Dan Celia: Weekly Market Trends, China Bankruptcy, and the Afghan Crisis
PHILADELPHIA CREAM – Nationally syndicated host and biblical investment authority Dan Celia discussed market trends this week, the potential problem of China’s bankruptcy and the situation with Afghanistan and the US borders.
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Weekly Market Trends
Celia said: “Tuesday has certainly been an interesting day in the markets. At one point, the Dell was up over 300 points. The S&P was also up. They both completed negative territory, but not by much. Once again, the NASDAQ made a slight gain, almost a quarter of 1%, to end up in the green, as did the Russell 2000, which is the index for small caps.
“Everyone is talking about what’s going on in China. Yesterday all analysts claimed it was simply a problem with China and the bankruptcy of their big real estate trust. The markets are at a point where they are looking for every possible excuse for the days of decline without saying that the total dysfunction in Washington will only get worse, which will only make the economy worse and then make the markets worse.
The Afghan crisis
Celia added, “Millions of people are crossing the border again, impacting markets and the overall cost to government. The situation with Afghanistan is a very negative position for the United States. People are watching the United States continue to weaken. Consumer confidence is down and the FedEx numbers weren’t good. They talked about the inflation of their wages, not to mention the shortage of workers. There are many excuses that we will likely continue to hear, but the only thing we know we will not hear is the incompetence of this administration. “