1) German economic forecast for growth has been reduced as foreign industrial orders fall. Last year, Germany narrowly skirted a recession. The forecast for economic growth was reduced from 1.8% down to 1.0% due to slower global economic growth and the uncertainties from Brexit.
2) There are about 54,000 bridges in America which need urgent repair, and it’s estimated it will take 80 years to rebuild them. The report by the American Road and Transportation Builders Association says that about 9% of the highway bridges are deficient with 174 million vehicles crossing each day. On a rating scale of 0 to 9, a rating of 4 or below is considered deficient.
3) Oil prices briefly topped $70 for the best grade of crude oil, but was unable to hold because of signs of tightening global supplies plus uncertainty over world economic outlook. Prices were pushed up by forecast of declining OPEC exports.
4) 4 APR 19 Stock market closings:
Dow 26,384.63 up 166.50 Nasdaq 7,891.78 down 3.77 S&P 500 2,879.39 up 5.99
1) The executive and CEO of Quadriga, Canada’s largest crypto exchange, dies with $145 million dollars of customer money electronically locked away. Only the CEO knew the pass words needed to unlock the money.
2) EU economic slow down, with EU experiencing its weakest growth since 2013, amidst manufacturing slowdown. The German economy is accelerating while Frances is slowing down.
3) Tech companies Slack, Airbnb and Uber are making their IPOs this year, but several other tech companies are pulling their plans for IPO because of the uncertain world economic.
4) 5 FEB 19 Stock market closings:
Dow 25,411.52 up 172.15 Nasdaq 7,402.08 up 54.55 S&P 500 2,737.70 up 12.83
1) German technology giant SAP takes a drop in the markets because of a one time write off charge.
2) Chinese purchases of US commercial property is at the lowest since 2012. For the last four quarters, the Chinese have sold more than they bought as the Chinese government pushes to bring money back into China in an effort to stabilize its currency. With China’s economic problems springing from the slowing down in its growth, this trend is expected to continue in 2019.
3) The Feds signal an end to interest rate hikes, with economic growth remaining strong and expected to continue, while fears of inflation are diminishing. Their announcement spurred the stock markets up.
4) 30 JAN 19 Stock market closings:
Dow 25,014.86 up 434.90 Nasdaq 7,183.08 up 154.79 S&P 500 2,681.05 up 41.05