Markets began Monday with an uptick which then gave way and fell in part due to profit taking and uncertainty regarding details in the US China trade negotiations. At the close the Dow was off 206 at 25,819. The intraday low was a negative 400 points so the rebound into the close was a relief. Trading volume was lower for the day. There will be a burst of retail earnings reports this week including Target and Costco. At the end of the week the February jobs report is scheduled to be released.
Alaska Air today began flights from Paine Field up in Everett, WA. They plan on having 18 flights per day to California, Vegas and Phoenix. United and Delta might start flights from Everett in the coming months as well all geared toward easing the mounting stress on Seatac which is starting to resemble a stirred-up bee hive.
The U.S. and China are apparently nearing a trade deal that would involve Beijing lowering tariffs on American farm, chemical, auto and other products and bumping up purchases of American goods. As part of the deal, the U.S. would lift many if not all tariffs on Chinese products. China is also lowering a VAT tax which is considered by some as a non-tariff trade barrier. Both Trump and Xi meet at Mar-a-Lago at the end of the month and while the gurus are expecting a deal to get done, we will not know how it turns out until it is actually signed and even then, there could be issues since the age of disruption that we are currently living in can make chumps of us all. John “Wrong Way” Stockman today said the trade deal will fall apart and end in failure but given his horrible track record of calling gloom and doom and then being wrong nearly 100% of the time, this bodes well for a successful US/China trade pact!
Scouts were busy this weekend. Troop 100 had an Eagle court of honor for two young men while another scout finished up his Eagle project by delivering handmade barrel produce washers to a farm near Monroe that grows veggies for food banks. The highlight of the weekend was the one scout who jumped into the pig pen only to beat a quick retreat when a sow went after him.