Apple’s Trump bump | FT Alphaville

Apple’s Trump bump | FT Alphaville

The Trump administration just announced it is going to delay the imposition of 10 per cent tariffs on a swathe of Chinese goods — including cell phones — until December.

Cue the US stock market rallying. The S&P 500 is up 1.42 per cent, the Dow 1.45 per cent and the high-beta Nasdaq 2.08 per cent.

Apple, as a supplier of said cell phones at ludicrously high margins, is up 4.75 per cent so far in early trading.

Which makes Alphaville wonder, if you’re a US voter inclined to vote for a politician who lets markets do their thing, just who are you going to vote for next year?

It’s hard to recall an administration commanding market sentiment on a day-to-day basis like Trump’s does. Not to mention the exploding fiscal deficit.

On the other hand, from the Democrats there’s talk of a Green New Deal, a wealth tax and universal healthcare.

In other words, won’t someone please think of the Von Mises Institute?


Copyright The Financial Times Limited 2019. All rights reserved. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web.

Source link