1) Amazon’s retail sales was lower than expected for the fourth quarter, although their other operations kept profits up.
2) The collapse of Sears just might be the start of a retail apocalypse. As more retailers became troubled, it may signal consumerism is slumping. Even strong retailers had a lackluster Christmas, more economist are fearing a coming recession and more retailers will be in trouble if economic growth slows.
3) Brexit has already spawned economic damages. The largest EU banks are moving out or planning to move in the near future. Britain’s Pound has fallen 10% against the Euro resulting in reduced purchasing power for the British people. There are many other sectors adversely effected.
4) 1 FEB 19 Stock market closings:
Dow 25,063.89 up 64.22
Nasdaq 7,263.87 down 17.87
S&P 500 2,706.53 up 2.43
10 Year Yield: up at 2.69%
Oil: up at $55.37