1) The $9 trillion dollar business of financing global trade has become vulnerable to forgers who are so adept at faking documents used by banks that it has become necessary to go paperless. This means going digital which will also make the financing process more efficient.
2) The just purchased newspaper, the New Orleans Times-Picayune, has laid off its entire staff of 161 workers including 65 reporters and editors. Their competitor, the New Orleans Advocate who purchased them, will publish a daily paper using the names of both brands.
3) Two Federal Reserve policymakers have voice concerns about weak inflation. Some bankers see weak inflation as a growing case for a future interest rate cut, even though others are pushing for continued patience.
4) 3 MAY 19 Stock market closings:
Dow 26,504.95 up 197.16
Nasdaq 8,164.00 up 127.22
S&P 500 2,945.64 up 28.12
10 Year Yield: down at 2.53%
Oil: down at $61.86