Tech Continues to Roar and Markets Ignore Tariff Noise


[MUSIC PLAYING] Good morning. It’s John Gillin at
your Morning NewsWire at Stansberry Research. Global markets– Asia is
showing some green shoots. As the yen is lower,
Japanese shares have rallied. Energy stocks in
particular are standouts. European markets across
the board are lower. There is an ECB meeting– European Central Bank
meeting next week. They’re going to discuss
quantitative easing, but there doesn’t appear
to be a whole lot going on in either Spain or Italy,
which is what we are certainly focused in on. China and the US appear
to be near a deal to let ZTE buy from
phone suppliers. It’s been a major
bone of contention. US markets were showing gains– were up about 75
points as we speak. I did read that the White
House has scrapped changes to bio-fuel rules,
and refiners are down. World Bank forecasts
for global growth. There were some downticks,
particularly in the US, so not everything rosy
coming out of the World Bank. Individual stocks– Twitter
is doing a convertible bond offering to the tune of
a billion dollars, which is pretty intelligent,
given their stock is at an all-time high. Athenahealth, ATHN, is
going to make a CEO change. They’re out with Billy Bush and
in with– it’s not Billy Bush, but his last name is Bush. And they’re putting
in Jeff Immelt, who used to be the CEO of GE. And he was a disaster
in that role of GE. Tesla– Mr. Musk had their
annual presentation yesterday. And he must have
stayed on his meds, because stock is reacting
to the upside this morning. Delta Airlines did
cut their forecasts. Airlines under pressure. This all has to do with oil. Oil currently is trading
right at $65, gold is $1,300. And Bitcoin was just
flat as a pancake. So yesterday, tech
made new highs. That’s growth and safety. And banks are under
some pressure. That’s your geopolitical
canary in the coal mine. And when you see
those trade off, you know that something
is ruminating. Also, Dennis Rodman
will be in Singapore for the big summit, which
just makes me smile. So markets are ignoring
a lot of the noise again. They believe the tariffs
will be more bark than bite. And that is why we’ve had
a good couple of days, so everybody enjoy the day. Thanks for your time. If you’re enjoying these
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