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Apple Hits 52-Week High on Solid Service Revenues, iPhone ASP


https://www.zacks.com/stock/news/318693/apple-hits-52week-high-on-solid-service-revenues-iphone-asp
Despite tariffs and “trade war” fears, corporate profits and other measures of economic activity such as retail sales, point continued, strong growth. And while some bank metrics appear to be decelerating (eg: real estate loans, auto loans), the economy had no trouble expanding when the broad measures of bank credit were growing very slowly last year and earlier this year. Perhaps more importantly, with government spending accelerating, it could be reducing the need for the households to take on more debt.

U.S. Moves Toward New Tariffs on China Despite Fresh Round of Trade Talks

https://www.wsj.com/articles/u-s-mo...despite-fresh-round-of-trade-talks-1534798515
Have the markets discounted the negative effects of tariffs at least from the point of view of growth? (They have not discounted the inflationary effect, in my view.) This story came out on Monday, but was ignored as investors appeared to focus on Trump’s comment about the Fed’s rate hikes. If new tariffs are implemented it will be important to see the market’s reaction. Threats of new sanctions against Turkey last week brought little reaction in the Turkish lira. Maybe it’s too soon to tell, but it’s possible that the markets are already starting to look past the trade war talk.

Oil Markets Are In For A Bumpy Ride

https://oilprice.com/Energy/Oil-Prices/Oil-Markets-Are-In-For-A-Bumpy-Ride.html
It was just a few week ago that the headlines with regard to oil were bullish everywhere. Now they are giving way to a more negative outlook. Even though we have seen some rapid building back of inventories, it’s hard to get too negative with growth so strong and many supply disruptions still a factor. Give it some more time before calling the trend.