✖ New Tariff Threats from U.S. Spur China Response

Traditionally, the Federal Reserve has refrained from making decisions based on asset prices. Instead, their various mandates and expectations center around economic growth, with a heavy emphasis on employment.

Good morning. Traditionally, the Federal Reserve has refrained from making decisions based on asset prices. Instead, their various mandates and expectations center around economic growth, with a heavy emphasis on employment. So it's refreshing to see Boston Fed President Eric Rosengren dissent from last week's rate cut, citing the near-all-time-high stock market as a reason to refrain from easing measures in the economy. The market isn't the economy, of course, but when people feel wealthier, they do tend to spend more. The dissent is also a good sign that the Fed, dominated by members of academia, are at least looking at the real-time info that traders use too. Sponsored Content "Diversification is for idiots." So says tech billionaire Mark Cuban. And even though the Wall Street Journal and your stock broker preach diversification, history shows the world's greatest fortunes were built by investors who focused their attention on a handful of stocks. Video reveals why your "diversified" portfolio is exposing you to unnecessary risk and which 8 stocks could turn every $10,000 you invest into $118,000. It's Trivia Time! It's Trivia time! Join the fun and win a Trading Tips T-Shirt. Shares of JC Penney are at risk of being delisted for trading under $1 per share. Where did John Cash Penny open his first store? To participate, just reply to this email within the next 48 hours only with your answer. All who answer correctly will be automatic winners and will be selected on Monday, August 12th. #Happytrading Was this email forwarded to you? Get your own! Sign up here. Congrats to last week's winners: Anne W, Tim C, and Michael F Answer: 1939 MARKETS DOW 26,485.01 -0.37% S&P 2,932.05 -.73% NASDAQ 26,485.01 -0.37% *As of market close • Stocks continued to decline on Friday, until a tweet from President Trump about additional tariffs on China sent stocks down about 1 percent instead. • Oil moved higher following a huge drop Thursday, and gold closed in near $1,450. • Cryptocurrencies mostly traded down, but Bitcoin managed a small gain. Today's TOP TIPS New Tariff Threats from U.S. Spur China Response Following a tweet from President Trump on Thursday indicating that an additional 10 percent tariff on $300 billion of Chinese imports to the U.S. would start on September 1, Chinese officials responded. Specifically, the country stated that it did not seek a trade war, but wasn't afraid of fighting one. Countermeasures would be taken should tariff rates go up. This renewal of verbal hostility has sent markets sharply lower. » FULL STORY Jobs Growth Meets Expectations, Unemployment Still 3.7 Percent With markets focused on trade issues Friday, the July nonfarm payroll data came in, indicating that 164,000 jobs were added in the private sector. This matched expectations, and the unemployment rate remained unchanged at 3.7 percent. Job increases were notable in sectors such as healthcare, financial services, and professional and technical services—all areas where high-paying, full-time employment is the norm. » FULL STORY Insider Activity: MasterCard (MA) On Thursday, August 1st, director Lance Uggla bought 1,500 shares of payment processing company MasterCard (MA). The total cost came to $413,000, and increases his total stake to just under 4,700 shares. This marks the first insider buy at the company for 2019, amidst a number of insider sales, most from the Mastercard Foundation, a non-management insider dedicated to charitable works. » FULL STORY Unusual Options Activity: Square (SQ) On Friday, traders bet on a higher price for payment company Square (SQ), following a drop on lower than expected earnings. A number of different options traded on unusually high volume, most expecting a bounce within the next week. One big trade was on the August 9th $70 calls, which saw over 3,200 contracts trade against an open interest of 129, for a 25-fold increase in volume. » FULL STORY IN OTHER NEWS • The United States is no longer the top trading partner with China, as trade tensions rise again. • A hiring freeze at the federal government has led to a surge in temp workers for Uncle Sam. • As home sales slow, rental rates remain strong. • Wells Fargo, in a move to cut costs, asks tech vendors for a refund. • Campbell Soup agrees to sell its cookie business to KKR in a $2.2 billion deal. • In tech, Apple suspends a Siri response program over privacy concerns. • And Amazon plans to kill off its Dash button. • In startups, Babylon Health raises $550 million at a $2 billion valuation. • In earnings, ExxonMobil beats by a penny, but total revenue falls. • Esty shares fall after muted earnings and a trimmed full-year outlook. S&P 500 MOVERS TOP NWL 14.222% FTNT 8.897% SEE 7.728% NBL 7.413% WU 3.461% BOTTOM NTAP 20.222% ANET 10.323% LYB 6.565% HPE 6.153% IPGP 5.93% PFE Quote of the Day Assuming Trump's tweet becomes policy, we'd expect a proportionate reaction from China. That would mean more tariffs on imports from the U.S. We don't think China would shoot itself in the foot with harassment of U.S. firms or sales of U.S. Treasuries - Tom Orlik and Carl Riccadonna of Bloomberg Economics, on the next phase of the trade war Sponsored Content The investing "rule" you should be breaking So says tech billionaire Mark Cuban. And even though the Wall Street Journal and your stock broker preach diversification, history shows the world's greatest fortunes were built by investors who focused their attention on a handful of stocks. Video reveals why your "diversified" portfolio is exposing you to unnecessary risk and which 8 stocks could turn every $10,000 you invest into $118,000.   Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks   › Step #2 - Join Our Premium Advisories: The Next Superstock | Triple Digit Returns | Options Cash Cow   › Step #3 - Connect With The Community: Trading Tips Official Facebook Group   Nothing in this email should be considered personalized financial advice. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment. 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