Hey y’all,
A lot of times, the markets can make you feel pretty stupid (well, they make me feel pretty stupid, at least!)
But sometimes you hit the nail on the head.
Yesterday, I was talking about the difference between Scott Bessent on the one hand and Peter Navarro/Howard Lutnick on the other.
Well, now I have visual proof:
Bessent has been almost single-handedly keeping the markets alive since the trade war started.
While it isn’t strictly speaking the President’s job to keep markets high, it’s a pretty good weathervane for faith in his administration.
So hopefully, President Trump continues to listen to Scott Bessent, his Treasury Secretary (good news there: I just saw footage of a meeting between Trump and the Norwegian PM, and Bessent was sitting directly on Trump’s left-hand side).
In positive news, the markets are fairly sanguine today, despite China denying America’s claims that negotiations are ongoing:
As always, the White House needs to start delivering concrete trade deals to put their money where their mouth is for investors. We’re already 17% of the way through Trump’s 90-day pause.
But this is the strongest sustained rally we’ve seen since the trade war started.
How long will it last? Well, that’s a good question.
If you don’t have a trade plan set for May yet, don’t forget that on the First Saturday of every month, I’ll be hosting a Roundtable to help you get prepared for the month. So mark your calendars for May 3.
And speaking of roundtables: how would YOU feel about a special roundtable where we talk about picking options?
It might sound dry, but I know a lot of traders (myself included) struggle with picking the right options prices.
If you think it’s a good idea, reply to this email with a “heck yes!” (or whatever you’d like to say)
To your prosperity,
Stephen Ground
Editor-in-Chief, ProsperityPub
