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Afternoon Note

Mirror of Yesterday

By Charles Payne, CEO & Principal Analyst
5/14/2019 1:28 PM

After a series of tweets from President Trump, the market has stabilized, but the rally feels tenuous.  Still, this is an impressive day on the heels of all the screaming we saw in the past week of trading.

Donald J. Trump

China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing. If the Federal Reserve ever did a “match,” it would be game over, we win! In any event, China wants a deal!

Donald J. Trump

....This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been “forgotten” for many years. Their time is now!

Donald J. Trump

Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now. Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy......

Donald J. Trump

‏....of the tremendous ground we have lost to China on Trade since the ridiculous one sided formation of the WTO. It will all happen, and much faster than people think!

Donald J. Trump

When the time is right we will make a deal with China. My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense. We have to be allowed to make up some.....

Donald J. Trump

Billions of Dollars, and moving jobs back to the USA where they belong. Other countries are already negotiating with us because they don’t want this to happen to them. They must be a part of USA action. This should have been done by our leaders many years ago. Enjoy!

Donald J. Trump

We can make a deal with China tomorrow, before their companies start leaving so as not to lose USA business, but the last time we were close they wanted to renegotiate the deal. No way! We are in a much better position now than any deal we could have made. Will be taking in.....

Donald J. Trump

‏....so that they will be more competitive for USA buyers. We are now a much bigger economy than China, and have substantially increased in size since the great 2016 Election. We are the “piggy bank” that everyone wants to raid and take advantage of. NO MORE!

Donald J. Trump

China buys MUCH less from us than we buy from them, by almost 500 Billion Dollars, so we are in a fantastic position. Make your product at home in the USA and there is no Tariff. You can also buy from a non-Tariffed country instead of China. Many companies are leaving China.....

Reversal

The board market is a mirror of yesterday’s session with utilities lower after being the lone winner.  Technology is leading the way (only one tech name, FFIV, is lower).

S&P 500 Index

+1.15%

Communication Services (XLC)

+1.09%

Consumer Discretionary (XLY)

+1.05%

Consumer Staples (XLP)

+0.85%

Energy (XLE)

+1.83%

Financials (XLF)

+1.35%

Health Care (XLV)

+0.81%

Industrials (XLI)

+1.26%

Materials (XLB)

+1.28%

Real Estate (XLRE)

+0.50%

Technology (XLK)

+1.87%

Utilities (XLU)

-0.29%
 

I have to say; this market has been remarkable.  With that, I still think we could see the rally narrow as the year moves along.


 

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