US imposes its latest, 15% tariff on $112 billion China goods; there could be more in December
On Sunday, the U.S. kicked off its latest round of tariff on China goods.
The U.S.is imposing 15% tariff rate on a range of imports from China, including footwear, smart watches and flat-panel televisions - which are largely consumer goods. As part of this fresh round of levies, tariffs on $112 billion worth of Chinese goods have already been slapped on Sunday, with plans to impose duties on another $160 billion in mid-December.
The tariffs prior to Sunday’s announcement were more focused on intermediate inputs like industrial components.
According to the American Apparel and Footwear Association, 91.6% of Chinese apparel imports will be affected by the new round of tariffs, while 68.4% of home textiles and 52.5% of footwear would be hit as well.
The remainder of the tariffs on China, planned for December, are expected to include cell phones and laptops as well.
However, U.S. President Donald Trump has indicated that U.S. negotiations/talks with China are still underway, such as their scheduled meetings in September. The U.S. administrators are splitting up the tariff impositions apparently to mitigate the cost effect on during holiday shopping season.
SPY's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for SPY turned positive on May 26, 2023. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 25, 2023. You may want to consider a long position or call options on SPY as a result. In of 67 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 361 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 425 cases where SPY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 64 cases where SPY's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SPY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SPY broke above its upper Bollinger Band on May 18, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
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The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
