05.07.19 • -1.65%

May 7, 2019

S&P:  -1.65%*

 

Market Movers

  

 

Near term factors:

  • China Trade Deal 

  • Economic Data

  • Near Previous Highs

 

Long term factors:

  • Federal Reserve economic outlook

  • Global Growth

 

Today, we managed to be down around 2.5% intra-day. This staggering move arose from Trump mentioning tariffs slammed on China due to the delay in an agreement of trade. For years China has been taking advantage of the United states. The market is looking to end the trade war, however that won’t happen until Trump gets his way. These potential tariffs are feared because of the impact they may have on our economy. Todays sell-off seems slightly overdone yet it's not a bad idea to remain cautious. As the week plays on we will continue to watch for something to come of the trade talks with China. Let’s hope there is a deal made so the market can move on. Who knows, this may turn out to be a classic, “Buy the rumor, sell the news” scenario. 

 

*Bloomberg.com

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