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See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Gold Benefits from Weak Dollar and Renewed Safe-Haven Demand Amid Tariff Fears and Monetary Easing Expectations
Waleed Farouk Gold prices recorded a significant increase in both local and global markets during Monday's trading session, supported by the weakening of the US dollar and renewed demand for safe-haven assets amid ongoing uncertainty over US trade and monetary policies. Domestically, gold prices rose by approximately EGP 5, with the 21-karat gram reaching EGP 4,655. Globally, the ounce climbed by $17 to settle around $3,567. The 24-karat gram recorded EGP 5,320, the 18-karat stood at EGP 3,990, and the 14-karat at EGP 3,104. Meanwhile, the gold pound was priced at EGP 37,240. Gold had ended last week's trading with a slight decline of EGP 10, with the 21-karat gram opening at EGP 4,660 and closing at EGP 4,650, while the global ounce dropped by 0.1%, from $3,355 to $3,350. Several factors boosted gold at the start of the week, most notably the US dollar index retreating from monthly highs following dovish comments by Federal Reserve Board member Christopher Waller last week, which strengthened expectations for a rate cut in September. Additional support came from renewed trade threats by former President Donald Trump, who proposed imposing tariffs of up to 20% on imports from the European Union starting August 1, prompting investors to seek refuge in gold as a safe haven amid fears of economic fallout. Despite these supportive conditions, investors remained cautious about making strong bullish bets, especially amid rising expectations that the Federal Reserve may delay any rate cut, given signals that tariffs could impact consumer prices. This would provide additional support for the dollar and limit gains in non-yielding assets like gold. Markets currently anticipate two rate cuts of 25 basis points each before the end of the year. However, comments by Fed Chair Jerome Powell regarding the potential inflationary impact of new tariffs have added more uncertainty to the monetary policy outlook, diminishing gold's appeal as an inflation hedge in a high-yield environment. The University of Michigan's Consumer Sentiment Index rose to 61.8 in July, reflecting growing optimism about current and future economic conditions, which in turn lent support to the dollar and limited gold's upside. Nevertheless, declining long-term inflation expectations—from 4% to 3.6%—and short-term forecasts—from 5% to 4.4%—grant the Fed more flexibility in managing policy without rushing to cut rates, providing a counterbalance in the broader outlook. Markets this week are closely watching several key economic indicators that may shape the direction of global markets. These include a speech by Fed Chair Jerome Powell in Washington on Tuesday, existing home sales data on Wednesday, the European Central Bank's interest rate decision, weekly US jobless claims, PMI data, and new home sales on Thursday, as well as durable goods orders—a leading indicator of corporate investment—on Friday. Despite supportive monetary and geopolitical conditions, gold remains range-bound and lacks strong momentum to break through key resistance levels. The market's direction in the short to medium term remains contingent on developments in US monetary policy, global trade tensions, and economic growth data. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs News Flights suspended at Port Sudan Airport after Drone Attacks
Perth Now
5 days ago
- Business
- Perth Now
Data, earnings keep S&P 500, Nasdaq at record levels
The S&P 500 and the Nasdaq edged to another all-time high, building on the previous day's record run as strong economic data and earnings reports painted a picture of a resilient US economy. The University of Michigan's Consumer Sentiment Index rose to 61.8 this month from a final reading of 60.7 in June. Economists polled by Reuters had forecast the index rising to 61.5. In early trading on Friday, the Dow Jones Industrial Average fell 39.49 points, or 0.09 per cent, to 44,445.00, the S&P 500 gained 13.97 points, or 0.22 per cent, to 6,311.33 and the Nasdaq Composite gained 52.84 points, or 0.25 per cent, to 20,938.49. On Thursday, the two indexes ended at record levels, thanks to upbeat retail sales and jobless claims, signaling a healthy US economy and giving the Federal Reserve room to pause and watch for tariff-driven inflation. Ten of 11 S&P sectors were on the rise, led by utilities , which jumped 1.7 per cent to an all-time high. Meanwhile, Tesla shares jumped 3.4 per cent to boost the main index. Netflix dropped 4.5 per cent despite the success of "Squid Game" helping it surpass earnings forecasts. The streaming giants also lifted its annual revenue outlook. Similarly, American Express outpaced second-quarter profit estimates, buoyed by strong spending from its affluent cardholders. However, its shares were down 2.6 per cent. Brokerage firm Charles Schwab gained 3.4 per cent after its profit rose nearly 60 per cent in the second quarter. The S&P 500 and the Nasdaq were on track to end the week on a positive note, while the Dow looked largely flat for the week so far. With the August 1 tariff deadline looming, uncertainty over President Donald Trump's trade policy also lingered in the background. Adding to the jitters, reports of a possible ouster of Fed Chair Jerome Powell briefly rattled markets, though Trump was quick to shoot down those reports. Amid growing criticism by Trump of Powell over the reluctance to cut interest rates, Fed Governor Chris Waller said he would accept the job as Fed chair if asked by the president. "It's a bit of everything. Mixed economic data, tariffs, Trump criticising Powell creating a bit of confusion and therefore a lack of direction in markets," said Daniela Hathorn, senior market analyst at Against this backdrop, traders now see a 56 per cent chance of a Federal Reserve rate cut in September, while a July move is all but off the table, according to CME's FedWatch tool. As the second-quarter earnings season gets underway, early results from 59 S&P 500 companies that reported showed more than 81.4 per cent have topped Wall Street's earnings expectations, according to LSEG I/B/E/S data. Cryptocurrency stocks rose after the US House of Representatives passed a bill that would develop a regulatory framework for cryptocurrencies. Robinhood Markets and Coinbase Global gained 4.7 per cent and 6.4 per cent, respectively. Chevron closed its $US55 billion ($A84 billion) acquisition of Hess after winning a landmark legal battle against larger rival Exxon Mobil. Hess jumped 7.6 per cent in early trading. Advancing issues outnumbered decliners by a 2.52-to-1 ratio on the NYSE, and by a 1.9-to-1 ratio on the Nasdaq. The S&P 500 posted 36 new 52-week highs and three new lows, while the Nasdaq Composite recorded 74 new highs and 17 new lows.
The Advertiser
5 days ago
- Business
- The Advertiser
Data, earnings keep S&P 500, Nasdaq at record levels
The S&P 500 and the Nasdaq edged to another all-time high, building on the previous day's record run as strong economic data and earnings reports painted a picture of a resilient US economy. The University of Michigan's Consumer Sentiment Index rose to 61.8 this month from a final reading of 60.7 in June. Economists polled by Reuters had forecast the index rising to 61.5. In early trading on Friday, the Dow Jones Industrial Average fell 39.49 points, or 0.09 per cent, to 44,445.00, the S&P 500 gained 13.97 points, or 0.22 per cent, to 6,311.33 and the Nasdaq Composite gained 52.84 points, or 0.25 per cent, to 20,938.49. On Thursday, the two indexes ended at record levels, thanks to upbeat retail sales and jobless claims, signaling a healthy US economy and giving the Federal Reserve room to pause and watch for tariff-driven inflation. Ten of 11 S&P sectors were on the rise, led by utilities , which jumped 1.7 per cent to an all-time high. Meanwhile, Tesla shares jumped 3.4 per cent to boost the main index. Netflix dropped 4.5 per cent despite the success of "Squid Game" helping it surpass earnings forecasts. The streaming giants also lifted its annual revenue outlook. Similarly, American Express outpaced second-quarter profit estimates, buoyed by strong spending from its affluent cardholders. However, its shares were down 2.6 per cent. Brokerage firm Charles Schwab gained 3.4 per cent after its profit rose nearly 60 per cent in the second quarter. The S&P 500 and the Nasdaq were on track to end the week on a positive note, while the Dow looked largely flat for the week so far. With the August 1 tariff deadline looming, uncertainty over President Donald Trump's trade policy also lingered in the background. Adding to the jitters, reports of a possible ouster of Fed Chair Jerome Powell briefly rattled markets, though Trump was quick to shoot down those reports. Amid growing criticism by Trump of Powell over the reluctance to cut interest rates, Fed Governor Chris Waller said he would accept the job as Fed chair if asked by the president. "It's a bit of everything. Mixed economic data, tariffs, Trump criticising Powell creating a bit of confusion and therefore a lack of direction in markets," said Daniela Hathorn, senior market analyst at Against this backdrop, traders now see a 56 per cent chance of a Federal Reserve rate cut in September, while a July move is all but off the table, according to CME's FedWatch tool. As the second-quarter earnings season gets underway, early results from 59 S&P 500 companies that reported showed more than 81.4 per cent have topped Wall Street's earnings expectations, according to LSEG I/B/E/S data. Cryptocurrency stocks rose after the US House of Representatives passed a bill that would develop a regulatory framework for cryptocurrencies. Robinhood Markets and Coinbase Global gained 4.7 per cent and 6.4 per cent, respectively. Chevron closed its $US55 billion ($A84 billion) acquisition of Hess after winning a landmark legal battle against larger rival Exxon Mobil. Hess jumped 7.6 per cent in early trading. Advancing issues outnumbered decliners by a 2.52-to-1 ratio on the NYSE, and by a 1.9-to-1 ratio on the Nasdaq. The S&P 500 posted 36 new 52-week highs and three new lows, while the Nasdaq Composite recorded 74 new highs and 17 new lows. The S&P 500 and the Nasdaq edged to another all-time high, building on the previous day's record run as strong economic data and earnings reports painted a picture of a resilient US economy. The University of Michigan's Consumer Sentiment Index rose to 61.8 this month from a final reading of 60.7 in June. Economists polled by Reuters had forecast the index rising to 61.5. In early trading on Friday, the Dow Jones Industrial Average fell 39.49 points, or 0.09 per cent, to 44,445.00, the S&P 500 gained 13.97 points, or 0.22 per cent, to 6,311.33 and the Nasdaq Composite gained 52.84 points, or 0.25 per cent, to 20,938.49. On Thursday, the two indexes ended at record levels, thanks to upbeat retail sales and jobless claims, signaling a healthy US economy and giving the Federal Reserve room to pause and watch for tariff-driven inflation. Ten of 11 S&P sectors were on the rise, led by utilities , which jumped 1.7 per cent to an all-time high. Meanwhile, Tesla shares jumped 3.4 per cent to boost the main index. Netflix dropped 4.5 per cent despite the success of "Squid Game" helping it surpass earnings forecasts. The streaming giants also lifted its annual revenue outlook. Similarly, American Express outpaced second-quarter profit estimates, buoyed by strong spending from its affluent cardholders. However, its shares were down 2.6 per cent. Brokerage firm Charles Schwab gained 3.4 per cent after its profit rose nearly 60 per cent in the second quarter. The S&P 500 and the Nasdaq were on track to end the week on a positive note, while the Dow looked largely flat for the week so far. With the August 1 tariff deadline looming, uncertainty over President Donald Trump's trade policy also lingered in the background. Adding to the jitters, reports of a possible ouster of Fed Chair Jerome Powell briefly rattled markets, though Trump was quick to shoot down those reports. Amid growing criticism by Trump of Powell over the reluctance to cut interest rates, Fed Governor Chris Waller said he would accept the job as Fed chair if asked by the president. "It's a bit of everything. Mixed economic data, tariffs, Trump criticising Powell creating a bit of confusion and therefore a lack of direction in markets," said Daniela Hathorn, senior market analyst at Against this backdrop, traders now see a 56 per cent chance of a Federal Reserve rate cut in September, while a July move is all but off the table, according to CME's FedWatch tool. As the second-quarter earnings season gets underway, early results from 59 S&P 500 companies that reported showed more than 81.4 per cent have topped Wall Street's earnings expectations, according to LSEG I/B/E/S data. Cryptocurrency stocks rose after the US House of Representatives passed a bill that would develop a regulatory framework for cryptocurrencies. Robinhood Markets and Coinbase Global gained 4.7 per cent and 6.4 per cent, respectively. Chevron closed its $US55 billion ($A84 billion) acquisition of Hess after winning a landmark legal battle against larger rival Exxon Mobil. Hess jumped 7.6 per cent in early trading. Advancing issues outnumbered decliners by a 2.52-to-1 ratio on the NYSE, and by a 1.9-to-1 ratio on the Nasdaq. The S&P 500 posted 36 new 52-week highs and three new lows, while the Nasdaq Composite recorded 74 new highs and 17 new lows. The S&P 500 and the Nasdaq edged to another all-time high, building on the previous day's record run as strong economic data and earnings reports painted a picture of a resilient US economy. The University of Michigan's Consumer Sentiment Index rose to 61.8 this month from a final reading of 60.7 in June. Economists polled by Reuters had forecast the index rising to 61.5. In early trading on Friday, the Dow Jones Industrial Average fell 39.49 points, or 0.09 per cent, to 44,445.00, the S&P 500 gained 13.97 points, or 0.22 per cent, to 6,311.33 and the Nasdaq Composite gained 52.84 points, or 0.25 per cent, to 20,938.49. On Thursday, the two indexes ended at record levels, thanks to upbeat retail sales and jobless claims, signaling a healthy US economy and giving the Federal Reserve room to pause and watch for tariff-driven inflation. Ten of 11 S&P sectors were on the rise, led by utilities , which jumped 1.7 per cent to an all-time high. Meanwhile, Tesla shares jumped 3.4 per cent to boost the main index. Netflix dropped 4.5 per cent despite the success of "Squid Game" helping it surpass earnings forecasts. The streaming giants also lifted its annual revenue outlook. Similarly, American Express outpaced second-quarter profit estimates, buoyed by strong spending from its affluent cardholders. However, its shares were down 2.6 per cent. Brokerage firm Charles Schwab gained 3.4 per cent after its profit rose nearly 60 per cent in the second quarter. The S&P 500 and the Nasdaq were on track to end the week on a positive note, while the Dow looked largely flat for the week so far. With the August 1 tariff deadline looming, uncertainty over President Donald Trump's trade policy also lingered in the background. Adding to the jitters, reports of a possible ouster of Fed Chair Jerome Powell briefly rattled markets, though Trump was quick to shoot down those reports. Amid growing criticism by Trump of Powell over the reluctance to cut interest rates, Fed Governor Chris Waller said he would accept the job as Fed chair if asked by the president. "It's a bit of everything. Mixed economic data, tariffs, Trump criticising Powell creating a bit of confusion and therefore a lack of direction in markets," said Daniela Hathorn, senior market analyst at Against this backdrop, traders now see a 56 per cent chance of a Federal Reserve rate cut in September, while a July move is all but off the table, according to CME's FedWatch tool. As the second-quarter earnings season gets underway, early results from 59 S&P 500 companies that reported showed more than 81.4 per cent have topped Wall Street's earnings expectations, according to LSEG I/B/E/S data. Cryptocurrency stocks rose after the US House of Representatives passed a bill that would develop a regulatory framework for cryptocurrencies. Robinhood Markets and Coinbase Global gained 4.7 per cent and 6.4 per cent, respectively. Chevron closed its $US55 billion ($A84 billion) acquisition of Hess after winning a landmark legal battle against larger rival Exxon Mobil. Hess jumped 7.6 per cent in early trading. Advancing issues outnumbered decliners by a 2.52-to-1 ratio on the NYSE, and by a 1.9-to-1 ratio on the Nasdaq. The S&P 500 posted 36 new 52-week highs and three new lows, while the Nasdaq Composite recorded 74 new highs and 17 new lows. The S&P 500 and the Nasdaq edged to another all-time high, building on the previous day's record run as strong economic data and earnings reports painted a picture of a resilient US economy. The University of Michigan's Consumer Sentiment Index rose to 61.8 this month from a final reading of 60.7 in June. Economists polled by Reuters had forecast the index rising to 61.5. In early trading on Friday, the Dow Jones Industrial Average fell 39.49 points, or 0.09 per cent, to 44,445.00, the S&P 500 gained 13.97 points, or 0.22 per cent, to 6,311.33 and the Nasdaq Composite gained 52.84 points, or 0.25 per cent, to 20,938.49. On Thursday, the two indexes ended at record levels, thanks to upbeat retail sales and jobless claims, signaling a healthy US economy and giving the Federal Reserve room to pause and watch for tariff-driven inflation. Ten of 11 S&P sectors were on the rise, led by utilities , which jumped 1.7 per cent to an all-time high. Meanwhile, Tesla shares jumped 3.4 per cent to boost the main index. Netflix dropped 4.5 per cent despite the success of "Squid Game" helping it surpass earnings forecasts. The streaming giants also lifted its annual revenue outlook. Similarly, American Express outpaced second-quarter profit estimates, buoyed by strong spending from its affluent cardholders. However, its shares were down 2.6 per cent. Brokerage firm Charles Schwab gained 3.4 per cent after its profit rose nearly 60 per cent in the second quarter. The S&P 500 and the Nasdaq were on track to end the week on a positive note, while the Dow looked largely flat for the week so far. With the August 1 tariff deadline looming, uncertainty over President Donald Trump's trade policy also lingered in the background. Adding to the jitters, reports of a possible ouster of Fed Chair Jerome Powell briefly rattled markets, though Trump was quick to shoot down those reports. Amid growing criticism by Trump of Powell over the reluctance to cut interest rates, Fed Governor Chris Waller said he would accept the job as Fed chair if asked by the president. "It's a bit of everything. Mixed economic data, tariffs, Trump criticising Powell creating a bit of confusion and therefore a lack of direction in markets," said Daniela Hathorn, senior market analyst at Against this backdrop, traders now see a 56 per cent chance of a Federal Reserve rate cut in September, while a July move is all but off the table, according to CME's FedWatch tool. As the second-quarter earnings season gets underway, early results from 59 S&P 500 companies that reported showed more than 81.4 per cent have topped Wall Street's earnings expectations, according to LSEG I/B/E/S data. Cryptocurrency stocks rose after the US House of Representatives passed a bill that would develop a regulatory framework for cryptocurrencies. Robinhood Markets and Coinbase Global gained 4.7 per cent and 6.4 per cent, respectively. Chevron closed its $US55 billion ($A84 billion) acquisition of Hess after winning a landmark legal battle against larger rival Exxon Mobil. Hess jumped 7.6 per cent in early trading. Advancing issues outnumbered decliners by a 2.52-to-1 ratio on the NYSE, and by a 1.9-to-1 ratio on the Nasdaq. The S&P 500 posted 36 new 52-week highs and three new lows, while the Nasdaq Composite recorded 74 new highs and 17 new lows.
Time of India
5 days ago
- Business
- Time of India
US consumer sentiment improves in July
U.S. consumer sentiment improved in July, and while inflation expectations continued to decline, households still saw substantial risk of price pressures increasing in the future. The University of Michigan 's Surveys of Consumers on Friday said its Consumer Sentiment Index rose to 61.8 this month from a final reading of 60.7 in June. Economists polled by Reuters had forecast the index would increase to 61.5. Explore courses from Top Institutes in Select a Course Category Finance others Others Management Project Management Data Science CXO PGDM Leadership Digital Marketing Data Science healthcare Cybersecurity MBA Public Policy Product Management Design Thinking Degree Healthcare Artificial Intelligence MCA Technology Operations Management Data Analytics Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details "Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example if trade policy stabilizes for the foreseeable future," Joanne Hsu, the director of the Surveys of Consumers, said in a statement. "At this time, the interviews reveal little evidence that other policy developments, including the recent passage of the tax and spending bill , moved the needle much on consumer sentiment." Consumers' 12-month inflation expectations dropped to 4.4% from 5.0% in June. Long-run inflation expectations fell to 3.6% from 4.0% last month. "Both readings are the lowest since February 2025 but remain above December 2024, indicating that consumers still perceive substantial risk that inflation will increase in the future," Hsu said. Live Events
The Hill
6 days ago
- Business
- The Hill
America's economic waters will calm when politicians stop throwing boulders
It's fascinating to throw stones into a lake, watch ripples interact and spread, and speculate about when the water will become calm again. But when rocks and boulders of policy uncertainty hit the economic waters, predicting the outcome of the resulting ripples and waves requires more than speculation. America's waters are still trembling from past policy boulders, but in some ways the lake has seemed on the verge of becoming calm again following COVID and major Biden and Trump administration initiatives. Now, we must watch how new, spreading waves interact with receding ripples. Let's assess what we can at this point. With the dawn of the decade and COVID, massive policy boulders fell. There were huge transfers from the national-deficit purse to individual and business bank accounts and a shutdown of the economy. The results were more like tidal waves than ripples. The waters were still troubled in 2025 when Donald Trump returned with 'golden-age' promises. In rapid fire, more boulders hit the water: DOGE cuts, government layoffs, deported immigrants and massive ' Liberation Day ' worldwide tariff announcements. To get a handle on all this, there are two kinds of economic indicators to consider: soft and hard. Soft indicators reflect what people think about the economy: Are they optimistic or pessimistic? Favoring long-run investments or sitting on their hands and waiting for fewer ripples? Hard indicators provide the data: Has GDP growth accelerated? Industrial production? Employment or business startups? The Conference Board's Consumer Confidence Indicator and University of Michigan's Consumer Sentiment Index are two closely watched soft indicators. Both have multiple components, some focused on the present and others on the future. Both recently took positive turns that can be attributed to growing comfort with a more relaxed and predictable Trump tariff policy. The Michigan index recently rose significantly for the first time in six months following 'steady drops that left the preliminary number at the second-lowest level in the nearly 75-year history of the survey.' Affirming similar signals, consumer confidence rose significantly in May (but declined in June with consumers again expressing concern over tariffs). The National Federation of Independent Businesses produces a member-derived monthly optimism index that, in June, was positive for the second consecutive month. It had languished in weak territory from January 2021 through October 2024. Finally, it seems, small businesses were observing calming waters. Next, consider the Economic Policy Uncertainty Index, a daily measure based on the frequency of the word 'uncertainty' observed in a large sample of major daily newspapers. On June 15, the index registered 521, down from a high of 976 recorded on April 5, (the first reading capturing the effects of the April 2 'Liberation Day' announcement and the highest since COVID). Yet ripples were still present. Due to high and rising interest rates, we get a negative outlook from the National Association of Home Builders-Wells Fargo Housing Market Index, which fell from 34 to 32, the lowest reading since December 2022. When it comes to hard indicators, the picture has been a similar mix of encouraging and uncertain. First-quarter real GDP growth came in at minus-0.5 percent following the previous quarter's 2.4. percent. The negative number was worsened by the efforts of U.S. importers to bring in goods before higher tariffs took hold (imports subtract from GDP). Reflecting a hangover from the same tariff-fueled spring buying frenzy, May retail sales fell 0.9 percent relative to April's numbers. On the labor front, May payroll employment growth of 139,000 workers was below the 149,000 average for the past 12 months but still decent. Industrial production growth declined 0.5 percent in April but rose 0.1 percent in May. A loss of construction jobs due to high interest rates was the largest sector drag on April's employment numbers. Tariffs seemed to be the main source of uncertainty. More germane as a prosperity indicator, new business formations have been occurring at a sustained high level. Better still, important measures finally suggest that one ripple that has widened for a half-decade — the inflation effects of COVID — is settling and that tariff-driven inflation is for now being observed at a low level. Yes, we seemed to be getting beyond COVID, DOGE and Liberation Day's troubled waters when Trump decided to bomb Iran's nuclear bomb-making activities. The Middle East now rocks with another wave of uncertainty. U.S. allies and adversaries may throw boulders of their own. For now, we can expect volatile petroleum markets, higher energy prices and perhaps complications regarding inflation and interest rates. Will calmer waters and peace emerge quickly, or will more boulders hit the water? We can only speculate and cannot fully account for future boulders. But many are under our control and will stop falling when our elected leaders stop dropping them. Bruce Yandle is a distinguished adjunct fellow with the Mercatus Center at George Mason University and dean emeritus of the Clemson University's College of Business and Behavioral Sciences.
