No rally here!
EDITOR'S NOTE
Okay, so you've got Larry Kudlow and China's vice premier out there dangling red meat* to the market...and basically getting shrugged off.
Mr. Kudlow was on TV saying "If the talks go well on phase one, there is a chance we can get those December tariffs off," referring to the roughly $150 billion of looming tariffs on Chinese consumer goods that would take place just before Christmas.
That's a pretty big statement! You might expect the market to jump at least 1% on something like that, but no dice. Which either means "no more tariffs" is already priced in (in which case, if the tariffs do happen, watch out), or the market doesn't put much stock in Mr. Kudlow's comments, implying that "more tariffs" are priced in, and Larry is being ignored.
But you also had China's vice premier, Liu He--who was at the White House for the talks two weeks ago--offering "positive signals" late Friday on the U.S.-China trade deal. And still that's not moving the needle much today, although the Dow's 25-point gain is being held back by another sharp selloff in Boeing. The Nasdaq is up a decent--but still not outsized--0.75% as I write this.
So, maybe I'm not the only one starting to tune out all the China trade talk, but I'm still surprised the market isn't more sensitive to all this today.
We'll have more on that, the latest with Boeing (and collateral damage to Southwest--with a big analyst warning today), another opioid settlement, the Mack Truck strike now (and yes, it's a trend), the "cloud crash," and why expired food is showing up on Amazon, all coming up on the show today.
See you at 1 p.m.!
Kelly
*I'm still worked up about this story from a few weeks ago: "Public health officials for years have urged Americans to limit consumption of red meat and processed meats because of concerns that these foods are linked to heart disease, cancer and other ills. But on Monday, in a remarkable turnabout, an international collaboration of researchers produced a series of analyses concluding that the advice, a bedrock of almost all dietary guidelines, is not backed by good scientific evidence."
You know how many weeknight dinners I could have cranked out if I weren't trying so hard to avoid using ground beef??! So, to heck with it. I made a delicious lasagna this weekend, using ground beef, and I'm finishing up a steak** Chipotle bowl as I write this. Once again, misled by "research." I'm amazed that health and fitness magazines--which basically just regurgitate all of these "eat this, not that" findings--still credibly exist.
**My husband thinks I should mention the fact that I'm pregnant here, before I get too carried away.
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