1) The GDP (Gross Domestic Product) for the second quarter has been revised upwards from 4.1% to 4.2%.
2) Iranian lawmakers are blaming their leadership for the economic problems imposed by American sanctions. They have rejected plans to revitalized the economy, by voting down these proposals.
3) Moody’s Investors Service has cut Ford’s credit rating to just above junk level, from a Baa2 to a Baa3 with a negative outlook. This decision is based on the erosion in Ford’s global business position and its restructuring effort, which could rack up $11 billion debt in the next three to five years. Last month Ford lowered its profit forecast for the year, while facing a number of market challenges in the next few years.
4) 29 AUG 18 Stock market closings:
Dow 26,124.57 up 60.55
Nasdaq 8,109.69 up 79.65
S&P 500 2,914.04 up 16.52
10 Year Yield: no change at 2.88%
Oil: up at $69.65