The Tariffs Have NOT Hurt

As of this afternoon, it has been exactly thirty days since reciprocal tariffs went into effect. At the close of business on April 2, here is where the three major markets closed:

 

• DOW 42,225

• NAS  17,449

• S&P    5,670

Then, ìmmediately, panic and fear set in, with the Democrats and Lame Stream Media, calling the tariffs as the total destruction of the American economy and other negative cries of despair. Boy, were they wrong!

In addition, job growth was stronger than expected in April despite worries over the impact of President Donald Trump’s blanket tariffs against US trading partners.

Non-farm payrolls increased a seasonally adjusted 177,000 for the month, slightly below the downwardly revised 185,000 in March, but above the Dow Jones estimate for 133,000, the Bureau of Labor Statistics reported today.

SInce the beginning of the Trump Presidency, inflation has trended lower each month than expected, as well. For March, inflation was at 2.4%, lower than the predicted 2.8%. Surely, when the April numbers are released on May 13, we will see a continued decline here, too.

The “experts” are claiming thIs represents a downturn. IDIOTS ALL.

And now the closing numbers for May 2 are:

• DOW 41,317 dn 908

• NAS 17,977 up 528

• S&P 5,687 up 17

Not so bad after the prognostications of gloom and doom thirty days ago, yes? So, while it was a roller-coaster ride, it was not the catastrophic outcome “those in the know” were predicting.

And, by the way, all three markets were up again for the day and the week.