The market trepidation continues. U.S. markets were closed in observance of Easter and the Passover; however all markets in Europe and Asia were down. Let’s discuss…
$1 The prospect of war continues to shake investors across the globe. The chilling warning offered by North Korea for Saturday, April 15, the anniversary of the founding of the republic by Kim Il Sung, still lingers. What’s more, the U.S. has mobilized forces to prepare for preemptive strikes and conducted a show of force in Japan.
$2 As covered yesterday, bank stocks retreated heavily after generally positive earnings. Some of those losses recovered in after hours trading on Thursday evening. It is reasonable to expect the stronger banks to recover, but Wells Fargo may continue to have issues.
$3 President Trump has pivoted back to health care reform, signaling to pundits that tax reform policy is nowhere near completion. This is a disappointment to businesses hoping for a simplified corporate tax structure. It might be a long summer for those expecting tax policy reform, specifically.
Happy Good Friday and Passover!