Trump’s Greenland, Foreign Policy Unpopular with Americans

Samsung Strike Threat Sparks Selling Contagion In Memory Stocks President Trump's China trip has concluded, with the multi-day summit producing comments from both sides that pointed to warming bilateral relations. As Trump returns aboard Air Force One on Friday morning, traders are shifting focus to overnight turmoil in South Korea, where labor action risks rattled Samsung shares and other memory stocks, and dragged the country's benchmark KOSPI index lower. Samsung’s strike is set to formally begin on May 21. Because the company’s semiconductor fabs are already highly automated, the impact...

Futures, Bonds Tumble, Oil Soars After Trump Dashes Hopes For Early End To Iran War Global risk assets, including US equity futures and global markets, as well as Treasuries and precious metals, tumbled as oil soared with Brent hitting $110 this morning after Trump's late Wednesday speech refused to pivot and dashed hopes that the Hormuz Strait would reopen soon and the war in the Middle East is nearing a swift resolution. As of 8:00am ET, S&P 500 futures dropped 1.7%, reversing yesterday's short squeeze as investors refuse to add...

Is The Iran War Good For The Petrodollar? Diana Choyleva wrote an excellent editorial for the Wall Street Journal entitled “The Iran War Is A Boon For The Petrodollar.” She pushes back against claims that the Iran conflict is accelerating the death of the petrodollar. Instead, RealInvestmentAdvice.com points out that she argues the opposite: between Iran and Venezuela, the U.S. is defending and bolstering dollar dominance in the oil trade. The 75-year-old petrodollar system rests on oil being priced and traded in dollars, which keeps the dollar prominent in all global trade. China has...