PHILADELPHIA – Nationally syndicated host and biblical investing authority Dan Celia discussed this week’s market trends, the potential issue with China’s bankruptcy, and the situation with Afghanistan and American borders.
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Weekly Market Trends
Celia stated, “Tuesday was certainly an interesting day in the markets. At one point, the Dell was up over 300 points. The S&P was up as well. They both finished a negative territory, but not by a lot. Once again, the NASDAQ did eke out a bit of a gain, almost a quarter of 1%, to finish in the green, as did the Russell 2000, which is the index of small caps.
China's Bankruptcy
“Everybody is talking about what's going on in China. All the analysts yesterday were claiming it was merely a problem with China and the bankruptcy of their big real estate trust. The markets are at a point where they're looking for every excuse possible for down days without saying that the total dysfunction in Washington is only going to get worse, which will only make the economy worse, followed by making the markets worse.”
The Afghanistan Crisis
Celia further commented, “Millions of people are crossing the border again, which is impacting markets and overall cost to the government. The situation with Afghanistan is very negative positioning for the United States. People are watching the U.S. continue to get weaker and weaker. Consumer sentiment is down, and FedEx numbers were not good. They talked about their wage inflation, not to mention a lack of workers. There are many excuses that we are likely to continue to hear, but the one thing we know we won't hear is anything about the ineptitude of this administration.”
