MARKET CALL: Don't Get Thrown Off The Bull

President Donald Trump is frustrated about his trade negotiations with the European Union: "Our discussions with them are going nowhere!" He said so on Friday morning and threatened to slap a 50% across-the-board tariff on America's largest trading partner in terms of imports starting next Sunday, June 1. The master of the art of the deal is imposing the deal. "I'm not looking for a deal," said Trump. "I mean, we've set the deal. It's at 50%." Treasury Secretary Scott Bessent added that he hopes that the tariff will "light a fire under the EU" in negotiations with Washington. He also said that he expects to announce more deals with America's other trading partners, who are negotiating in good faith.

Stock investors seem to be getting jaded about Trump's Tariff Turmoil (TTT). Investors must be assuming that Trump might change his mind again, or maybe postpone this latest threatened tariff for 90 days. The S&P 500 was down by only 0.68% on Friday, while the Nasdaq fell 1.00% (chart). Investors were more perturbed by Trump's threat to impose a 25% tariff on imports of Apple's iPhones. That news sent the company's stock price tumbling 3.03% on Friday.