Raphael Stevens

U.S. President Donald Trump is displayed on a television screen as traders work on the floor of the New York Stock Exchange (NYSE) on April 7, 2025 in New York City. 
Spencer Platt | Getty Images

President Donald Trump’s first 100 days in office are the worst for the stock market for the start of a president’s four-year term since the 1970s.
The S&P 500’s 7.9% drop from when Trump was sworn into office on Jan. 20 through the April 25 close, is the second worst first 100-day performance going back to the beginning of President Richard Nixon’s second term, according to CFRA Research. Nixon saw the S&P 500 tumble 9.9% in 1973, after a series of economic measures he took to combat inflation resulted in the 1973 to 1975 recession. Nixon would later resign in 1974 because of the Watergate scandal.

On average, the S&P 500 rises 2.1% in the first 100 days for any president, in data of postelection years going from 1944 through 2020, CFRA showed.

The severity of the stock drawdown to start Trump’s presidency stands in marked contrast to the initial euphoria following his November election victory, when the S&P 500 surged to all-time highs amid confidence the former businessman would bring about much hoped for tax cuts and deregulation. From Election Day to Inauguration Day, the S&P 500 advanced 3.7%, CFRA data shows.
The rally sputtered and then dove sharply as Trump used his early days in office to push forth other campaign promises that investors had taken less seriously, particularly an aggressive approach to trade that many worry will raise inflation and push the U.S. into a recession.
In April, the S&P 500 took a nosedive, losing 10% in just two days and briefly entering bear market territory, following Trump’s “reciprocal” tariff announcement. Trump then walked back part of that announcement, giving countries a 90-day pause to renegotiate deals, that soothed some of investors’ concerns. Many worry there’s further downside ahead.
“Everyone’s looking for this bottom here,” said Jeffrey Hirsch, editor of the Stock Trader’s Almanac. “I’m still thinking it’s a bear market rally, a near-term bounce kind of thing. I’m not convinced we’re out of the woods yet, with the lack of clarity and continuing uncertainty in Washington.”

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S&P 500 since Jan. 17 close

The S&P 500, which reached a closing high of 6,144.15 on Feb. 19, ended Friday at 5,525.21. It has erased all postelection gains from November.
To be sure, Trump has two more trading days to cut his losses. His first 100 days technically end on Tuesday. If the S&P 500 rallies this week, he could get close to the third worst start — the 6.9% decline during the first 100 days of George W. Bush in 2001. More

Lower-income earners are reining in their transactions to focus on essentials, while the wealthy continue to spend freely on perks including dining out and luxury travel, according to first-quarter results from U.S. credit card lenders.
Synchrony, which provides store cards for retail brands including Lowe’s and T.J. Maxx, spending fell 4% in the first three months of the year, the company said last week.
That compares to a 6% spending jump at American Express and a similar rise at JPMorgan Chase, both of which cater to wealthier users with higher credit scores.

Shoppers walk through the King of Prussia Mall, as global markets brace for a hit to trade and growth caused by U.S. President Donald Trump’s decision to impose import tariffs on dozens of countries, in King of Prussia, Pennsylvania, U.S., April 3, 2025.
Rachel Wisniewski | Reuters

America, at the start of 2025, is a tale of two consumers.
Lower-income earners are reining in their transactions to focus on essentials, while the wealthy continue to spend freely on perks including dining out and luxury travel, according to first-quarter results from U.S. credit card lenders.

As anxiety from the opening salvos of President Donald Trump’s trade policies rippled through the country in recent months, investors and economists have wondered whether declines in consumer sentiment would spill into the real economy. There are some early signs of stress among those who are already more economically vulnerable.
For instance, at Synchrony, which provides store cards for retail brands including Lowe’s and T.J. Maxx, spending fell 4% in the first three months of the year, the company said last week.
That compares to a 6% spending jump at American Express and a similar rise at JPMorgan Chase, both of which cater to wealthier users with higher credit scores than Synchrony. AmEx said its customers spent 7% more on dining and 11% more on first class and business class airfare than a year earlier.
While the “consumer is still in pretty good shape” overall, they are “being selective around how they spend,” Synchrony CEO Brian Doubles told analysts on April 22.
Lower-income card users in particular “started tapering their spend about a year ago,” pulling back on discretionary and big ticket expenses as inflation ate into their buying power, Doubles said.

Falling behind

More Americans were already falling into debt while using their credit cards in the fourth quarter. The share of credit card users making only minimum monthly payments rose to 11.1%, the highest level in 12 years, according Federal Reserve Bank of Philadelphia data released this month.
But so far, credit card lenders catering to wealthier customers have been insulated from concerns about how tariffs, inflation and a possible recession later this year could impact consumer spending.
“It’s fair to say that the high end has held up better, and the low end has pulled back more,” Brian Foran, a Truist analyst covering banks, said in an email. “It’s been a common theme both speaking to credit card companies, and hearing from most of my colleagues covering consumer and retail.”
The split was also visible at Citigroup, a major player in the credit industry. While spending in the division that provides cards for retailers fell 5% in the quarter, plastic that carries the bank’s own brand — a cohort with higher credit scores — saw spending rise 3%.
Both Citigroup and Bread Financial, another provider of store and co-branded cards like Synchrony, said that consumer behavior shifted toward essentials and away from travel and entertainment on concern that tariffs would raise prices for some goods.
The dynamic boosts spending now, but it could mean weaker demand in the future.
“Consumers are buying more electronics, home furnishing, auto parts,” Bread CFO Perry Beberman said last week.
People are “trying to figure out, are they still going to buy that big TV or are they going to make some other choices if inflation comes through at some of the rates they could,” Beberman said. “That’s the real wildcard here.” More

Chinese manufacturers are pausing production and turning to new markets as the impact of U.S. tariffs sets in, according to companies and analysts.
The lost orders are also hitting jobs and forcing Chinese exporters to try livestreaming at home.
Some companies have already built businesses on other trade routes from China.

Textile manufacturing workers in Binzhou, Shandong, China, on April 23, 2025.
Nurphoto | Nurphoto | Getty Images

BEIJING — Chinese manufacturers are pausing production and turning to new markets as the impact of U.S. tariffs sets in, according to companies and analysts.
The lost orders are also hitting jobs.

“I know several factories that have told half of their employees to go home for a few weeks and stopped most of their production,” said Cameron Johnson, Shanghai-based senior partner at consulting firm Tidalwave Solutions. He said factories making toys, sporting goods and low-cost Dollar Store-type goods are the most affected right now.
“While not large-scale yet, it is happening in the key [export] hubs of Yiwu and Dongguan and there is concern that it will grow,” Johnson said. “There is a hope that tariffs will be lowered so orders can resume, but in the meantime companies are furloughing employees and idling some production.”
Around 10 million to 20 million workers in China are involved with U.S.-bound export businesses, according to Goldman Sachs estimates. The official number of workers in China’s cities last year was 473.45 million.

Over a series of swift announcements this month, the U.S. added more than 100% in tariffs to Chinese goods, to which China retaliated with reciprocal duties. While U.S. President Donald Trump on Thursday asserted trade talks with Beijing were underway, the Chinese side has denied any negotiations are ongoing.
The impact of the recent doubling in tariffs is “way bigger” than that of the Covid-19 pandemic, said Ash Monga, founder and CEO of Guangzhou-based Imex Sourcing Services, a supply chain management company. He noted that for small businesses with only several million dollars in resources, the sudden increase in tariffs might be unbearable and could put them out of business.

He said there’s so much demand from clients and other importers of Chinese products that he’s launching a new “Tariff Help” website on Friday to help small business find suppliers based outside China.

Livestreaming

The business disruption is forcing Chinese exporters to try new sales strategies.
Woodswool, an athleticwear manufacturer based in Ningbo, near Shanghai, quickly turned to selling the clothes online in China via livestreaming. After launching the sales channel about a week ago, the company said it’s received more than 30 orders with gross merchandise value of more than 5,000 yuan ($690).
It’s a small step toward salvaging lost business.
“All our U.S. orders have been canceled,” Li Yan, factory manager and brand director of Woodswool, said in Mandarin, translated by CNBC.
More than half of production once went to the U.S., and some capacity will be idle for two to three months until the company is able to build up new markets, Li said. He noted the company has sold to customers in Europe, Australia and the U.S. for more than 20 years.
The venture into livestreaming is part of an effort by major Chinese tech companies, at the behest of Beijing, to help exporters redirect their goods to the domestic market.
Woodswool is selling its products online through Baidu, whose search engine app also includes a livestreaming e-commerce platform. Li said he chose the company’s virtual human livestreaming option since it allowed him to get up and running within two weeks, without having to spend time and money on renovating a studio and hiring a team.
Baidu said it has worked with at least several hundred Chinese businesses to launch domestic e-commerce channels after this month announcing it would provide subsidies and free artificial intelligence tools — such as its “Huiboxing” virtual humans — for 1 million businesses. The virtual humans are digitally recreated versions of people that use AI to mimic sales pitches and automate interactions with customers. The company claimed that return on investment was higher than that of using a human being.

Domestic market challenges

E-commerce company JD.com was one of the first to announce similar support, pledging 200 billion yuan ($27.22 billion) to buy Chinese goods originally intended for export — and find ways to sell them within China. Food delivery company Meituan has also announced it would help exporters distribute domestically, without specifying an amount.
However, $27.22 billion is only 5% of the $524.66 billion in goods that China exported to the U.S. last year.
“A few businesses have told us that under 125% tariffs, their business model is not workable,” Michael Hart, president of the American Chamber of Commerce in China, told reporters Friday. He also noted more competition among Chinese companies in the last week.
Tariffs from both countries will likely remain in place at a certain level, with exemptions for certain tariffs, Hart said. “That’s exactly what they’re backing into.”
Products branded and developed for a suburban U.S. consumer might not directly work for a Chinese apartment dweller.
Manufacturers have gone directly to Chinese social media platforms Red Note and Douyin, the local version of TikTok, to ask consumers to support them, but fatigue is growing, pointed out Ashley Dudarenok, founder of ChoZan, a China marketing consultancy.

Looking outside the U.S.

Fewer and fewer Chinese companies are considering diverting exports to the U.S. through other countries, given rising U.S. scrutiny of transshipments, she said. Dudarenok added that many companies are diversifying production to India over Southeast Asia, while others are turning from U.S. customers to those in Europe and Latin America.
Some companies have already built businesses on other trade routes from China.
Liu Xu runs an e-commerce company called Beijing Mingyuchu that sells bathroom products to Brazil. While his business has run into challenges from fluctuating exchange rates and high container shipping costs, Liu said he expects trade with Brazil will ultimately not be that affected by China’s tensions with the U.S.
China’s exports to Brazil have doubled between 2018 and 2024, as have China’s exports to Ghana.
During the Covid-19 pandemic, Ghana-based Cotrie Logistics was founded to help businesses with sourcing, coordinate shipments amid port delays and build dependable logistics routes, said CEO Bright Tordzroh. The company primarily works in trade between China and Ghana and now makes $300,000 to $1 million annually, he said.
The U.S.-China trade tensions have led many companies to explore sourcing and manufacturing locations outside the United States, Tordzroh said, which he hopes can create more opportunities for Cotrie.

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The stock market bounce last week showed once again just how dependent Wall Street has become on the whims of the White House. Case in point: The S & P 500 sank more than 2% this past Monday as President Donald Trump was attacking Federal Reserve Chairman Jerome Powell and providing scant details on tariff talks. Then on Tuesday , things started to turn around. Treasury Secretary Scott Bessent said there “will be a de-escalation” in the trade war with China. It was the first day of what turned out to be a three-session rally for the S & P 500. Wednesday ‘s gains were fueled after Trump said he would not fire Powell and softened his stance on China. Thursday ‘s advance came despite China saying no trade talks were going on with the U.S., and the White House saying otherwise. The market finished higher Friday . When it was all said and done, the S & P 500 and the Nasdaq gained 4.6% and 6.7% , respectively, for the week. Nasdaq’s outsized advance last week put it in the green for the month with just three trading days left in April. Our tech stock standouts last week included Broadcom ‘s 12.5% gain and CrowdStrike ‘s 13% advance. The broader market S & P 500, however, was still down 1.5% in April as health care and materials continued to struggle this month. For the week, the Dow rose 2.5%, but that did not put much of a dent in the 30-stock average’s 4.5% monthly decline. .SPX .DJI,.IXIC YTD mountain S & P 500, Dow, and Nasdaq YTD Earnings from consumer-facing companies last week confirmed what the monthly consumer surveys have been reporting: People are worried about the economy and inflation and are not spending as freely. On Friday, the University of Michigan’s final look at April consumer sentiment was a bit better than the prior release on both feelings about the economy and inflation. However, the readings were still dismal. Four Club names delivered their quarterly report cards last week. Depressed Danaher on Tuesday showed signs of life , and the stock picked up nearly 5.5%. The theme of Capital One’s quarter, also out Tuesday, was resilient credit quality heading into next month’s completion of its purchase of credit card company and payment network Discover Financial. Capital One soared more than 12% last week. It was our biggest winner. The portfolio’s other financial stocks — Wells Fargo , Goldman Sachs , and BlackRock — also performed well last week. On Thursday, we lowered our price target on Bristol Myers Squibb because the financials did not resolve lingering issues for the stock, which lost 2.7% for the week. Guidance from Dover , also out Thursday, was prudently conservative , and the market rewarded the stock. Dover shares rose 5% for the week. We sent out four trade alerts last week. On Monday, we made good on Jim Cramer’s call earlier this month to lighten up on Apple and Nvidia because they are so hard to own in Trump’s second administration due to U.S. tensions with China. Apple and Nvidia gained ground last week — more than 6% and 9%, respectively. We also bought more shares of Capital One before the earnings pop because we felt the stock on Monday should have done better following regulator approval for its Discover deal. On Tuesday, we bought more shares of BlackRock and Dover before they jumped last week. We also added to our Starbucks position, which perked up last week but was still losing roughly 15% in April on all the back and forth on China trade talks. We trimmed Linde on Thursday. Shares of the industrial-focused name have been resilient throughout the market turmoil and have maintained gains. There’s plenty on the economic calendar in the week ahead, with pivotal releases on both sides of the Fed’s dual policy mandate of maximum employment (jobs) and price stability (inflation). In that sense, the data in the coming days carries implications for the central bank’s future moves on interest rates and investors’ understanding of where the U.S. economy stands during the trade war more generally. In addition to the usual weekly jobless claims data on Thursday, there are three major labor market reports on tap. Job, jobs, jobs The Job Openings and Labor Turnover Survey for March is due out Tuesday morning. The closely watched release, known as JOLTS, measures the tightness or slack in the jobs market. That provides clues on whether businesses are looking to hire and potential wage inflation. As of Friday, the consensus estimate is 7.47 million job openings, according to FactSet. On Wednesday morning, payroll processing firm ADP’s look at private job creation is slated for release. Economists expect private employers added 150,000 jobs in April, a month marked by tariff uncertainty, according to FactSet. ADP is generally seen as a preview of the U.S. government’s official jobs report, though it’s hardly a perfect harbinger. Friday brings that official government jobs data. The nonfarm payrolls report for April also is expected to show the U.S. added 150,000 jobs, with the unemployment rate staying unchanged from the prior month at 4.2%, according to FactSet. Of course, the impact of tariffs on hiring is a key question. Whether the Trump administration’s efforts to downsize the federal workforce shows up in a material way is another question. In the March report, government positions dropped by just 4,000 . Inflation check The Fed’s preferred inflation gauge is set to be released Wednesday morning, with economists expecteding that the PCE index rose 2.6% year over year in March and 0.1% on a sequential basis. It bears repeating that this report is for March, so it was before Trump’s steep “reciprocal” tariffs briefly went into effect – then were paused while 10% baseline tariff on most trading partners was left in place. Nevertheless, the personal consumption expenditures index will shine a light on where price pressures in the economy stood before tariffs heated up. Inflation has remained above the Fed’s 2% target, and central bankers are waiting to see the inflationary impacts of tariffs. Earnings On top of the busy week of jobs and inflation data, the earnings calendar is jam-packed inside and outside the portfolio. We have 10 Club names reporting — headlined by four Big Tech holdings — while other influential companies in the market include Visa on Tuesday, Caterpillar on Wednesday, and Mastercard and McDonald’s on Thursday. Here’s what to watch for when our portfolio names report, along with sales and revenue estimates courtesy of LSEG. All other estimates are from FactSet. Honeywell is the first of the Club stocks to report on Tuesday morning, and as an industrial company with economic sensitivity, the trade war’s impact on customer orders will be a big focus. It’s worth noting: The company’s 2025 guidance offered in early February was already conservative. Its impending breakup into three standalone companies will be another topic of conversation. LSEG estimates: revenue of $9.59 billion and EPS: $2.21. Starbucks on Tuesday night is all about whether CEO Brian Niccol’s turnaround efforts are showing further signs of progress after its last quarter showed early indications that they were. Will they help the coffee chain break its four-quarter streak of declining same-store sales? The current consensus on Wall Street is for a decline of 0.8%. The weakening consumer may have hurt Starbucks during the period (and also could weigh on its outlook). Finally, updates on its China strategy and whether it’s facing anti-American backlash in that struggling market will be noteworthy. LSEG estimates: revenue of $8.86 billion and EPS of 50 cents. The biggest questions around Meta Platforms ‘ report after Wednesday’s close: How did its bread-and-butter advertising perform during the quarter as tariff-driven economic uncertainty started to bubble up, and how have more recent trade war developments changed advertisers’ behavior, particularly China-based businesses, if at all? The second theme is Meta’s AI spending plans in the face of elevated uncertainty. Is CEO Mark Zuckerberg standing by its $60 to $65 billion capital expenditures guidance? LSEG estimates: revenue of $41.39 billion and EPS: $5.28. The conversation on AI spending also will be playing out on Microsoft’s earnings call on Wednesday night. For roughly two months now, questions have been swirling about Microsoft’s data center expansion leases, with various reports of lease cancelations and pauses. Hopefully, analysts and investors alike get further clarity on this and the company’s capex intentions more broadly. The most important metric in the report is Azure cloud growth for both the January-to-March period and guidance for the current quarter. LSEG estimates: revenue of $68.44 billion and EPS: $3.22. Shares of Linde , which reports Thursday morning, have acted quite defensively this year for a company sensitive to economic growth. The nature of Linde’s localized industrial gas business makes it so its impact is more indirect — in other words, if an uncertain macro forces its customers to pull back their production, then Linde could see that show up in its volumes. The comforting thing for investors is that Linde’s management team is known for its conservatism with its guidance, and a weaker U.S. dollar could also be a tailwind to earnings growth. LSEG estimates: revenue: of $8.24 billion and EPS: $3.92. For Eli Lilly ‘s results on Thursday morning, the most important drugs remain Zepbound for obesity and Mounjaro for obesity, and analysts see them generating combined revenues of $6.06 billion in the quarter. This time around, though, Lilly’s call may spend a lot more time away from the GLP-1 market, with tariffs and the evolving regulatory regime in Washington — ranging from drug-price negotiations to industry critic Robert F. Kennedy Jr. as the nation’s top health official — as being major discussion points. To be sure, pipeline commentary, especially expectations for its GLP-1 pill , also will be influential. LSEG estimates: revenue: $12.67 billion and EPS: $3.05. Tariffs will be the dominant story on Thursday night when Apple reports. We’ll finally hear directly from CEO Tim Cook on how the company has responded thus far on production and plans to proceed from here, given it is currently exempt from the most aggressive tariffs on Chinese imports but still faces the looming threat of electronics-specific duties. Last Tuesday, new data showed that American consumers are prepared to remain loyal to the iPhone. On Friday, Reuters reported Apple is trying to make most of its U.S.-sold iPhones in India by the end of 2026. The other main angle is how tariffs have changed customer behavior. Did a lot of purchases get pulled into March quarter to beat tariff price hikes, leading to more subdued demand in the current quarter? LSEG estimates: revenue of $94.3 billion and EPS: $1.62. Amazon ‘s forward commentary on how the tariffs are affecting its ecommerce, Amazon Web Services and advertising businesses will carry greater weight than the first-quarter results themselves. On the retail side, have customers been stocking up to beat tariffs, and how is the company handling supply? Are sellers hiking their prices ? For AWS, is the uncertain environment changing customers’ consumption habits and IT budgets at all? Of course, analysts also will press on Amazon’s data center and AI spending strategy . On the ad front, Amazon has exposure to China-based marketers, like Meta, and weaker consumer spending could generally pressure ad spending. Profitability is a key watch item, too. LSEG estimates: revenue of $154.92 billion and EPS: $1.36. When DuPont reports Friday morning, investors will be in search of updates on what the tariffs mean for customer demand — spanning industries such as electronics, automotive and construction — rather than the company’s own import exposure. DuPont’s business in China, which is almost a fifth of its sales, will be a big focus, and executives will surely get questions about Beijing’s investigation into the firm . DuPont’s electronics spinoff planned for later this year figures to be discussed, as well. LSEG estimates: revenue of $94.3 billion and EPS of 95 cents. Rounding out the week alongside DuPont on Friday morning is electrical equipment supplier Eaton , which has seen its stock hit hard this year as investors questioned the sustainability of data center investments. That crucial business will be a topic of conversation, as well as the company’s direct tariff exposure and the secondary effect on customer demand in businesses including automotive. Order growth, project backlog and margins are important metrics to watch. LSEG estimates: revenue of $6.26 billion and EPS of $2.70. Week ahead Monday, April 28 Dallas Fed’s Texas Manufacturing Outlook Survey Before the bell: Roper Technologies (ROP), Domino’s Pizza (DPZ) After the close: Cadence Design Systems (CDS), Rambus (RMBS), NXP Semiconductor (NXPI), Nucor (NUE), Waste Management (WM), Noble Corporation (NE), Leggett & Platt (LEG) Tuesday, April 29 Census Bureau’s Monthly Wholesale Trade Survey at 8:30 a.m. ET The Conference Board’s Consumer Confidence Survey at 10 a.m. ET Job Openings and Labor Turnover Survey at 10 a.m. ET Before the bell: UPS (UPS), Honeywell (HON) , General Motors (GM), Pfizer (PFE), Coca-Cola (KO), JetBlue (JBLU), PayPal (PYPL), Kraft Heinz (KHC), Hilton Hotels (HLT), Deutsche Bank (DB), Adidas (ADS), Spotify (SPOT), Brinker International (EAT), Royal Caribbean (RCL) After the bell: Visa (V), Booking Holdings (BKNG), Starbucks (SBUX) , Mondelez International (MDLZ), Caesars Entertainment (CZR), PPG Industries (PPG), Expand Energy (EXE) Wednesday, April 30 ADP’s Employment Survey at 8:15 a.m. ET Gross Domestic Product, First Quarter Advance Estimate at 8:30 a.m. ET Personal Consumption Expenditures Price Index at 10 a.m. ET National Association of Realtors’ Pending Home Sales Index at 10 a.m. ET Before the bell: Caterpillar (CAT), Humana (HUM), GSK (GSK), Barclays (BCS), Airbus (AIR), Stanley Black & Decker (SWK), GE Healthcare (GEHC), Norwegian Cruise Line (NCL), International Paper (IP), Wingstop (WING), ADP (ADP) After the bell: Qualcomm (QCOM), Meta Platforms (META), Microsoft (MSFT), eBay (EBAY), Robinhood (HOOD), Teladoc Health (TDOC), KLA Corp (KLA), MGM Resorts (MGM), Canadian Pacific Kansas City (CP) Thursday, May 1 Initial Jobless Claims at 8:30 a.m. ET ISM’s Manufacturing PMI at 10 a.m. ET Before the bell: Eli Lilly (LLY), Linde (LIN), CVS Health (CVS), McDonald’s (MCD), Mastercard (MA), Intercontinental Exchange (ICE), Shake Shack (SHAK), Sirius XM (SIRI), Harley-Davidson (HOG), Biogen (BIIB), Moderna (MRNA), Wayfair (W), Cardinal Health (CAH), Roblox (RBLX) After the bell: Amgen (AMGN), Apple (AAPL), Amazon (AMZN), Roku (ROKU), Airbnb (ABNB), Block (XYZ), Motorola Solutions (MSI), Juniper Networks (JNP), Mohawk Industries (MHK), U.S. Steel (X), Reddit (RDDT), Live Nation (LYV), Stryker (SYK), EOG Resources (EOG), Ingersoll Rand (IR) Friday, May 2 April Nonfarm Payrolls Report at 8:30 a.m. ET Before the bell: Chevron (CVX), Exxon Mobil (XOM), Eaton (ETN), Cigna (CI), DuPont (DD), FuboTV (FUBO), Wendy’s (WEN), Shell (SHEL), T. Rowe Price (TROW), Apollo Global Management (APO) Saturday, May 3 Berkshire Hathaway (BRK) (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

A security guard works outside the New York Stock Exchange (NYSE) before the Federal Reserve announcement in New York City, U.S., September 18, 2024. 
Andrew Kelly | Reuters

The stock market bounce last week showed once again just how dependent Wall Street has become on the whims of the White House. More