1) Tomato prices could raise 40% from U.S. withdrawing from trade pact with Mexico, called the Tomato Suspension Agreement which expires this Tuesday. This will trigger duties of more than 17% on tomatoes coming from Mexico. Tomatoes from Mexico are selling below domestic production cost.
2) The Dow Jones slid down 648 points, before rising to 473 points on closing, over news that America will impose higher tariffs on Chinese goods late this week. The Nasdaq and S&P 500 also experienced similar significant drops over fears of a full blown trade war with a down turn in global growth and a drop in China’s GDP.
3) Analyst say that a breakdown in the semiconductor field is a warning sign that a trade war with China is coming. This industry is more sensitive to U.S. – Chinese trade tensions. Watch the Philadelphia Semiconductors SOX index, for if the index falls below about the 1,430 level, that indicates trouble.
4) 7 MAY 19 Stock market closings:
Dow 25,965.09 down 473.39 Nasdaq 7,963.76 down 159.53 S&P 500 2,884.05 down 48.42
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
The stock market reacted wildly Friday October 28, 2016. New revelations on Secretary Hillary Clinton’s emails, sent the markets on a roller coaster Friday. FBI Director James Comey announced to Congress that the FBI would be investigating more leaked emails; which were discovered when investigating former Congressman Anthony Weiner (Huma Abedin’s separated and estranged husband).
The emails are said to be in the tens of thousands and the FBI is staking the lead in the investigation. Director Comey has indicated he does not know how long the investigation will take and if there is any fraudulent activity within regards to the email, what is noticed is that the financial markets did not react well to the news at all.
All markets (Dow, S&P, Nasdaq, & Crude) ended in red by the end of the trading day. More info to be revealed hopefully sooner then later….. TO BE CONTINUED….-SB
The Nasdaq Composite fell the most in the 11 months that it has be adhered to. Tech stocks were the driving force behind the Nasdaq falling so violently. The better known tech and bio tech stocks were the stocks that fell so abruptly.
Momentum stocks took the heat which indicated other uptrending stocks were going to follow suit. Many investors also pulled their positions and money when they witnessed stock indexes reclining and pulling back around certain support levels. -SB