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Broadcasting LIVE at noon to share my volatility trade strategy with an 84% win rate since July – you’ll be shocked how simple it is. Claim a free RSVP right here!
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Thursday, March 27th
“There is no doubt about precisely when folks began racing each other in automobiles. It was the day they built the second automobile.”
-Richard Petty
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Markets Today
🌏 Asia-Pacific: Mixed
🇪🇺 Europe: Down
🇺🇸 United States: Down
🛢️ Oil: Down
⚡Crypto: Down
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Major Market Events
- Auto stocks fall after Trump doubles down on 25% tariffs on car imports
- US unemployment holds steady
- DOJ launches task force to cut regulation
🤔 My Thoughts
President Trump is making waves again with an announcement of a hard 25% tariff on foreign car imports.
Foreign car stocks like Korean behemoth Kia are falling on the news… but “American” companies like Ford and GM who make many parts and even whole cars in Canada and Mexico and elsewhere, may also be in for a world of hurt.
The car industry is up in arms, trying to mitigate the damage…
But for now President Trump isn’t swayed.
Bernstein analyst Daniel Roeska called the tariffs a “blow” to the industry in a report Wednesday.
Wedbush analyst Dan Ives wrote that they represented a “hurricane-like headwind.”
J.P. Morgan analyst Ryan Brinkman cut his price target on Ford stock to $11 from $13, and his General Motors stock price target went to $53 from $64.
Brinkman noted “material earnings risk, as draconian tariffs seem likelier than ever,” but kept a Buy rating on both stocks.
But not everyone is mad.
The United Auto Workers union is happy with the decision.
Their president just issued this statement:
“We applaud the Trump administration for stepping up to end the free trade disaster that has devastated working-class communities for decades.”
No matter how you feel about it, it’s clear that trade war volatility is heating up…
And smart traders need to plan for that.
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Testimonial of the day:
Rob E. about Bargain Bin Trader: “ Very well. $2500 gain on a ten lot, $1350 on an 8 lot. […] ”
