20 March 2019

1) FedEx stock dropped as it missed it estimates for quarterly profit for the second time. FedEx is considered by many to be a bellwether for the global economy and their forecast for global trade growth proved to overly optimistic.

2) Newark New Jersey plans to implement a Basic Universal Income despite other countries who have tried this social plan and have abandoned it. Canada and Finland have found it unworkable and does not have any apparent benefits. Newark has not proposed any means to fund the program.

3) The on going college admission scandal is building resentment among the Z-generation over the special standing and access given to fellow kids because their parents have exceptional monetary means. Their parents are buying entry to ivy league colleges thereby denying access by other students who have actual qualifications for entry.

4) 19 MAR 19 Stock market closings:

Dow          25,887.38     down     26.72
Nasdaq       7,723.95           up       9.47
S&P 500      2,832.57      down       0.37

10 Year Yield:    up   at    2.61%

Oil:      up   at      $59.08

Leave a Reply

Your email address will not be published. Required fields are marked *