The week has so far had an odd feel to it, as I intimated in yesterday’s video report, and this was reinforced by this morning’s stark divergence between the Dow Jones Industrials and the NASDAQ Composite Indexes. This was preceded by yesterday’s big rally following the imposition of tariffs on an additional $200 billion worth of Chinese goods and services. This was met with a Chinese retaliatory tariff on $60 billion worth of U.S. goods and services going to China.
The market deemed it a positive that the U.S. tariffs on China would only start at 10% rather than the originally threatened 25%. This set off a sharp rally yesterday that stalled somewhat going into the close. This morning, the Dow streaked higher and the S&P 500 held slightly positive, while the NASDAQ Composite and NASDAQ 100 sold off.
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