10 April 2019

1) The IMF (International Monetary Fund) has reduced their forecasted for world economic growth from 3.5% to 3.3%, which is the third reduction since last October. It forecasted 2.3% growth for the US economy, as well as reduced growth forecast for Germany and Great Britain.

2) Walmart is rolling out thousands of robots for use in their retail stores across America. These robots will automatically scan shelves and clean floors. With a million employees, Walmart is seeking ways to keep labor cost down.

3) Bank of America is raising it’s minimum wage to $20 an hour over the next two years. Starting the first of May, the rate will increase to $17 per hour. The bank has 205,000 employees.

4) 9 APR 19 Stock market closings: Markets pulled down by industrial sector.

Dow             26,150.58    down    190.44
Nasdaq          7,909.28    down      44.61
S&P 500         2,878.20    down      17.57

10 Year Yield:    down   at    2.50%

Oil:    up   at    $64.24

30 January 2019

1) California produce prices are going up because of labor shortages and increasing cost for labor. Agriculture workers are now under California’s minimum wage and overtime laws, plus mandated medical care. In response, farmers are turning more to automation to reduce labor cost and requirements. In the mean time, farm production is down which can further drive prices of produce up nation wide. Also, farming is moving off shore.

2) Pacific Gas and Electric (PG&E) filed for bankruptcy, which puts pending lawsuits on hold and will consolidate them in bankruptcy court.

3) Insurance losses for California wildfires top $11.4 billion dollars, from 46,000 insurance claims. The fires destroyed 13,000 houses and businesses and left 89 dead.

4) 29 JAN 19    Stock market closings:

Dow              24,579.96          up       51.74
Nasdaq           7,028.29     down       57.40
S&P 500          2,640.00     down          3.85

10 Year Yield:    down   at    2.71%

Oil:    up   at    $53.37