You’re Buying Certainty. And the Art of the Bluff: Taking Stock

So much for keeping up with the day-to-day lurches from crisis to crisis. Somehow we always knew it was going to come down to the wire -- otherwise, where’s the leverage?

But let’s be clear -- the agreed upon trade “deal” as it’s already become known, is just Phase One, and for the most part, avoids the fresh tariffs that were due to go into effect this Sunday (the legal text is still in process). They would have impacted made-in-China smartphones, toys, tablets and laptops -- shares of Mattel (MAT) are among the winners this morning, up nearly 3% pre-market, extending a 4.4% regular session performance Thursday (watch HAS as well). Apple shares, too, are narrowly outpacing futures, up 0.4% vs the broader S&P which looks to notch another 11 handles on to its all-time highs set yesterday.