16 May 2019

1) Markets continue to rise as President Trump delays the actual implementation of auto tariffs. Reportedly, the tariffs are to be delayed for up to six months. Other news helped push the markets up, such as Boeing expects to have its 737 MAX software fix released soon.

2) Monet’s ‘Meules’ is now the most expensive painting ever sold at auction. The painting sold for $110.7 million dollars after an eight minute bidding war at Sotheby’s in New York. This is a crushing return on investment, which was bought for $2.56 million dollars in 1986, giving a return on investment of 4,300%.

3) Prior to the new tariffs, China’s economy was slowing down, showing the fragility of the world’s second largest economy. China’s industrial output, retail sales and investment have slowed more than economist expected. With the faltering of credit coupled with slowing consumption at home, combining with a weaker global economy translates into China running out of steady growth right when it’s most needed.

4) 15 MAY 19 Stock market closings:

Dow                  25,648.02    up    115.97
Nasdaq               7,822.15    up      87.65
S&P 500              2,850.96    up      16.55

10 Year Yield:    down   at    2.38%

Oil:    up   at    $62.13

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