OT - Dow plunges 1,175 - worst point decline in history

[Tony T]

https://www.reuters.com/article/us-u...-idUSKBN1XH0TG

China says it has agreed with U.S. to cancel tariffs in phases
BEIJING (Reuters) - China and the United States have agreed to cancel in phases the tariffs imposed during their months-long trade war, the Chinese commerce ministry said on Thursday, without specifying a timetable.

An interim U.S.-China trade deal is widely expected to include a U.S. pledge to scrap tariffs scheduled for Dec. 15 on about $156 billion worth of Chinese imports, including cell phones, laptop computers and toys.

Tariff cancellation was an important condition for any agreement, ministry spokesman Gao Feng said, adding that both must simultaneously cancel some tariffs on each other’s goods to reach a “phase one” trade deal.

“The trade war started with tariffs, and should end with the cancellation of tariffs,” Gao told a regular news briefing.

The proportion of tariffs canceled for both sides to reach a “phase one” deal must be the same, but the number to be canceled can be negotiated, he added, without elaborating.

“In the past two weeks, the lead negotiators from both sides have had serious and constructive discussions on resolving various core concerns appropriately,” Gao said.

“Both sides have agreed to cancel additional tariffs in different phases, as both sides make progress in their negotiations.”

He did not give a timeline.

[notsew]

Is anybody here just riding the trade war wave? Sell today, buy next week when resolution gets delayed again?

[Burnette]

It's early but the Dow is up 250 points off of the news.

[fa63]

Not me, but I am sure there are bunch of bots out there doing exactly that (and some individuals too, I am sure).

Originally Posted by notsew

Is anybody here just riding the trade war wave? Sell today, buy next week when resolution gets delayed again?

[jimcav]

Originally Posted by notsew

Is anybody here just riding the trade war wave? Sell today, buy next week when resolution gets delayed again?

I wouldn't know what to try other than a tracking stock for the DOW or whatever, but I bet if you have more knowledge on companies and industries affected you could do individual plays. I've been seeing a lot of zero fee trad commercials on TV for etrade etc so it would be a good time to do frequent buys and sells on trade war news. I'm already nervous enough about equities so don't have eh stomach to sell our mutual funds and try to the trade war surfing...

[Tony T]

NYT: Stocks Are on the Verge of the Best Year Since 1997

Three Federal Reserve rate cuts and a rally in huge tech stocks like Apple have helped lift the S&P 500 by 29 percent so far in 2019.

[Burnette]

Originally Posted by Tony T

NYT: Stocks Are on the Verge of the Best Year Since 1997

Three Federal Reserve rate cuts and a rally in huge tech stocks like Apple have helped lift the S&P 500 by 29 percent so far in 2019.

I was going to wait until after new years to post a year end total, but yeah, it's been a helluva year for the stock market.

What makes it even more remarkable is the hurdles ir had to overcome to get there. Trade war, Brexit, Iran/Saudi Arabia/Turkey/Hong Kong/North Korea...

[PQJ]

Let’s not forget that Fed cut interest rates three times this year.

[Buzz]

My 401k just hit a 24% return for the year. Yuge.

[Blue Jays]

Originally Posted by Buzz

"...My 401k just hit a 24% return for the year. Yuge..."

Terrific news. Awesome to hear.

[MattTuck]

Yay! Profligate government spending, unprecedented central bank money printing and intervention in markets, record debt for governments, corporations and individuals!!!

[likebikes]

what's good for the djia is good for the country, and vice versa.

[Burnette]

Originally Posted by MattTuck

Yay! Profligate government spending, unprecedented central bank money printing and intervention in markets, record debt for governments, corporations and individuals!!!

The world's a terrible place, we get it.

Best advice I ever got was from my father. No matter what the environment, it's your job to find a way to survive in it.

For those who were in the market and even in a simple index fund, they have done mightily well.

[Elefantino]

I believe it was Joel Grey who said, "Money makes the world go around."

It didn't end well for him, though.

[Tony T]

Looks like DOW 30,000 soon, with NAZ 10,000 to follow.