Episode: Why China’s Yuan Support Will Rally the Markets

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Why China’s Yuan Support Will Rally the Markets

Scott Garliss and Greg Diamond launch right into a recap of last week's winners amid new all-time highs for the S&P 500, the Russell, and the Nasdaq – and why the defensive names sold off amid the rally. 

Scott lists the best-performing sectors of the week, including two that surprisingly bested tech, and why gold and oil saw even stronger rallies. 

Going over the big news and events from last week, Scott and Greg discuss the Mueller investigation, and the market’s reaction to Paul Manafort being found guilty on eight counts of fraud and tax evasion, while Trump’s longtime lawyer pled guilty to campaign finance violations.

Greg’s response: “It’s all a big nothingburger to me.” He recounts the supposed bombshells of 2017, that led to one-day market dips that never threatened to derail the broader rally.

Greg breaks down the latest trade domino to fall – and the next development that could light a fire under markets.

Scott gives an update on NAFTA negotiations, with news coming in just as recording begins. With China negotiations, Scott and Greg discuss the latest news out of D.C. and Beijing, including a potential timeline for a deal, and tell listeners why any good news would surprise the markets into moving higher. 

Scott moves on to one of the most sensational stories of the past few weeks – Tesla. Scott recaps the timeline of Elon Musk's "plan" to take Tesla private but explains why there could be huge consequences looming – and why Musk's actions could bring even more heat from the SEC and a potential lawsuit from shorts. 

“You have a good case for a lawsuit,” Scott says of Musk’s twitter broadsides fired with the purpose of ripping short sellers. Greg says it’s a perfect example of what he tells readers in Ten Stock Trader all the time: Manage risk. 

Scott discusses the recent statements from the Federal Reserve and the members of the FOMC, and why their comments implicate the Fed is easing its expectation of rate hikes. 

Scott and Greg discuss how this bodes well for the S&P500 and emerging markets, as a lower dollar should boost global markets. 

With dollar-denominated assets becoming a haven recently, Scott gives two trade ideas for an upside rally in emerging markets. 

Finally, Scott and Greg reach into the mailbag to answer a question from Eddie D. about possible insider trading in the White House, and read a compliment from listener Lydia B. 

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