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Rough Start To The Week, Trade Fears Weigh On Stocks

Stocks got off to a rough start yesterday with the major indexes down about -1.25%.

Continuing trade fears weighed on stocks.

While the new tariffs don't begin until September 1st at the earliest (that's assuming they even go on and aren't suspended ahead of the scheduled trade talks later that month), it's the uncertainty over what comes next that seems to have the market unnerved.

Because it sure isn't the economic impact of the tariffs, as it's been estimated they'll only shave four tenths to a half percent off of our GDP.

And with our economy on pace to grow at 2.6% this year, a half percent is not going to hurt us. In fact, we'd still be growing at a faster pace than the average annual GDP of this whole expansion.

Fact is, the U.S. economy remains the envy of the world.

Unfortunately, there are real slowdown concerns elsewhere in the world. But that's why central banks around the globe are lowering interest rates and pumping stimulus into their economies. And that's one of the reasons why the Fed is likely to keep cutting rates here at home just to keep up.

But those are all bullish for the economy.

We may see more volatility as we approach the September 1st tariff deadline, the continuing trade talks later that month, and the next FOMC meeting in mid-September where we'll find out if they cut rates again.

But I would continue to look at any pullback as a buying opportunity.

As I've said before, these are historic times for our economy and the market.

And it looks like there's a lot more upside to go.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research


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