|Bid||271.61 x 300|
|Ask||271.62 x 5700|
|Day's Range||271.37 - 274.40|
|52 Week Range||231.61 - 286.58|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.09%|
In the previous article, we saw that billionaire investor Richard Bernstein shared his views on tariffs and how they create an inflationary situation in the economy. Bernstein said, “Tariffs, by definition, are always inflationary, and inflation is the enemy of income.” Inflation expectations have been improving since June 2016.
With all this in mind, disciplined investors who focus on fundamental data and treat noise appropriately are likely to be rewarded in our current market and economic environment.
On March 14, 2018, Richard Bernstein, billionaire investor and CEO and CIO (chief investment officer) of Richard Bernstein Advisors, shared his view on tariffs, inflation, and income in his March 2018 insights report. After President Donald Trump’s announcement about import tariffs on steel and aluminum on March 1, major US indexes such as the SPDR S&P 500 ETF (SPY), the SPDR Dow Jones Industrial Average ETF (DIA), and the PowerShares QQQ ETF (QQQ) fell 1.3%, 1.7%, and 1.3%, respectively, on the day.
For the week ending March 16, the S&P 500 Index closed at 2,752.01, a fall of 1.2%, as news about a possible second round of import tariffs could be announced soon and because of the increased political uncertainty at the White House. Two of the major S&P 500 sectors, utilities (XLU) and the real estate (XHB), managed to record gains last week, while the financials (XLF) and the materials sectors were the worst-performing sectors last week. Large speculators of the S&P 500 Index increased their net bullish positions last week.
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According to data provided by the U.S. Bureau of Labor Statistics, the US Consumer Price Index, or the inflation index, rose 0.2% in February compared to a 0.5% rise in January 2018. This inflation figure met the market expectation of a 0.2% rise. Softer improvement in the inflation index in February is mainly due to the improvement in prices for the apparel, motor vehicle insurance, and shelter indexes.
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