Opening Bell 12.5.18

Author:
Updated:
Original:

The Opening Bell is powered by The Water Coolest. (Confused? Don't worry, we've made you a new friend.)

b30108aa-a54f-11e8-8e48-aa42afc7ae42

I'm not a tariff, man ... I'm a tariff man [The Water Coolest]

Donny "The Tariff Man" Politics didn't even give his Argentinian goat cheese time to digest before he threw an economic wrench into the spokes of the tentative trade truce discussed at the G-20 with Chinese President Xi Jinping.

In a head scratching series of tweets the President called himself a "Tariff Man" and indicated that he'd be happy to keep tariffs in place should talks fail between the two countries. Of course he also added that he would be open to extending the truce should the need arise. Wait, what?

In addition to the confusion, cracks are already beginning to form in the foundation of the latest trade discussions. It's probably no coincidence that Washington and Beijing didn't issue a joint statement after the meet-n-greet on Saturday. Both countries have very different versions of the dinner's "outcome." In fact, China still won't even confirm the 90-day timeline reported by the White House.

And of course China has yet to acknowledge Trump's announcement on Sunday that "China has agreed to reduce and remove [40%] tariffs on cars coming into China from the U.S."

Coupled with a bond market that is pointing to an economic downturn, the uncertainty of a trade agreement (or truce for that matter) sent markets spiraling, with the Dow down nearly 800 points.

Bottom line: Da fuq?

‘Tariff Man’ Trump Says He May Extend Truce in China Trade War [Bloomberg]

Well just a second there, professor. We uh, we fixed the *glitch*. [The Water Coolest]

Wells, Wells, Wells, look who's back in the news. A computer glitch at Wells Fargo caused hundreds of people to lose their homes. Wells filed papers with the SEC last month to reveal that they accidentally denied 870 families loan modification requests over an eight-year period. This resulted in 545 of those homes to go into foreclosure. Is it too late to blame this on Wachovia?

A second Wells Fargo glitch results in the foreclosure of more homes [Digital Trends]

I been chewed up and spit out and booed off stage [The Water Coolest]

Presidential candidate, er, JPMorgan CEO Jamie Dimon was interrupted not once, but twice by protesters at a Goldman Sachs' Financial Conference yesterday. What bone(s) could SJWs have to pick with the longest tenured Wall Street CEO? Lending to facilities that detain immigrants, of course.

Jamie Dimon interrupted twice by shouting protesters at Goldman banking conference [CNBC]

Ready to get The Water Coolest delivered to your inbox daily? Signup now.

Related