23 October 2019

1) China is growing at its slowest pace in nearly thirty years, with a 6% growth rate down graded to 5.8% growth which was predicted by the IMF (International Monetary Fund) for 2020. China’s economy isn’t looking very good, and what’s worst it’s getting worst. Economist are in disagreement over just what is causing the decline, considering there’s more than just the trade war responsible for China’s down slide. Slowing of global trade is another factor, but still with a 6% growth, China is above the world average of 3%.

2) The major credit card companies are launching a ‘one-click’ checkout button for fast secure online purchases similar to the PayPal. Now available with Cinemark, Movember and Rakuten websites, it will soon be available on BassPro, JoAnn Fabric, Papa John’s, Saks Fifth Avenue, SHOP.com and Tickets.com by the end of the year, with further companies to be added in 2020. Users won’t have to create or log into an account to make a purchase, nor will they need to enter their card info into every new site. The new service is being offered by Visa, Mastercard, Discover and American Express.

3) According to a survey from the consultant firm McKinsey & Co., more than half the world’s banks are too weak to survive a downturn of economies. These banks are not economically viable because of their returns on equity, which are not keeping pace with costs.

4) Stock market closings for – 22 OCT 19:

Dow                26,788.10    down    39.54
Nasdaq            8,104.30    down    58.69
S&P 500           2,995.99    down    10.73

10 Year Yield:    down   at    1.77%

Oil:    up   at    $54.32

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