China Strikes Back

The stock market is down about 1.8% this morning as fears of a trade war continue to escalate. The Chinese Finance Ministry said they’re going to place tariffs on several U.S. products.

The ISM Manufacturing report for March came in at 59.3. That’s pretty good. The prices paid report was 78.1 which is a seven-year high. Also, construction spending rose 0.1% for February. That’s pretty weak.

Shares of Tesla fell as low as $244.59 this morning. That’s a 52-week low. The stock is about 6% below its high from March 2014. A lot of people rode this one on the way up.

Looking at the broad market, once again, the S&P 500 is testing its 200-day moving average.

Posted by on April 2nd, 2018 at 11:25 am


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