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The Great Wall of… TRUMP! | Calamatta Cuschieri

US President Donald Trump indeed kept his promise of building a wall and now his signature is appearing on an official mandate

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Calamatta Cuschieri
27 January 2017, 10:03am
Members of New Mexico’s congressional delegation praised Trump’s decision to boost the number of Border Petrol but expressed scepticism about the virtue of the wall itself
Members of New Mexico’s congressional delegation praised Trump’s decision to boost the number of Border Petrol but expressed scepticism about the virtue of the wall itself
"I would build a great wall, and nobody builds walls better than me, believe me, and I'll build them very inexpensively — I will build a great, great wall on our southern border. And I will have Mexico pay for that wall. Mark my words."

These were the now President Trump's words during the election campaign and apparently, this was not just a pre-election gimmick. He indeed kept his building promise and now his signature is appearing on an official mandate. This executive order authorises the Department of Homeland Security to “immediately plan, design and construct a physical wall along the southern border” and defined the wall as an “impassable physical barrier”.

Border residents met the news with a mix of scepticism, hope and concern. Members of New Mexico’s congressional delegation praised Trump’s decision to boost the number of Border Petrol but expressed scepticism about the virtue of the wall itself.

Moreover, a US customs and border protection report identified more than four hundred miles, where new fencing could be constructed which tally up an estimated cost of around $12 billion (not that inexpensive!)

Meanwhile, Mexican President Enrique Pena Nieto cancelled his trip to Washington due on 31 January to meet the US President. President Trump had also insisted that the US would recoup the costs for the barrier from Mexico, which the Mexican President has strongly objected.

Markets recap

European markets traded mixed today with Germany’s DAX in the green area, moving to the next level around the 11920 mark, while the French CAC 40 and the British FTSE 100 were lower. Earlier, in the day the Japanese and the South Korean main indexes were in positive territory. Markets in China, Hong Kong, South Korea and other Asian countries are about to begin holidays of varying lengths to mark the lunar new year, curtailing trading across much of the region.

US markets sought for direction, as the markets gave up some of the gains from the previous day. Technology stocks were the most battered, while financial companies led the gainers. Corporate Earnings news is underway, with investors keeping a close look, with Alphabet, Intel, Microsoft, PayPal and Starbucks are among the big corporates with their earnings reports.

Smooth sailing, acquisition and Brexit worries

Royal Caribbean Cruises Ltd. was up over 8% after the cruise line operator gave an optimistic forecast for 2017 and said bookings are good. The company’s North American and Asian itineraries performing strongly and the decision to invest in the fast-growing Chinese cruise market have contributed to this positive news. On the other hand, higher costs for its restructuring initiatives and consolidation efforts have been hurting the margins.

The health care giant, Johnson & Johnson, will buy the Swiss biotechnology company, Actelion, for $30 billion in cash. As part of the deal, Actelion’s research and development unit will be spun off into a stand-alone company based in Switzerland. Johnson & Johnson has bought access to a line of high-margin medicines for rare diseases, as Actelion is a leader in the treatment of pulmonary arterial hypertension.

Meanwhile, Whirlpool was in the red after the appliance maker said Britain’s impending departure from the European Union hurt its profits. In fact, the company reported lower than expected fourth-quarter profit with income falling in the wake of Brexit. The shares price was down around 7%.

This article was issued by Rodrick Duca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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