24 April 2019

1) The stock market rallied in a big way yesterday, recovering the losses from last year, pushed up by the tech stocks and the release of their positive quarterly earnings reports. Furthermore, confidence that the interest rate will not increase further drove the markets up. Both the Nasdaq and S&P broke their record highs too.

2) The government released a report today detailing the dire straights which the Social Security and Medicare programs are in financially. Medicare is forecast to be insolvent by 2026 resulting in doctors, nurses, hospitals and nursing homes not getting fully compensated for services. Even worst, for Social Security their cost will exceed their income in 2020. The fiscal situations come in part from increasing number of obligations because baby boomers are retiring in increasing numbers and the Affordable Care Act. Many politicians wish to extend Medicare to the uninsured.

3) Problems of air bags not deploying in accidents is prompting a recall for as many as 70 million inflaters in America and 100 million world wide by the end of the year. This will involve about 12.3 million automobiles.

4) 23 APR 19 Stock market closings:

Dow               26,656.39   up   145.34
Nasdaq            8,120.82   up   105.56
S&P 500           2,933.68   up      25.71

10 Year Yield:    down   at    2.57%

Oil:    down   at    $66.18