24 August 2018

1) Sears is closing an additional 46 stores, 13 Kmart and 33 Sears. Liquidation sales should start in the next week or so.  Sears stock has dropped 85% in the last 12 months.

2) Airlines are cutting back the number of routes they service because of the high oil prices.

3) The Trump tax cuts are reportedly causing stock buy backs by major corporations, to the tune of $1 Trillion dollars in 2018. Companies are aggressively buying back their stock with their excess cash reserves, plus using 60% of their profits on buy backs.  In turn, these buy backs are driving stock prices up.

4) 23 AUG 18   Stock   market   closings:

Dow              25,656.98     down    76.62
Nasdaq           7,878.46     down    10.64
S&P 500          2,856.98     down      4.84

10 Year Yield:     unchanged   at   2.82%

Oil :     up   at   $67.91

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