WTF Just Happened?
Dow Futures just suddenly exploded higher (BYND-like), only to tumble rapidly back down… for what appears to be no good reason for now…
Some chatter that this is algos picking up on CNBC’s Kayla Tausche saying that “Trump is open to delaying or halting the 10% tariff on 9/1 if China were to take action between now and then” – which is old news, and perhaps explains why the market is rapidly reverting lower.
As I just reported on @SquawkCNBC:
– USTR planning notice in Federal Register w/ tariff details “soon”
– Sr admin official tells me expectation is tariff will apply to goods that arrive in US on Sept 1
– SAO says POTUS willing to shelve if China takes positive action
— Kayla Tausche (@kaylatausche) August 2, 2019
This is tautological. Of course he would not tariff if China acted according to his wishes.
But this seemed to sum things up well…
THANT CNBC REPORT IS MEANINGLESS
— Trading News (@4xInsight) August 2, 2019