Entering text into the input field will update the search result below

Daily State Of The Markets: Maybe He Will, Maybe He Won't, And That's The Point

David Moenning profile picture
David Moenning


  • Maybe Trump will impose those nasty tariffs on steel and aluminum.
  • Maybe he won't.
  • And as far as stocks are concerned, that is the point.

Maybe he will, maybe he won't. Impose those nasty tariffs on steel and aluminum, that is. And that's the point as the stock market appears to be figuring out that with this president, a deal isn't a deal until the deal is actually done.

That's right. Just about the time traders were starting to calculate who the global winners and losers would be with the President's wildly unpopular stance on trade, we learn that, hey, he was only negotiating. Such is life with this administration.

On Friday, stocks rallied as it started to become clear that NOBODY liked the Trump Tariffs. As such, the thinking went, maybe the President was merely sending up a trial balloon and would relent before the actual tariffs were put in place. One could hope, right?

Then on Monday, a similar theme played out. Stocks opened lower on fears of what a trade war with not only China, but also the EU, Canada and Mexico might look like. Before you could blink, the Dow was down 150 points and it looked like the bears had found a new raison d'etre.

However, then the tweets began to surface Monday Morning...

We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs. Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed. Also, Canada must..

- Donald J. Trump (@realDonaldTrump) March 5, 2018

...treat our farmers much better. Highly restrictive. Mexico must do much more on stopping drugs from pouring into the U.S. They have not done what needs to be done. Millions of people addicted and dying.

- Donald J. Trump (@realDonaldTrump) March 5, 2018

While the President has remained steadfast in

This article was written by

David Moenning profile picture
David Moenning is founder and Chief Investment Officer at Heritage Capital Research, a Registered Investment Advisor. Heritage is an independent, privately owned, investment management firm located in the Denver area. Mr. Moenning has more than 33 years of portfolio management experience and focuses on a risk-managed approach to capital markets via modernized portfolio development and dynamic adaptation to ever-changing macro environments. Most recently Chief Investment Officer for a $1.3 billion RIA firm.

Recommended For You

Comments (4)

Is this President in over his head? Maybe not. Might just be missing a few essential parts between his ears. No big deal. What could go wrong?
Trump is a business man.
Let him do what he needs to do and show your support and stop listening the the paid fake news media.
Disclosure: I’m Canadian
There have been many questionable situations regarding trumps actions but I do believe trump is making the hard Decisions to make America competitive and great.
Have a little faith and support.
If trump ends up making America worse that is the risk he takes.
You guys down south should be more supportive of your leader and ignore the media making record profits and views from these shenanigans.
thkalinke profile picture
Midterm elections. I can't help wondering if Trump/McConnell/Ryan are playing bad cop - good cop, since Trump doesn't have anything to lose compared to house Republicans, along with some Republican senators. Here in Wisconsin, I see our flipflop governor is now extremely concerned about Trump tariffs as part of trying to look like a real leader prior to the fall election.
zito profile picture
"Nobody liked Trump's tariffs" I respectfully submit that your wrong, and I don't think you can count on public opinion (or Paul Ryan) to verse this move.
Millions of people, myself included, understand that China is dumping steel and other products on the world markets, and want changes to our trade policy. Although I don't like seeing the value of my portfolio decline I do want to see China brought to the table to negotiate trade especially intellectual property rights. Steel is really not very important to the US economy, but tech certainly is.
Disagree with this article? Submit your own. To report a factual error in this article, . Your feedback matters to us!
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.