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Wednesday, April 23rd
“For every complex problem there is an answer that is clear, simple, and wrong.”
-H. L. Mencken
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Markets Today
🌏 Asia-Pacific: Up
🇪🇺 Europe: Up
🇺🇸 United States: Up
🛢️ Oil: Down
⚡Crypto: Up
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Major Market Events
- Intel stock surges as chipmaker plans to cut 20% of workforce
- Trump backs off on threats to fire Powell
- US mortgage rates rise again, reach highest since mid-February
🤔 My Thoughts
Is this a return to “stocks only go up?”
(Teaser: No)
The market jumped this morning after President Trump said he has “no intention” of firing Fed Chair Jerome Powell, easing Wall Street fears over a chaotic replacement cycle at the Fed.
President Trump also softened his tone on tariffs, hinting that the brutal tariffs imposed on Chinese imports would ultimately be scaled back.
Even Tesla is moving back up after a grim earnings report, and some aftermarket drops yesterday.
Here’s the thing: President Trump is a decades long businessman who clearly wants American prosperity.
And whether you love him or hate him, you can’t ignore this fact. Now he’s also a decades long proponent of protectionism… and as a real estate magnate, he may be more concerned about sectors OTHER than the stock market…
Putting him in opposition to the traditional “stocks only go up” model of American democratic governance.
So above we said that this is NOT a return to “stocks only go up…” but that doesn’t mean it won’t happen as President Trump focuses more on things like domestic employment and energy production.
Right now our mood is cautious optimism, expecting intense volatility to continue… but ultimately leading upwards…