Stocks soar as Trump pauses some tariffs for talks
www.bbc.com
But Trump also raises tariffs on goods from China to at least 125% "effective immediately".

Stocks have almost returned to where they were 5 days ago after his latest change to the tariffs.

  • just_another_person@lemmy.world
    431·
    3 months ago

    100 points after losing thousands is not “soaring”. That’s like saying “Well I lost my job, my home, and my wife, but I just found $20. Amazing”

    Write a country song about that, MAGA sickos.

    • merc@sh.itjust.worksOP
      10·
      3 months ago

      Yeah, that’s the BBC’s headline. I didn’t like it either, I guess it seems like “soaring” if you’re looking at the 1 day view. If you’re looking at the 1 week view it looks like “recovering”. If you’re looking at the 3 month view it’s more “recovered slightly”.

    • foggy@lemmy.world
      6·
      3 months ago

      Normally it’s called a dead cat bounce (idk why 😿) when the stock market crashes and then has a nice little bump before crashing more.

      It’s people trying to buy the dip, and fat cats pumping and dumping more shares, VCs trying to dump money into stocks to keep it near an attractive number, etc.

      What Trump did here was gave the stock market a line of cocaine during it’s dead cat bounce.

      Soar? Today? Sure. Let’s chat next Tuesday…

      • just_another_person@lemmy.world
        11·
        3 months ago

        Because the news lags. Tomorrow every country will come out in the press full force about Trump’s bullshit and the markets will tank again. It also will take a week or more for people in the US to realize how much their winter Citrus and Avocados cost.

        • foggy@lemmy.world
          2·
          3 months ago

          Everything about the indicators scream overbought:

          RSI is high

          Price is stretched above VWAP

          Riding the upper Bollinger Band

          Only thing still bullish is EMA12 > EMA26, and that’s lagging. Once that crosses, the dump is on.

          And let’s not forget: the Buffett Indicator was already at 1.7 before today’s jump. Normal is 0.8–1.3. We’re deep into ‘correction incoming’ territory.

          So yeah, this bounce? Classic sugar high. The real pain hasn’t even started.

          • just_another_person@lemmy.world
            13·
            3 months ago

            Random person to random person: stop buying into all the “indicators”. It’s bullshit.

            You know what he’s going to do. That’s your best direction. There is no “sailboat upward hook” or “flailing fish” dumbshit charting on this. It’s unprecedented. No charts will help. In fact, stop looking at the charts and play the news. That will actually make you money.

  • wirebeads@lemmy.caEnglish
    26·
    3 months ago

    Still down almost 30% since “Sleepy Joe Biden” gave up power… Oh look, Trumps golfing again.

    • BrianTheeBiscuiteer@lemmy.world
      5·
      3 months ago

      I’d buy him a pound of golf balls if it kept him out of the Whitehouse. He’s WAAAAAAAY more effective when he’s not doing his job.

    • Artyom@lemm.ee
      1·
      3 months ago

      All time high was right before the election at ~45k, and now it’s around 40k, so about 11% down. Not sure where you came up with 30%, but it never even got close to that. A 30% drop would be around 31k, and the lowest it hit was around 37k. We all hate Trump, but don’t just make up numbers for internet points.

  • merc@sh.itjust.worksOP
    19·
    3 months ago

    Can you imagine being a company, or even just a small business owner trying to make long-term plans in this environment?

    Say you run a pest-control business in Texas. Things are going well, so you’re thinking about hiring your neighbour’s fat son to do some work during the summer. Then the tariff chaos starts. Do the chemicals you need for your business get more expensive? You buy them from DuPont, a good American company, but where does DuPont get the raw materials? The tariffs change week to week, sometimes day to day, so it’s really hard to know what your costs are going to be, and what you’ll have to charge. One of your other neighbours, Americans, but originally from Laos, have been good customers over the years, but what if ICE deports them? Your wife’s massage therapist has been snatched twice by ICE now because he “looks Mexican” even though everybody knows he’s Native American.

    And there’s your best buddy who works in propane. You’d think that that would be safe from tariffs, but it turns out a lot of the accessories he sells are manufactured in China. If he loses his job, his wife’s salary as a teacher isn’t going to be enough to keep them afloat.

  • fucktrump@lemm.eeEnglish
    16·
    3 months ago

    There’s probably enough evidence of personal gain from market manipulation and some more felonies. If only he hadn’t appointed everyone who could do something about it. What a fucking con man