1) President Trump has instructed the heads of departments to cut their expenditures by 5% in an effort to curb deficit.
2) Fears of another interest rate hike by the Feds has resulted in a drop in the stock markets.
3) Many American CEO’s are pulling out of Saudi Arabia’s investment conference, ‘Davos in the Desert’, sponsored by the crown prince. There are now questions of long term investment stability in Saudi Arabia.
4) 17 OCT 18 Stock market closings:
Dow 25,706.68 down 91.74
Nasdaq 7,642.70 down 2.79
S&P 500 2,809.21 down 0.71
10 Year Yield: up at 3.18%
Oil: $69.96 down from $72.26