See new posting below, “EFR PODCAST EP. #28: TARIFF WARS”
1) Oil prices continue to increase as supplies decrease in part because of the Iran sanctions which come into full force on 4 November. Fears are that oil prices will reach $100 in the near future.
2) Amazon announces raising their minimum wage to $15 per hour. This will effect 250,000 full and part time Amazon workers, plus another 100,000 seasonal workers. Target will raise their minimum wage to $11 per hour while Walmart will raise their’s to $12 per hour.
3) The Hudson Yards, at $25 billion, is the most expensive real-estate development in US history, as well as one of the largest. Once completed, there will be 18 million square feet.
4) 2 OCT 18 Stock price closings: Every major retailer stock prices closed down in response to Amazon.
Dow 26,773.94 up 122.73
Nasdaq 7,999.55 down 37.76
S&P 500 2,923.43 down 1.16
10 Year Yield: down at 3.06%
Oil: $75.18 down from $75.45