Keep calm and brace for trade impact. What will the newest round of tariffs cost US households? The Federal Reserve Bank of New York estimates this cost to be around $831 a year. Or, the price of a new Xbox and 4K TV. But who’s counting. This latest figure does not take into account China’s newest tariff increases on US goods set to begin on June 1.
Silver linings. While this week marks the fifth straight weekly loss for the Dow, it also represents a great time to potentially do one of two things. A.) Harvest losses in your taxable accounts to offset your capital gains. B.) Rebalance your portfolio (use proceeds from some of your best performing investments to purchase shares of your investments hit hardest by the last few weeks at a discount).
Brexit. While Britain has yet to find a way to leave the European Union, they have found a way to remove Prime Minister Theresa May from office. Effective June 7, the U.K. Prime Minister will be stepping down.
Still confused on what Brexit means? BBC News has an article with everything you could ever want to know on the topic here.
What I’m Reading:
Did you know that Australia hasn’t had a recession in 28 years? Barron’s has a great article on why the US isn’t slowing down either: The U.S. Economic Expansion Is About to Break Records. Can It Last?
Unhappy with how Game of Thrones ended? One fan decided to do their part by creating a petition you can sign here.
Have a great Memorial Day weekend everyone. We’ll see you next week!
*These are the general views of Stanton Burns and they should not be construed as investment advice for any individual. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Stanton Burns does not maintain positions in any securities mentioned as of the writing of this article. Past performance is historical and does not guarantee future results.