The markets surged to record highs. The dollar jumping following Trump's victory.

Trump promised to usher in the "golden age of America" in his victory speech early Wednesday morning. At the open of trading hours later, the Dow gained over 1,320 points (in excess of 3%) while the S&P 500 index increased by 1.9% and the Nasdaq rose by 2.2%.

CNN indicated that this is the first time the Dow has jumped over 1,000 points in a single day since November 2022.

President Joe Biden has officially blocked the $14.9 billion takeover of U.S. Steel by Japan's Nippon Steel.
Biden said the proposed deal would place one of the largest steel producers in the U.S. under foreign control, creating a risk for the nation's critical supply chains.
U.S. Steel's stock opened down more than 7% in trading Friday following the president's announcement.

The U.S. economy finished 2024 on a positive note. In December 2024, job additions exceeded expectations, showcasing a robust labor market despite high interest rates, with the new Bureau of Labor Statistics data showing 256,000 new jobs last month, up from a downwardly revised 212,000 in November 2024.
Last month's reading was above the trailing 12-month average of 189,500.

Economists expected total nonfarm payroll employment additions to be 153,000, according to estimates collected by FactSet.

The central bank recently made a policy announcement that could have significant implications for where Canada's economy goes next year. The problem is, it wasn't Canada's central bank that made it.

After the decision to cut interest rates this month, chair Jerome Powell said the U.S. Federal Reserve could henceforth be "more cautious in reducing rates," projecting higher inflation and therefore interest rates next year than previously expected.

It's been a while in coming. Maintaining that it now has inflation under control, the Fed has been cutting short-term rates. But bond investors, judging that the Fed has jumped the gun and inflation will return and affect the fiscal health of the U.S. government, have been selling bonds. That has the effect of driving up long-term rates. One side or the other had to cave. With this move, the Fed has taken heed of what markets have been saying.

A federal judge in Texas granted a victory Friday to American Airlines pilots suing the company for sacrificing the profitability of their 401(k) fund to pursue liberal causes.

It's a potentially major blow in a long battle against political investing, called ESG (or environmental, social, and governance). And it paves the way for battles against BlackRock and other globe-dominating businesses that funnel trillions of Americans' retirement and investment dollars toward left-wing causes. More, it demonstrates how the political catastrophe that has befallen corporate governance these past five years can be undone — by the same tool with which it was made.

Trump has hailed a deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison which includes assets along the Panama Canal.

The deal will give the U.S. consortium control of key Panama Canal ports amid White House calls to remove them from what it says is Chinese ownership. The high purchase price sent CK Hutchison's stock up more than 20%.

At first global markets believed Trump was using the threat of tariffs as a bargaining chip.

Now the markets believe this could be the new normal. Big sell -offs all over the world.

I saw this nugget on market watch.

US stock indexes jumped Monday on news that April 2 tariffs could be less severe.
Reports said planned reciprocal levies will be more narrowly targeted than initially believed.

The S&P 500 and Nasdaq rose over 1% early Monday, extending last week's gains.
Investors pushed US stocks up on Monday morning as they cheered news that President Donald Trump could soften reciprocal tariffs scheduled to kick in on April 2.

Trump's planned "Liberation Day" on April 2, which was expected to see sweeping reciprocal tariffs go into efffect, will be more targeted than previously believed, Bloomberg and The Wall Street Journal reported. Some nations will be excluded and sector-specific tariffs will not be announced for now.

The news has helped revive investor enthusiasm to start the week, with the S&P 500 and Nasdaq Composite surging more than 1% and the Dow Jones Industrial Average rising more than 400 points.

Hooters files for bankruptcy

 

Made famous by its serving staff's uniforms – low-cut tank tops and orange shorts – and, later, its chicken wings, Hooters has filed for bankruptcy, it announced.

The restaurant chain, Reuters reported, made the filing Monday in a Texas court, with the plan being to deal with its $376 million in debt by selling all its company-owned locations to a franchise group stacked with original founders of the company and a group of current franchisees, who own and operate more than 30% of the company's domestically owned locations, including 14 of the 30 most trafficked restaurants. 

Joining the ranks of Red Lobster, TGI Fridays and other casual dining restaurants, officials with the chain cite inflation, increasing food and labor costs as well as a general decrease in spending by Americans increasingly aware of their shrinking wallets. 

While Hooters said in a statement that it expects to move through the bankruptcy process within the next 90-120 days, company officials made it clear to its fan base that the restaurant chain is going nowhere. 

"Our renowned Hooters restaurants are here to stay," Sal Melilli, Chief Executive of Hooters of America, said. "Today's announcement marks an important milestone in our effort to reinforce Hooter's financial foundation and continue delivering the guest-obsessed hospitality experience and delicious food our customers and communities have come to expect." 

https://ktla.com/news/consumer-business/hooters-files-for-bankruptcy-says-the-chains-down-but-not-out/

Quote from: Oliver the Second on April 01, 2025, 12:13:57 AMHooters files for bankruptcy

 

Made famous by its serving staff's uniforms – low-cut tank tops and orange shorts – and, later, its chicken wings, Hooters has filed for bankruptcy, it announced.

The restaurant chain, Reuters reported, made the filing Monday in a Texas court, with the plan being to deal with its $376 million in debt by selling all its company-owned locations to a franchise group stacked with original founders of the company and a group of current franchisees, who own and operate more than 30% of the company's domestically owned locations, including 14 of the 30 most trafficked restaurants. 

Joining the ranks of Red Lobster, TGI Fridays and other casual dining restaurants, officials with the chain cite inflation, increasing food and labor costs as well as a general decrease in spending by Americans increasingly aware of their shrinking wallets. 

While Hooters said in a statement that it expects to move through the bankruptcy process within the next 90-120 days, company officials made it clear to its fan base that the restaurant chain is going nowhere. 

"Our renowned Hooters restaurants are here to stay," Sal Melilli, Chief Executive of Hooters of America, said. "Today's announcement marks an important milestone in our effort to reinforce Hooter's financial foundation and continue delivering the guest-obsessed hospitality experience and delicious food our customers and communities have come to expect." 

https://ktla.com/news/consumer-business/hooters-files-for-bankruptcy-says-the-chains-down-but-not-out/

I knew this was coming.

Possible Snenarios where the S&P is headed & how to play the Stock Market in today's Economic Climate:

Watch for the VIX as well...

The Canadian dollar had it's biggest one day jump in two years. Trump's Liberation Day tariffs are not hitting Canada as hard as previously thought.

U.S. stocks saw a sharp decline on April 3 after Donald Trump imposed steep reciprocal tariffs on many nations.

In the weeks leading up to the tariff announcement, markets had already faced significant volatility, with some believing the actual risk was overstated.

Trump said the financial markets will take off once the new levies are in effect.

Trump stated that as much as $7 trillion would enter the United States, resulting from investments coming into the country.

"The markets are going to boom," he said, adding that "the country is going to boom."

I wish I shared the president's optimism.

Crude plunged after eight important OPEC+ producers—Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia, and the United Arab Emirates (UAE)—chose to collectively accelerate output by 411,000 barrels per day, effective in May.