Economy

DEVELOPING: Stocks Bounce Back After ‘China Blinks’ on Trade War with US

posted by Hannity Staff - 8.06.19

The Dow Jones Industrial average bounced back in late-afternoon trading Tuesday; recovering from the worst drop in 2019 after China “manipulated” their currency to impact global markets.

“The Dow Jones Industrial Average rebounded Tuesday 300 points in late afternoon trading, one day after the major indexes posted their worst day of the year. China pegged its yuan inside the 7 mark after the Treasury labeled the country a currency manipulator,” reports financial website The Street.

“The Dow Jones Industrial Average, which finished down 767 points in the previous session, was up 302 points, or 1.18%, to 26,020. The S&P 500 rose 1.35%, and the Nasdaq climbed 1.47%,” adds the site. “The move from the People’s Bank of China was seen as an attempt to ease tensions between the world’s two biggest economies as their ongoing trade dispute threatens global-growth prospects.”

Read the full report here.

Original Story: May 13, 2019

The US stock market was rattled Monday morning after China unveiled more than $60 billion on American-produced goods; announcing the new taxes after trade negotiations with the Trump administration stalled in recent days.

“After trade talks broke up later in the day, U.S. officials said they were preparing to expand those tariffs to cover another $300 billion of goods, covering most imports from China,” reports Fox News. “The back-and-forth between the two nations is wreaking havoc in global equity markets, with some investors speculating that a deal may not happen at all.”

“I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!” posted the President on social media.

AMERICA UNLEASHED: Stock Market HITS ALL TIME HIGH, Unemployment at 49 YEAR LOW

posted by Hannity Staff - 9.20.18

The US economy continued to smash records and surpass expectations in September, with new data showing the American unemployment rate at a half-century low and the Dow Jones Industrial Average reaching an all-time high.

According to CNBC, the Dow rose 219 points Thursday with the S&P 500 also breaking its previous record. The President hailed the news on social media, saying “S&P 500 HITS ALL-TIME HIGH Congratulations USA!”

“The Dow Jones Industrial Average hit its first record high since January on Thursday as gains in Apple and a decrease in trade fears lifted the 30-stock index… The Nasdaq Composite also rose 0.5 percent,” writes CNBC.

The stunning economic data may spell disaster for Democrats hoping to retake Congress this fall, with House Minority Leader Nancy Pelosi vowing to repeal the ‘GOP Tax Scam’ should her party win big during the midterm elections.

Read the full report at CNBC.

BREAKING NOW: Stock Market APPROACHING ALL TIME HIGH, Could Break Record Any Moment

posted by Hannity Staff - 6.11.19

The United States stock market approached its al-time high Tuesday; with investors and industry insiders saying it could smash previous records at any moment.

“The next big test for the stock market will be whether the major indexes can break through all-time highs, just a short distance away,” reports CNBC. “Stocks have rallied on expectations that the Fed should be cutting interest rates in the near future, and that President Donald Trump would stand down from his threat to put tariffs on Mexico, as he did on Friday. The Dow Jones Industrial Average and S&P 500 are both up more about 5% in June. The Dow is up for six-straight days and futures pointed to another big gain Tuesday.”

“Good day in the Stock Market. People have no idea the tremendous potential our Country has for GROWTH – and many other things!” posted the President earlier Tuesday.

The stock market surge comes just days after President Trump announced a last-minute deal with Mexico on immigration; suspending a potential 5% tariff on all Mexican-produced goods.

“I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended,” said Trump last Friday. “Mexico, in turn, has agreed to take strong measures to….stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States. Details of the agreement will be released shortly by the State Department. Thank you!”

This is a developing story. Check back for updates.

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