Stocks turned in the typical ranging day, finishing up a little to the positive side.
The notion of a trade war has them spooked, and they are fluctuating with every nuance to the tariff issue coming out of Washington DC.
Leo Gerard, the United Steelworkers President, had an interview with the spokesmodels of financial tv this afternoon. They were rolling out the meme that the US is not competitive in world steel because of the inferior condition of our steel mills.
And he just hammered them into the ground with facts versus memes, both on the competitive condition of US steel production and the dumping of steel by some of the Asian producers. And it was satisfying to see that sort of argument shut down.
The corporate Democrats are acting badly as usual, almost like it is their job to blow elections and alienate their progressive base for the sake of corporate money. Well, they may pick up some seats, only because the GOP is even more tone deaf to the broader public.
Gold and silver had a nice rally off a weaker dollar. I don’t think it was a flight to safety since silver actually outpaced gold. But both metals were just winding up for a rally after the short term trading action pushed them lower.
Non-Farm Payrolls report on Friday.
The various states among the northeastern US governments are declaring states of emergency for a nor’easter heading this way tonight. the winds will not be as bad as the last storm, but this one is bringing a foot of heavy wet snow. I hear the stores were the usual nuthouses today with the pre-storm bread and milk crowd.
Let’s see if the storm affects the trading in NYC tomorrow. I doubt it unless there are major power outages across the area.I have my own generator at the ready.lol.
