Gold

Washington Creates Buzz 24x7

Jul 22, 2025 3 min read paid

Can't we get a day without news coming out of the White House? Yesterday, US Treasury Secretary Scott Bessent called for an "exhaustive internal review" of the Fed's "non-monetary policy operations." He accused the central bank of "significant mission creep." He did so on CNBC in the morning. In a lengthy post on X, Bessent sought to clarify his remarks

Ed Yardeni

Russian Roulette, the Dollar, and Gold

Jul 14, 2025 3 min read paid

The US stock market held up very well today in the face of Trump's escalation of his trade war with the world over the weekend. Maybe that's because he threatened that his latest tariff salvo won't be fired until August 1 (i.e., Liberation Day II). So there is still time to negotiate trade deals. Today, he also threatened to impose 100% "secondary&

Ed Yardeni

A Seinfeld Kinda Day: Nothing Really Happened

May 5, 2025 3 min read paid

Not much happened today in either the stock market or the bond market. Dull days are good for a change. The markets are no longer responding to every comment coming out of the White House. On Sunday, President Donald Trump called Fed Chair Jerome Powell "a total stiff." But he also said that he will not remove the Fed Chair. Today, Treasury Secretary Scott Bessent observed, "The

Ed Yardeni

POTUS Blinks

Apr 23, 2025 3 min read paid

President Donald Trump blinked. So stock prices rose. Late Tuesday, he said that he has "no intention" of firing Jerome Powell, whose term as Fed chair will end in May 2026. That's after berating Powell for the past few days and threatening to fire him. Furthermore, Trump appeared to soften his stance on the US-China trade war on Tuesday, telling an Oval Office press conference that

Ed Yardeni

Damage Assessment

Apr 21, 2025 4 min read paid

Stock prices fell sharply today in response to President Donald Trump's recent unseemly barrage of hostile tweets directed at Fed Chair Jerome Powell. Trump seems to be setting Powell up to be the fall guy if Trump's Tariff Turmoil (TTT) causes a recession later this year. Also unnerving stock prices was a warning from Beijing to all its trading partners against succumbing to US pressure to

Ed Yardeni

Gold Is Glittering

Apr 17, 2025 2 min read

We've been bullish on gold since it broke out above $2,000 per ounce at the end of February 2024. It has been trading in an upward channel since then (chart). It soared to $2,600 by the end of last year. In recent days, it has jumped to a record $3,300, which is the upper end of the channel. Our $4,000 target by the end

Ed Yardeni

Trump Making Powell The Fall Guy Again

Apr 17, 2025 3 min read paid

As we've said before, any day without Trump Tariff Turmoil (TTT) is a good day for financial markets. Despite UnitedHealth Group’s losing roughly a quarter of its value today on poor earnings and higher medical costs, the S&P 500 stayed mostly above yesterday's close all day. Even the Russell 2000 was up today. While Treasury Secretary Scott Bessent reportedly made progress on a

Ed Yardeni

Stocks Greet Liberation Day With Bronx Cheers

Apr 2, 2025 3 min read

President Donald Trump and his guests at the Rose Garden today celebrated Liberation Day. Stock investors won't be celebrating tomorrow based on the plunge in futures prices tied to the DJIA, S&P 500, and the Nasdaq-100. The Stock Market Vigilantes are not happy. Trump announced that on April 5, his administration will impose a 10% tariff rate on all imports from all of America's

Ed Yardeni

'Liberation Day' Coming One Day After April Fools' Day

Mar 18, 2025 3 min read paid

The stock market rally of the past two days faded today. The S&P 500 fell -1.1%, just shy of correction territory. Even Nvidia fell 4.3%, even though the company announced new chips and a strategic collaboration with GM today. The 10-year US Treasury bond yield has been hovering around 4.30% since late February. The price of gold rose to another record high (chart). We suspect

Ed Yardeni
Eric Wallerstein

Getting Dizzy? Buy Gold.

Mar 3, 2025 3 min read paid

Stock prices are falling because Trump Turmoil 2.0 is making investors dizzy. Just today, President Donald Trump confirmed that 25% tariffs will be imposed on Canada and Mexico tomorrow. He also said that the US will impose tariffs on agricultural products on April 2. The President ordered a pause on all US military aid to Ukraine, three days after he kicked Ukrainian President Volodymyr Zelensky out of the White

Ed Yardeni
Eric Wallerstein

Dollar Still Dominant Despite Recent Weakness

Feb 24, 2025 4 min read paid

The DXY Dollar Index has fallen 3.0% since it peaked on January 13. Weaker-than-expected consumer spending and sentiment as well as gains in foreign currencies have weighed on the dollar. DeepSeek might also have contributed to the recent weakness of the dollar. But despite some near-term selling, the DXY is still up 3.0% since the November 5 election (chart). It also remains at one of its highest levels

Ed Yardeni
Eric Wallerstein

Buying What Glitters

Feb 18, 2025 2 min read paid

A late-day rally sent the S&P 500 up 0.24% to a new record high of 6,130. But gold had a much better day, jumping 1.8% to a record $2,952 per ounce. This "safe haven" asset is now up 10.6% ytd, better than the S&P 500's 4.5% and bitcoin's 1.8% gains so far this

Ed Yardeni
Eric Wallerstein

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