1) Boeing’s profits have plunged because of their 737 MAX problems, which has cost them one billion dollars so far. The fix for the aircraft is causing uncertainty in their earnings and how long it will take before the aircraft is re-certified for operating. There are further concerns over foreign re-certification taking longer than the FAA. Boeing had 4,600 unfilled orders for the 737 MAX.
2) Almost one half of American parents are cutting back on their retirement savings to help pay their adult children’s bills. Additionally, parents are not setting aside some amount of their earns for retirement savings, instead are helping their children pay bills. The average American needs three-quarters of a million dollars in savings to retire and maintain their standard of living.
3) Many major companies are raising prices, considering that raising prices a little will help increase profits. Some of these companies are the railroads, Kimberly-Clark, Procter and Gamble and Whirlpool. Rising wages and raising productivity will tend to increase inflation.
4) 24 APR 19 Stock market closings: Red across the board with everything down.
Dow 26,597.05 down 59.34 Nasdaq 8,102.02 down 18.81 S&P 500 2,927.25 down 6.43
1) The stock market rallied in a big way yesterday, recovering the losses from last year, pushed up by the tech stocks and the release of their positive quarterly earnings reports. Furthermore, confidence that the interest rate will not increase further drove the markets up. Both the Nasdaq and S&P broke their record highs too.
2) The government released a report today detailing the dire straights which the Social Security and Medicare programs are in financially. Medicare is forecast to be insolvent by 2026 resulting in doctors, nurses, hospitals and nursing homes not getting fully compensated for services. Even worst, for Social Security their cost will exceed their income in 2020. The fiscal situations come in part from increasing number of obligations because baby boomers are retiring in increasing numbers and the Affordable Care Act. Many politicians wish to extend Medicare to the uninsured.
3) Problems of air bags not deploying in accidents is prompting a recall for as many as 70 million inflaters in America and 100 million world wide by the end of the year. This will involve about 12.3 million automobiles.
4) 23 APR 19 Stock market closings:
Dow 26,656.39 up 145.34 Nasdaq 8,120.82 up 105.56 S&P 500 2,933.68 up 25.71
1) The United States announced that economic exemptions for Iran oil will be invalid starting the second of May. There are eight countries with exemptions, Asian nations who would suffered hardships from the oil sanctions, but some have already foregone their exemption status. China and India will be the hardest hit from no longer being exempt from Iranian oil sanctions.
2) The Trump administration is cracking down on zero-down home loans from the national affordable housing programs. Fears are mounting over the $1.3 trillion dollar Federally insured home mortgages, stemming from the 2008 housing crash which cost $17 billion dollars from defaults.
3) Executives of automotive manufactures are very concerned about new car sales, considering that at best, stagnation will occur in 2019. For the first three months, new auto sales have been down, they considering that the auto industry having reached a plateau. With half the new auto sales being SUV’s and crossovers, verses only one third for traditional sedans with many models being phase out, there are concerns over the typical new auto costing $34,000 to $35,000. Rising high prices are increasing putting new cars out of the reach of the average American.
4) 22 APR 19 Stock market closings:
Dow 26,511.05 down 48.49 Nasdaq 8,015.27 up 17.20 S&P 500 2,907.97 up 2.94
1) New Jeep Wranglers are being offered for as much as $9,500 dollars off list price. There is an over supply of leftover JL Wranglers, which makes for some really good deals for auto buyers wanting a traditional style SUV.
2) Panama disease is a highly contagious infection which is ravaging banana plantations across the world from Asia to Australia. The Philippines has suffered $400 million dollars in losses, where the world banana cultivation is a $44 billion dollar industry involving the livelihood of 400 million people.
3) Japan’s Mitsubishi Aircraft it about to build Japan’s first airliner in fifty years, to compete with Boeing and Airbus. The small 88 passenger airliner is for the regional air carrier business. Other small aircraft manufactures are also getting into the small carrier airline business betting they can build smaller, simpler and cheaper airliners than Boeing or Airbus.
We are back like we never left of course, we had the pleasure of interviewing hip hop artist and musician Yoson Tala @Yoson_Tala007. Many people might know Yoson from being on tv shows, such as the @BadGirlsClub (Oxygen) & hit tv show on Fox @EmpireFox, he has been featured on Showtime’s @ShoTheChi & NBC’s @NBCChicagoFire, just to name a few.
Yoson @Yoson_Tala007 came on #TheCast
to discuss his musical endeavors, taping current episodes for Empire,
his upbringing in Gary, Indiana and Chicago, IL, as well as what strip
clubs he enjoys (Luisa L @LuisaModels chimes in * ;)* wink*….and much more ..
1) Amazon announced it is shutting down its store in China, and instead will focus on cross boarder global sales to China. Amazon cited the high competition in China from local companies, with 80% coming from Alibaba, the giant Chinese online retailer.
2) The magazine National Enquirer is being sold for $100 million dollars, along with two sister publications to reduce the $355 million dollar debt of the holding company AMI. National Enquirer sales have dropped by half over the last four years.
3) Sprint, the wireless carrier, has revealed they are not as strong a performer as the public had been lead to believe. In a proposed merger with T-Mobile, Sprint had to make full disclosure with regulators, disclosing that many of their added new connections were actually free lines.
4) 18 APR 19 Stock market closings:
Dow 26,559.54 up 110.00 Nasdaq 7,998.06 up 1.98 S&P 500 2,905.03 up 4.58
1) Increase in spending on gasoline and cars is expected to boost retail sales for March above the dismal sales of February. These numbers are being watched closely because there are conflicting statistics in reports that will indicate if there is a down turn of the economy. The retail sales numbers are the last to be coming in.
2) Contributions to restore Notre Dame continue to come in, now totaling almost one billion dollars. Notre Dame didn’t have any insurance, but Lloyds of London estimates that full restoration will require about eight billion dollars. Initial investigation found that the church structure came close to total collapse.
3) Fears of ‘medicare for all’ caused the health care stocks to drop. So far, health insurance and hospital stocks are down about $28 billion dollars, but in general today’s markets closed unchanged.
4) 17 APR 19 Stock market closings:
Dow 26,449.54 down 3.12 Nasdaq 7,996.08 down 4.15 S&P 500 2,900.45 down 6.61
1) The Russian company Rusal plans to build an up-to-date $200 million dollar aluminum rolling mill in Kentucky, which they intend to start construction of after sanctions have been lifted. The mill will provide about 1,500 jobs and is expected to open in 2021.
2) Gasoline prices are quickly rising to the three dollar a gallon mark, even four dollars for parts of California. This rise in price is attributed to several different factors, such as problems with loss of refinery capacity, reduced production from OPEC, higher domestic consumption, flooding reducing grain production for ethanol and sanctions on oil exporting countries.
3) Donations are already coming in to restore Notre Dame less than twenty-four hours after the fire. So far, several billionaires have contributed $700 million dollars to restore the 850 year old church. No doubt, the restoration will require substantially more money and will probably take decades to accomplish.
4) 16 APR 19 Stock market closings:
Dow 26,452.66 up 67.89 Nasdaq 8,000.22 up 24.21 S&P 500 2,907.06 up 1.48
1) GE (General Electric) paid $1.5 billion dollars civil penalty for sub-prime house loans prior to 2007, to resolve claims over residential mortgage loans made by their WMC Mortgage unit, a company purchased by GE during the boom prior to the economic collapse in 2008. Their lending activities concealed the poor quality of the loans being made.
2) The Chevron oil company is buying the Anadarko Petroleum Corporation for $33 billion dollars which will put Chevron Corporation in the top ranks of energy companies. Chevron will be the third largest oil producer behind Exxon and Shell.
3) The GE20 group announced the global economy is slowing down faster than was expected, with an anticipated global growth of 3.3% for this next year. This is the lowest expansion since 2016, which may become worst if US-China trade tensions should increase.
4) 12 APR 19 Stock market closings: JP Morgan-Chase and Disney pushed stocks up.
Dow 26,412.30 up 269.25 Nasdaq 7,984.16 up 36.80 S&P 500 2,907.41 up 19.09
1) The ride service Uber’s long awaited IPO (Initial Public Offering) filing is being watched for. The IPO is coming just two weeks after Lyft’s IPO. Uber and Lyft have been running neck and neck in competition in the rider market.
2) Signs that the US economy is strengthening is indicated by the number of new jobs rebounding from February with 196,000 new jobs in March. The unemployment rate held steady at 3.8%, while consumers spending is also accelerating, another sign that the US economy is regaining momentum..
3) Disney corporation is entering the streaming competition against Netflex. The streaming service will be called Disney Plus. Right now, Disney also owns 60% of the Hulu streaming service. Disney Plus is coming out just when Netflix announced its price increases plus it’s the lowest cost of any of the streaming services.
4) 11 APR 19 Stock market closing:
Dow 26,143.05 down 14.11 Nasdaq 7,947.36 down 16.88 S&P 500 2,888.32 up 0.11