Indexes were coming off a massive week and entered this past week somewhat overbought, so certainly were due for some sort of rest. For the week, the S&P lost 1.2%, and the NASDAQ 1%. While most of this political mumbo jumbo stuff is not really market moving for more than a hot minute while the algorithms scramble to react, it is worth noting the movement in key economic positions. To that end:
Lawrence Kudlow of CNBC fame has been officially named as director of the National Economic Council to replace Gary Cohn, who resigned earlier this month. Kudlow has supported Trump’s tax cuts but opposes tariffs.
Trump said Wednesday his administration will seek to trim the U.S.’s trade deficit with China by $100 billion. The announcement follows comments the previous day that he wants to impose up to $60 billion in tariffs on Chinese goods.
Since “trade wars!” have been on everyone’s tongue the past few weeks, I found this infographic pretty darn cool. It shows the top export of every country – click on the graphic to expand it. Would you have guessed France’s top export is aerospace? As interesting, globally you see so much focus on natural resources or food…Continue reading