October 14, 2025

Markets:

Stock futures slipped Tuesday, extending last week’s late-session selloff as renewed U.S.–China trade tension headlines continue to make the rounds.

Selling pressure was led by the same AI names that fueled much of this year’s bull run — Nvidia and AMD each dropped more than 2%, while Tesla and Oracle were down roughly 3%.

This latest pullback followed news that both China and the U.S. are imposing additional port fees on each other’s cargo ships — another escalation in their ongoing trade dispute. Adding to the tension, China also sanctioned five U.S. subsidiaries of South Korea’s Hanwha Ocean.

Trade friction has been building since late last week, when President Trump floated an additional 100% tariff on Chinese imports — a move that triggered Friday’s 800-point Dow decline and the S&P 500’s worst day since April 10.

Tuesday’s weakness came despite a solid round of earnings: J&J, JPMorgan, Wells Fargo, and Goldman Sachs all reported results that topped expectations.

Portfolio:

Solid start to the week and now, here comes another classic headline:

“Fears around U.S.–China trade relations continue to percolate.”

You have to laugh at this one. If you’ve been with us long enough, you already know — selling tariff headlines has been the wrong move every single time, yet traders keep falling for it. Use this moment as an opportunity: build your watchlist, stay patient, and prepare to act.

We’re simply waiting for the next predictable spin: “Talks progressing well” or “China open to negotiations.” It’s the same playbook — headline risk is short term, and we know how to trade through it.

We enter today’s session holding positions in LAC, CDZI, TSLL and ONDS. We’re looking to add, but will remain patient in case a response from the administration hits midday — that’s typically when these headlines cycle.