1) Five American companies make up 24% of the S&P 500 Index, the big high tech companies Apple, Amazon, Microsoft, Facebook and Alphabet. These five companies made up 17% of the index at the start of the year. This makes a significant part of American net worth and security for retirement dependent on just a handful of stocks, which makes some financial advisers nervous having their eggs in too few baskets. One hiccup in the technology sector could mean major losses across the board.
2) Another shooting of a young black man Monday in South Los Angeles has sparked more protest that could lead to more city rioting. The man was stopped for violating vehicle codes, but then ran, with the police in hot pursuit. When police caught up with him, he punched one policeman in the face at which time a semiautomatic pistol dropped out causing both policemen to open fired. Since the victim didn’t have the weapon in hand, nor was it ever pointed at either police officers, so there are questions about the shooting. So far, protests have been peaceful.
3) The U.S. Justice Department is investigating the protest leaders and their funding in Portland and other cities for possible criminal activity. With riots and civil unrest now at a hundred days, and significant monetary loses have been occurred, questions are being raised about who is behind the well organized protesters seemingly intent on violent confrontation. Of especial interest is the loosely organized far left Antifa and the Black Lives Matter, and who is ultimately controlling their operations through funding and why.
4) Stock market closings for – 1 SEP 20:
Dow 28,645.66 up 215.61 Nasdaq 11,939.67 up 164.21 S&P 500 3,526.65 up 26.34
1) One of the nations largest credit card companies Capital One announced a massive data breach which affects tens of millions of customers. This news has sent its stock down 7%. Most of the data lost to hackers was personal information such as names, addresses, phone numbers and income of consumers and small businesses from 2005 to 2019. About 140,000 Social Security numbers of customers was comprised with 80,000 bank links. This breach is one of the largest yet.
2) China and America have resumed trade talks in Shanghai after a three month suspension. President Trump has criticized China for it’s reluctance to buy U.S. agricultural products, the Chinese using this as a pressure point on Trump with many farmers having previously supported Trump. There are low expectations for a breakthrough in trade talks because the two sides are further apart now than three months ago.
3) American consumer confidence is at the highest level since November negating its June drop. The index rose from June’s 124.3 to 135.7. The index measures consumers’ assessment of the current economic conditions and their expectations for the next six months. Consumers have little concern for trade tensions with China or a slowing economy. This should translate into robust spending in the near future.
4) Stock market closings for – 30 JUL 19:
Dow ,198.02 down 23.33 Nasdaq 8,273.61 down 19.72 S&P 500 3,013.18 down 7.79
Mr. Jeff Bezos has accomplished the unimaginable; well now the unimaginable is now manageable. He is now the richest person in modern day times, this is according to Bloomberg Billionaire Index.
Bloomberg uses inflation based adjustments in their analysis to estimate Bezos’ net worth topping $150 billion. The Amazon mogul so far, is the richest person on earth by far, not since 1982 has anyone accumulated as much in wealth as Jeff. 1982 is when Forbes announced its first richest in the world list).
The richest family however seems to be the Walton family, the dynasty of the Walmart brand. They have accumulated a fortune of over $151 billion collectively.
Bet that on your pretty bottom dollar!!!!!!!!!!!! -SB
It seems that Nigeria has been on a roll this year, as far as stock indexes are concerned. Nigerian stocks returned 12% to investors in 2017. The largest percent ratio in global stock indices for 2017.
Nigeria recently got out of an economic recession, a recession that has not occurred in the country in the last twenty five years, so for stocks to be hitting record highs while also climbing out of a recession is a plausible feat.
2018 has begun, so will Nigeria markets continue to flourish? This may be the beginning. -SB
Hong Kong is the world’s “freest economy” for the 22nd time in a row. This being determined by global think tank, The Economic Freedom Index. Hong Kong is one of the major global financial epicenters, and for it to be ranked “back to back” (in the words of rap superstar Drake). This has to be quite an accomplishment.
Hong Kong received the accolade because of its attribute in giving higher then normal working wages, the people in Hong Kong live longer and prosper toward achievable goals; as well as taking care of the environment that they live in. Many of the “freest economies” came from the Asian continent, such as Singapore which followed behind Hong Kong as the # 2 “freest economy”, by the index.
The top 5 freest economies according to Economic Freedom Index, were 1)Hong Kong 2) Singapore 3) New Zealand 4) Switzerland 5) Australia… -SB
Standard and Poor downgraded Brazil’s debt credit to “Junk”. The Bovespa stock index fell 0.33% Thursday, by end of the day. Brazil must cut spending and expenditures to increase stability to its economy.
President Dilma Rousseff discussed alternatives and options with her economic team, on finding certain solutions to the downgrade by Standard & Poor’s… One of the main options discussed was cutting spending drastically. Economically, Brazil is already over ten billion dollars in debt. Inflation is north of 10% and unemployment has risen drastically, over the course of a few years time.-SB
Asian shares heeded higher for the third consecutive month as stocks moved higher for the past couple of days. Bulls seem to be reigning in as prices and stock indexes continue to go to a higher direction. Oil seems to be gaining ground higher as well, the uptrend on stocks and prices is viewed by how well oil can maintain its run upwards.
The Nikkei posted higher on Wed Feb. 4, 2015, up 1.8% because of banking sector performing unusually well for the day and also very strong company earning reports from Mitsubishi .
Australia’s index also outperformed climbing 1.2% because of the interest cut instituted by the Federal Reserve Bank of Australia.