Friday, June 1, 2018

The Market, Energy, And Political Page, T+1, Page 2 -- June 1, 2018

T+1: "everyone" agrees that Boeing and Deere will be impacted most by the Trump tariffs on steel and aluminum. One full day after the Trump administration announced the steel and aluminum tariffs:
  • Boeing Airlines: up 0.8%; up almost $3/share
  • Deere: surges! Up over 2%; up almost $3.50/share
T+1: "everyone" agrees that Apple will be crushed with this new Trump trade war. AAPL shares closed at an all-time high today.

T+1: "everyone" says a trade war will kill the Chinese companies and that will affect US investors. Alibaba (BABA) surged over $6/share today.

Today's news:
  • aide to North Korean's Kim Jong-Un visits Trump in White House; first time in 20 years such an event has occurred, apparently
  • NOKO-USA summit to denuclearize Korean Peninsula; summit to end Korean War is back on
  • incredible jobs report released today -- perhaps the best jobs report in twenty years
  • wage growth greater than forecast
  • Italy might be putting together a government
  • AAPL shares closed at an all-time high
  • and so much more
  • and CNBC's top "concern": did President Trump "break" federal rules by tweeting, "I look forward to today's job numbers [which will be released in about one hour]." I can't make this stuff up; CNBC is beginning to look more and more like MSNBC
  • and, unlike what we saw during the Obama administration, we won't see any "news dump" after the news cycle ends today
Auto sales: Ford and Fiat Chrysler had a huge month (May, 2018).

EV auto sales: data is starting to be populated. Tesla reports. Impressive. 

Jobs: I think it was about a year ago that Obama apologists said that Trump's policies would kill the labor market. Every month pundits have wondered where all these workers are coming from. Every month, another 200,000 jobs are added. Where are all these workers coming from? Today, expectations were for 190,000 new jobs which would have been an incredible report but it was even better than that: 230,000 new jobs. Unemployment among African-Americans at all-time low. I believe. At least since the days of Thomas Jefferson, I suppose. I don't know, just saying. But labor force participation remains flat at 62%. I would love to see an analysis why the US can keep adding 200,000 new jobs each month -- month after month -- and pundits about a year ago started saying this was impossible -- where are all these workers coming from? And yet no analysis. Lots of talk about a Trump tweet, but no analysis. Talk about lazy journalists or business journalists with no intellectual curiosity.

Jobs: by the way, there is an explanation why 200,000 jobs are being filled each month; I've talked about it before.

Off the net: I'll be off the net for awhile. Family commitments. Mostly swimming with Sophia. Close to one hundred degrees here in north Texas.

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