thependulumswings

Friends

As you know, tariffs are the
Presidents favorite blunt instrument to influence behavior, but markets aren’t
particularly fond of them. The President’s threat to impose tariffs on Mexico
if they don’t become more active/helpful in the immigrant crisis sent stocks
tumbling down.

For
the day, the Dow Jones Industrial Average was down 355 points to finish the day
at 24,814. The S&P was down 37 points to close at 2,752. Gold was up $18 to
trade at $1,310 per ounce, while oil was down $3.33 to trade at $53.26 per
barrel WTI.

The correction that we
referenced earlier in the week continues and trade war headlines continue to
feed the bears. It was a difficult month of May and now we enter the dog days
of summer. Stay tuned, we’ll try to keep you cool and informed over the coming
months.

Have a great weekend
everyone.

Jim