The Five Most Important Things That Happened Today
(and what to do about them)
A Second Day of Rally on Trade Hopes,
as the meeting between Trump and Vice Premier Liu is moved to the White House. This might be the last chance to avoid a 2020 recession. It could lead to a ferocious Monday morning opening, one way or the other. Overnight Dow futures are up 300 points driven mostly by short covering. I’m selling into the rally.
or about 4% per home according to an analysis by Standard & Poor’s. Quite simply, losing the ability to deduct state and local tax deductions creates a higher after-tax cost of carry that reduces your asset value. If you bought a home in 2017, you lost half of your equity almost immediately. The east and west coasts were especially hard hit.
taking west Texas futures up to $54.31 a barrel. The missile assault in the Red Sea is of unknown origin. I’m keeping my oil long and thanking my lucky stars. This is all in the face of a global oil glut.