Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
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The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
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"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
Standout gains in large technology stocks like Amazon.com and Apple show just how much the sector is disconnected from the sluggish growth on the rest of Main Street, one notable strategist said in a report titled "Occupy Silicon Valley."
The tech stock rally "could ultimately lead to populist calls for redistribution of the increasingly concentrated wealth of Silicon Valley," Bank of America Merrill Lynch's chief investment strategist, Michael Hartnett, said in a report released Monday.
The report's title draws parallels to the 2011 "Occupy Wall Street" protest against the wealth of the largest U.S. financial institutions which arose out of the financial crisis. Today, more and more people feel left behind economically despite the massive expansion of global business, especially for digital technology firms, the report implies.
Google parent Alphabet and Apple also have a combined market capitalization of $1.45 trillion, greater than the combined $1.31 trillion market value of euro zone and Japanese financial stocks, Hartnett noted.
Big tech stocks have accounted for 40 percent of the S&P 500's run to record highs this year, according to Goldman Sachs. The index Monday was at 2,391, within 1 percent of its all-time high hit last Tuesday.
BofAML's Hartnett estimates if the S&P 500 hits 2,630, the ratio of
The disconnect between an S&P 500 led by technology and the global economy "is ultimately unsustainable," Hartnett said. Against the forces of economic nationalism, he recommends investing in resources, banks, the euro
US labor participation rate (left) versus historical and projected equal weighting of US bonds and stocks
Source: BofAML Global Investment Strategy