FED 'audit' Thursday / U.S : JPN & Philippines 'trade deal' / TSLA & GOOG earnings up next

Stéphan
Jul 23
2 min read

Markets : U.S announced a deal with Japan, 15% tariffs and few exceptions higher (ALU), that's less than the 25% expected, Nikkei joins the fun higher, JGB's chinned though (long-end 7bps higher), 19% tariffs with Philippines (instead of 20%, big win..) >>> USD weakening again, metals powering through resistance higher #GOLD #SILVER #XPT #PALL .. risk holding up very well overall, TSLA earnings tonight then GOOG, first of the #MAG7 this week, let' see how this goes.. few clients buying downside spreads #SPX and #QQQ, never a bad time to buy hedges when vols/VIX are low >>> 62% of S&P 500 stocks are now trading above their 200 dma, the most since Jan >>> thanks to TGA run down and FED pumping, M2 surging etc..
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'' tariffs haven't affected the stock market more is that they primarily affect the "old economy". GM has $187B in sales but a market cap of just $50B, while Nvidia has $135B in sales and a market cap of $4.1 trillion. GM is much more exposed to tariffs than Nvidia.'' >>> read that again