Global markets reacted positively to the latest pause on tariffs for electronic devices.
In Europe, the FTSE rose 170 points (2.14%), the DAX rose 580 points (2.85%) and the CAC rose 168 points (2.37%).
In the latest tit for tat moves between China and the US, China has suspended shipments of rare earth minerals to the US. China is the largest producer of rare earth minerals and 72% of US supplies of rare earths come from China. This will impose some difficulties for US chipmakers.
In the US, the DOW rose 312 points (.78%), the NBI rose 116 points (2.97%), the NASDAQ Composite rose 107 points (.64%) and the Russell small cap index rose 20 points (1.11%).
Very confusing moves with US tariffs over the weekend.
US exempted smart phones and other electronic devices from tariffs. However, Trump administration then stated that separate tariffs will be introduced on these products shortly.
Trump announced that he would be putting tariffs on pharmaceutical imports in the "not too distant future".
US Treasury 10 year bond yield slipped a bit to 4.383%
Oil prices rose - Brent crude is at US$64.93 per barrel.
Precious metal price is down to US$3,210 per oz.
BITCOIN is up to US$84,600.
IMU Price at posting:
2.6¢ Sentiment: Buy Disclosure: Not Held
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