28 July 2020

1) Economist are warning that the economy needs help now to avoid faltering. As the President and Congress struggle to create another economic aid package, evidence is growing that the U.S. economy is headed for trouble, especially if the government doesn’t take steps to support hiring and economic growth. Experts say the economy is in a pretty fragile state again and needs another shot in the arm. Unemployment is still at a high 11.1% and hiring seems to be slowing in July, so the economy is likely to weaken further. Few economist consider that the recovery will be a V-shaped path, that is, the sharp recession will be followed by a quick rebound. In addition to helping the millions of unemployed Americans, the governments needs to help businesses from going bust.

2) There are five trends which indicate the U.S. economy is not rebounding as hope. The first is ‘Direction Requests’ on smart phones for walking and driving directions, have gone flat over the last few weeks indicating people are staying at home. The second is ‘Restaurant Bookings’ which show a 60% drop from last year. Third trend is ‘Hotel Occupancy’ which has stagnated with occupancy at 47%. ‘Air Travel’ was slowly increasing, but has also stagnated this last month with air travel down 70% from last year. Finally, ‘Home Purchases’ is increasing at a slow rate, a reflection of peoples uncertainty and changing employment status of potential buyers.

3) Price of gold continues to climb, as investors seek the safety of the yellow metal amidst economic fears of the future. Gold has historically been a refuge for money in times of economic uncertainty, a panic investment. Bullion has climbed to a record high of $1,946 per ounce. The real interest rates (less inflation) is driving investors to gold, as well as the tumbling dollar. Silver bullion is also increasing in price as another safe heaven for investing.

4) Stock market closings for – 27 JUL 20:

Dow 26,584.77 up 114.88
Nasdaq 10,536.27 up 173.09
S&P 500 3,239.41 up 23.78

10 Year Yield: up at 0.61%

Oil: up at $41.66

10 April 2020

1) Jerome H. Powell, the Federal Reserve Chair, said the U.S. economy is in an emergency, which is deteriorating with alarming speed. His remark comes after unveiling over $2 trillion dollars in new loans to keep the economy afloat, a result of the coronavirus shutdown. America is moving from the lowest unemployment in fifty years to a very high unemployment in just weeks. Claims for unemployment aid is now up to 17 million and still climbing as more businesses fight to survive. It is expected the U.S. economy may shrink by more than 30% between April and the end of June. The Fed will soon begin purchasing up to $750 billion dollars in corporate loans from big businesses who have a low investment grade, in the hopes of preventing their bankruptcy bringing further damage to the American economy. The Feds are making a wide range of loans to various size businesses which it doesn’t expect to get paid for. No one is making estimates on how extensive this will ultimately be to the American economy.

2) Although Saudi Arabia and Russia have reached an agreement on limiting oil production, it’s not yet known just how large those reductions are going to be, so oil prices had turned negative while awaiting details of OPEC+ cuts in oil production. The general consensus is each nation will cut production by 10 million barrels a day, but with world oil consumption way down because of the pandemic, it’s not certain if the OPEC+ cuts will have much effect, especially for U.S. domestic oil production (shale oil).

3) The Treasury Secretary Steven Mnuchin considers it may be possible for the U.S. to be open and back to business next month, considering it’s just a matter of medical considerations. The administration is doing everything possible for business to resume as soon as the ‘all clear’ is sounded and they have the necessary liquidity to operate. The president is forming a second taskforce charged with addressing the economic devastation which the virus has wrought and take measure to resume economic activity as soon as possible.

4) Stock market closings for – 9 APR 20:

Dow 23,719.37 up 285.80
Nasdaq 8,153.58 up 62.67
S&P 500 2,789.82 up 39.84

10 Year Yield: down at 0.73%

Oil: down at $23.19

#NIGERIADECIDES: BABA MUHAMMADU BUHARI REELECTED AS NIGERIA’S PREZ.

President Muhammadu Buhari

By: Economic & Finance Report

President Muhammadu Buhari has won reelection for the presidency of the Federal Republic of Nigeria. He won with over 3.9 million popular votes.

President Buhari the incumbent, won the majority of the North East, North West, and South West states, he also took home the majority of the middle belt states.

The former Vice President Alhaji Atiku Ababakar, the oppositional presidential candidate won South South, South East majority states.

This was a well contested election with many analysts & spectators citing President Buhari having a tough battle winning reelection.

It seems that the President Buhari had managed to beat the odds overall. International observers indicated there was an increase of violence during the campaigns and as it became closer to the presidential/national assembly elections, but during the election day votes seemed to be collated orderly. -SB

EFR PODCAST EP. #30: END OF THE YEAR WRAP UP 2018

THE EFR PODCAST: END OF THE YEAR WRAP UP 2018

Wrap up of 2018 episode, Sammy BE (Bizman Bassey), James Lyman & on the boards, magic Jon Don Sterling. The trio discussed topics and issues ranging from economy, business, trade, and a little politics, for the year of 2018.

Sammy and James spoke on the trade policies with China, the new USMCA Trade Agreement between USA, Mexico, & Canada (replacing of NAFTA). Problems that may have handicapped General Motors (GM); Saudi Arabia policy & reporter death of Jamal Khashoggi. The gentlemen ended of the 2018 year speaking of the improving US economy (GDP) and the new Congress (Democratic House, Republican led Senate), that will be entering in January 2019.

This a mouthful that you don’t want to miss, ending of 2018 wrap up episode…. Happy New Year… See You In 2019

As Always #StayBlessed & #BeBlessed #HappyNewYear2019

Website Platforms To Check Out:

1) www.instagram.com/EcoFireTV

2)www.twitter.com/EcoFireTV

3) www.Economic&FinanceReport.com (Economic & Finance Blog Site)

4) www.soundcloud.com/Economic-FinanceReport (Podcast/Online Show)

5)www.youtube.com/channel/UCWZo5bug…Nlb2VRfDCQ/videos (EFR.Tv Youtube Ch)

6)www.SammyBuysHomes.com (Real Estate Investment)

7) www.TraderSoul.com (Financial Trading Website)

6 December 2018

1) President Trump continues to play hardball with China to hammer out a trade agreement more favorable and equitable to the United States.  But he did praise China for taking new measures to control addictive drugs into America.

2) Facebook finds itself under the gun for giving personal data to select users. New documents have surfaced showing that Facebook intended for these select users to have wide spread access to data in exchange for advertising on Facebook. Facebook is adamant they didn’t sell any personal data to any third parties, but nevertheless, they profited from providing data.

3) Price increases are spreading broadly through the economy, driven by tariffs and the trade war.  Furthermore, the interest rate is expected to rise again in December, which may put further pressure to raise prices.  Chinese tariffs have had a very adverse effects on American agriculture.

4) 4 DEC 18     Stock market closings:     Markets closed.

30 November 2018

1) President Trump goes to G20 conference amid concerns for the near and far future of world economies, as countries are withdrawing into nationalism and protectionism.  While flying to the conference, Trump tweeted his cancellation of meeting Putin because of Russia’s recent aggressive actions against Ukraine.

2) Because of sever shortages of pork, a result of widespread disease in Chinese hog herds, China has resumed buying pork from America despite the trade war.

3) The pharmaceutical company Bayer announced plans to cut 12,000 jobs as a result of the Monsanto takeover.  This action is a result of restructuring because of losing a massive lawsuit over the weedkiller Roundup.

4) 29 NOV 18    Stock market closings:   The three day market rally ends.

Dow                           25,338.84       down          27.59
Nasdaq                        7,273.08       down          18.51
S&P 500                       2,737.76       down            6.03

10 Year Yield:      down   at    3.04%

Oil:         down   at    $51.33

23 October 2018

1) President is considering a 10% tax cut for middle income earners.

2) The Chinese stock market surged up amidst favorable comments from lenders and regulators.

3) Netflix is planning to raise another $2 billion dollars using debt for funding new content.  This is the second time for Netflix to use debt to finance new content.  Netflix is investing heavily in new shows and content because of the streaming competition.

4) 22 OCT 18      Stock   market   closings:

Dow                        25,317.41        down      126.93
Nasdaq                     7,468.63              up        19.60
S&P 500                    2,755.88         down        11.90

10 Year Yield:     unchanged   at     3.20%

Oil:         $69.63     up    from    $69.37

18 October 2018

1) President Trump has instructed the heads of departments to cut their expenditures by 5% in an effort to curb deficit.

2) Fears of another interest rate hike by the Feds has resulted in a drop in the stock markets.

3) Many American CEO’s are pulling out of Saudi Arabia’s investment conference, ‘Davos in the Desert’, sponsored by the crown prince.  There are now questions of long term investment stability in Saudi Arabia.

4) 17 OCT 18 Stock market closings:

Dow              25,706.68      down     91.74
Nasdaq           7,642.70      down       2.79
S&P 500          2,809.21      down       0.71

10 Year Yield:     up   at    3.18%

Oil:     $69.96   down    from    $72.26

12 October 2018

New article posted below titled, “SEARS SEEMS TO BE GOING THRU BANKRUPTCY………”

1) President Trump continues to blame the Federal Reserve interest rate increase for the nose dive of the markets.  The Dow is down 1,300 points in two days, the steepest losses in 8 month.  The losses are world wide.

2) Social Security recipients will receive a 2.8% increase in 2019. This will amount to an average of $39.

3) The CVS health and Aetna merger will have profound changes to American health care.  CVS will bring vast drug purchasing data to Aetna allowing Aetna to predict health conditions in a region, and give the insurance company the buying habits to predict areas to give coverage to or avoid.

4) 11 OCT 18    Stock   market   closings:

Dow                         25,052.83     down          545.91
Nasdaq                      7,329.06     down            92.99
S&P 500                     2,728.37     down            57.31

10 Year Yield:       down   at    3.13%

Oil:           $71.20    down   from    $72.71

11 October 2018

New article posted below titled, “SEARS SEEMS TO BE GOING THRU BANKRUPTCY………”

1) A wave of warm weather has proved to be an economic boost to England’s economy.

2) The stock market cratered today with a massive 830 point drop in the Dow Jones.  President Trump blamed the sudden drop on hikes of the interest rates, with money flowing out of the stock market into the bond market.

3) There are questions if this is a correction of the markets or the start of a decline from the long run of stock gains.

4) 10 OCT 18 Stock market closings:  Dow and S&P down 3%, while Nasdaq is down 4%

Dow:                  25,598.74            down           831.83
Nasdaq                7,422.05            down           315.97
S&P 500               2,785.68            down             94.66

10 Year Yield:    up   at   3.22%

Oil:      $72.71    down   from    $74.69