1 October 2018

1) California’s gas tax revolt is gathering momentum with the citizens of California voting on a proposition to revoke the recently passes gas tax legislation.  These taxes also include the vehicle registration fees (license plates) renewals.

2) Elon Musk, the CEO of Tesla, has settled with SEC, agreeing to pay a $20 million fine and resign as board chairman, and Tesla must pay an additional $20 million.

3) Stock for Sears Holdings has fallen below $1 per share for the first time, hitting an all-time low.  Sears Holdings is running out of time to stay afloat with multi million dollar notes coming due this month.

4) 28 SEP 18 Stock market closings:

Dow                     26,458.31           up         18.38
Nasdaq                  8,046.35           up           4.39
S&P 500                 2,913.98      down           0.02

10 Year Yield:     unchanged   at    3.06%

Oil:     $73.56   up   from    $72.20

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