Originally Posted by RunKC:
Not a good outlook this week. Market down already and the December 15th tariff day will have a big impact. Thinking a 5-7% pullback is possible
CNBC’s Jim Cramer said Friday no matter your view on President Donald Trump there’s no denying we’re living in the best labor market in more than a generation.
“You can’t contradict that these are the best numbers of our lives. You can’t,” Cramer, 64, said following the government report showing the U.S. economy created a better-than-expected 266,000 nonfarm jobs in November, with the unemployment rate dipping to 3.5%, matching a 50-year low. Economists had expected the jobless rate to hold steady at 3.6% last month.
“People don’t want to say good things” about the economy, said Cramer, echoing comments he made Thursday evening on “Mad Money,” telling investors: “Don’t let the armageddonists and the negativists and the hucksters scare you away from owning stocks.”
Referring to Trump, Cramer said Friday on “Squawk Box,” shortly after the jobs report was released, “It doesn’t matter whether you hate him or like him, these are real numbers.”
“This is the best number I’ve ever seen in my life,” Cramer said, zeroing in on the unemployment rate. “Fifty years ago, that number was a curse. Now it’s a blessing.” He added, “I don’t see inflation. I don’t see recession.”
Cramer said the strong U.S. job market is going to allow America to win the trade war with China. “The president can walk away from the table with this number.” He added: “In the end, the Chinese are going to have to put jobs here.”
Josh Brown: What Trump’s tax bill means for your money
Washington and Beijing have been locked in a 17-month-long trade war that’s seen both sides put billions and billions of dollars of tariffs on each others’ imports. Negotiators for the world’s two biggest economies are trying to cement a “phase one” trade deal, which was announced in principle in October.
The next round of U.S. tariffs against Chinese-made goods, including smartphones and laptops, are set to go into effect on Dec. 15.
The stock market has been fighting its way higher for months, as positive and negative headlines on U.S.-China trade talks have whipsawed Wall Street on a day-to-day basis. With robust gains Friday on those strong jobs numbers, the Dow Jones Industrial Average was less than 1% from last week’s all-time high — and after a rough start to December, closing in on positive territory for the week.
China on Friday said it will waive tariffs for some soybeans and pork shipments from the U.S., after Trump struck an upbeat tone on progress toward a “phase one” deal on Thursday as the Dow logged its second straight session of gains.
Also on Friday, top Trump economic advisor Larry Kudlow said the U.S. and China are “close” to a trade deal. However, the National Economic Council director stressed, in a CNBC interview, that the president was prepared to walk away if he doesn’t get the terms he wants. [Reply]
Originally Posted by RunKC:
Happy to be wrong! I didn’t sell any of my Apple.
December 15th is scaring the shit out of me though! Gonna be interesting to see what happens with the tariffs
Citibank just raised Apples target to $300.
China and the EU are fucked and we are in control. Just chill and watch China have to come to the table.
They just offered to remove tariffs on our pork and soy. They do have a shortage of both so it is not as big as some people say but they are feeling pain in their economy and we are rocking and rolling. [Reply]
Originally Posted by scho63:
Citibank just raised Apples target to $300.
China and the EU are fucked and we are in control. Just chill and watch China have to come to the table.
They just offered to remove tariffs on our pork and soy. They do have a shortage of both so it is not as big as some people say but they are feeling pain in their economy and we are rocking and rolling.
My anticipation is that China will wait Trump out. I don't know if they can do 2024, but I think there is a 0% probability they come to the table before November 2020. [Reply]
Originally Posted by scho63:
Citibank just raised Apples target to $300.
China and the EU are fucked and we are in control. Just chill and watch China have to come to the table.
They just offered to remove tariffs on our pork and soy. They do have a shortage of both so it is not as big as some people say but they are feeling pain in their economy and we are rocking and rolling.
China owns the largest hog producer/packing company in the United states. They are the worlds largest consumer of pork. Wonder how that works? they put tariffs on a product they own because they still have to export from the US to China??:-) So yeah I'd remove the tariffs too. [Reply]
I'm trying to find a rather safe Trump reelection investment. Nothing looks knock it out of the park appealing.
The BYND noise had kind of gone silent, so I had to take a peek.
That pump and dump played out exactly like many said it would, it just went higher and took a little longer to play out than was expected. I'd say the vegetable heads that bought in late weep, but they probably see it as a donation to the greater good. [Reply]
