You know what makes your heart swift, you know what makes your breath catch your throat, you know what makes your chest tight with anticipation. Go get that! - Sanjay Gupta

Thanks for reading. Please share your 'Editor's Pick' with fellow investors by posting it in the comments.

Have a great day!

Jason

See also Activision Blizzard: The Growth Is Already Priced In on seekingalpha.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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