US futures nudge higher but be wary of this Dimon headline

The market is sensing some optimism again and there are definitely positives with the EU saying that they might look into postponing tariffs here. But this headline from Jamie Dimon is making the rounds and could easily be misconstrued: *DIMON SAYS TARIFF POLICY ISSUES SHOULD BE RESOLVED QUICKLY*

In his letter, this was the actual wording: "There are many uncertainties surrounding the new tariff policy: the potential retaliatory actions, including on services, by other countries, the effect on confidence, the impact on investments and capital flows, the effect on corporate profits and the possible effect on the U.S. dollar. The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse. In the short run, I see this as one large additional straw on the camel’s back."

If you just read the headline, it could mean that Dimon thinks that the issues surrounding tariffs should be resolved quickly. Or it could also mean that he thinks that it should be resolved quickly so as to not get worse. For the full context from his letter, it clearly means the latter. But again, if you just read the headline you can easily take it for the former. And on Twitter itself, we're seeing comments flow to indicate that:

I wouldn't put it past the algos to also misconstrue the meaning. But if anything, it also shows that this market is also looking for something to get in on the dips. And that's perhaps one positive takeaway here.

All it would take is for trade deals to take shape in the next two days and Trump renegotiating tariffs with some countries and we should start to see markets pick up on that.