1) Lowe’s announced they are closing 51 stores in the US and Canada. American’s are doing less home remodeling because of the strong housing market, so building supply stores are doing less business. Lowe’s is having trouble keeping up with Home Depot and so is also cutting back its inventory.
2) Uber’s strongest growth is in depressed Argentina. The government has barred Uber drivers from accepting credit and debit cards, so now drivers can only take cash, leaving Uber unable to receive its share of revenues.
3) 5 NOV 18 Stock market closings:
Dow 25,461.70 up 190.87
Nasdaq 7,328.85 down 28.14
S&P 500 2,738.31 up 15.25
10 Year Yield: down at 3.20%
Oil: down at $62.91