There are days where you feel like the world is just slapping you in the face. This week some of those dealing with a Senate hearing you have may vaguely heard about (ugh) are likely feeling that way as are, I suspect, Elon Musk fans and I still cannot even think about my wounded 49ers, but I think this guy really gets the award for a rough one right in the face.
The Markets
Equities
Speaking of things not going as one might hope, as we close the books on the September quarter, the major market indices ended with a bit of a whimper as they mostly headed lower this week. Let's review the blow by blow of the last few days.
Monday, the Dow Jones Industrial Average and the S&P 500 closed in the red and the Nasdaq closed flat on the news that China canceled the trade talks that were scheduled for this week. Given that China's leader is not facing any election, ever, it stands to reason that the nation would do what it can to apply additional pressure to America's leadership with an impending election that could alter the balance of power. This trade war/skirmish/campaign/scrimmage is unlikely to end anytime soon or easily given that both sides think they have the stronger hand.
Tuesday was a repeat of Monday, with the Dow and S&P 500 losing additional ground while the Nasdaq gained slightly, up +0.2%. Wednesday, the Federal Reserve raised rates as expected and removed a key phrase, "accommodative policy", from its traditional statement. Stocks had been higher prior to the announcement but dropped after its release, with the S&P 500 closing down -0.3%, the Dow down -0.4% and the Nasdaq down -0.2%.
Thursday, the S&P 500 broke its 4-day losing streak, gaining +0.3%, the Dow up +0.2% and the Nasdaq
