Good morning.

Well … whew … a ceasefire. That was easy.

Okay, I’m just kidding … but the attempt here (which we hope will prove to be successful) was pure “brinkmanship” … which is defined as a high-stakes strategy which threatens disaster if carried out in order to get an opposing party to agree to proposed terms. Whether or not this proves to be successful in achieving aims … there was a great amount of discomfort over the last few days and while anxiousness has been reduced the thought remains that the fire can reignite at any moment.

Still, investors are wildly applauding the ceasefire … driving markets sharply up this morning … as they look forward to the possibility of oil flowing freely again.

Even so, the President is trying to make sure problems end … as he reached into his bag of tricks and announced that any country supplying weapons to Iran will face a 50% tariff on goods coming to the U.S. proving once again that tariffs can not only be used to achieve “free and fair trade” … but also by themselves be weaponized to achieve many other goals.

And how will consumers react?

Just a short while ago (pre-ceasefire), the NY Fed conducted a survey, and reported consumers believed inflation one year out would be 3.4% … quite a jump from the 3% previously hoped for.

Rising prices are addressed in the last two articles included below.

In one, Governor Shapiro of Pennsylvania addressed the request of one power supply company, PECO Energy, to raise rates by 12.5% this year and calls it “pure greed” … especially in light of the 10% rise received in 2025.

But the second is even more interesting as Delta Airlines … which just this morning announced record revenues and a very positive earnings outlook … is raising the price for checked baggage, claiming it is due to the rising cost of jet fuel.

Okay, let’s face it … every extra pound on an airline means money … but it seems silly that a man weighing 250 pounds checking a 45-pound bag will pay less than a 130-pound woman checking in 51-pound luggage … even though, total, “he” is over 100 pounds heavier.

And, yes, I’m sure my math is right … as I have a new calculator as I finally replaced my old one.

I had a hand-held calculator which I’ve owned since I was a child.

We weren’t wealthy by any means … and all we could afford was one that didn’t even have a button for multiplication.

.. times were tough.

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

A Look At The News | April 8, 2026 As of 11:38 AM today … Last evening Iran and the U.S. appeared to call for a ceasefire and reopening of the important Strait of Hormuz … but while we celebrate, details are still being worked out (NPR) https://www.npr.org/2026/04/08/nx-s1-5777291/iran-war-updates   … for oil is important to both the world economy and the U.S.  One reason, few discuss, is that oil is normally traded in dollars … strengthening our currency … but that may change (Fortune) https://fortune.com/2026/04/07/what-is-petrodollar-petroyuan-saudi-china-dollar-strength/   How powerful are some AI programs?  Well, it certainly says something if you consider one company won’t release a product because they fear it is too powerful (Gizmodo) https://gizmodo.com/anthropics-new-model-is-so-scarily-powerful-it-wont-be-released-anthropic-says-2000743234   … but power not only belongs to computer programs and electric companies … as we always have weather which packs quite a wallop.  And this summer could be a real scorcher (Timeout) https://www.timeout.com/montreal/news/a-rare-super-el-nino-could-be-the-most-powerful-in-a-centuryand-trigger-global-weather-chaos-040626   Speaking of power we might as well comment on one major player … Peco Energy … which is proposing rate hikes that the Governor claims is pure greed (WHYY) https://whyy.org/articles/peco-rate-hike-request-shapiro/   … but other prices could be going up as well … as one airline is adding to its (ridiculous) baggage fee … trying to offset the high recent jump in the cost for jet fuel (APNews) https://apnews.com/article/delta-air-fuel-bag-fees-5c1c2d4214ce745b03890f47850b9dd6 The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us. Emerald Asset Management PA, LLC | 717-556-8900 | 3175 Oregon Pike, Leola, PA 17540 Want to change how you receive these emails? You can unsubscribe from this list. ———————————————————————————- The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.