What better way to celebrate the ninth anniversary of the bull market than with a strong employment report? The economy created a better than expected 313,000 new jobs in February, higher than the anticipated 200,000. The strength was seen across a variety of sectors: retail increased by 50,300, construction was up 61,000, manufacturing added 31,000 jobs and professional & business services employment added 50,000.
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After announcing that he would introduce new tariffs on imported steel and aluminum, the President tweeted “Trade wars are good”…investors are not so sure. While some would argue that Trump is just making good on his promise to level the international trade playing field, others are concerned that this potential action will hurt the US economy and more importantly, trigger a trade war that could result in the next global recession. You know it’s serious when the Wall Street editorial board called the tariffs “the biggest policy blunder of his presidency”!
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