7 May 2019

1) The jobs report Friday was better than expected, up from last months 190,000, with 263,000 jobs reported and unemployment down again to 3.6%. This underscores the economy’s vigor with unemployment at half the century low. This may eliminate the markets fears of a recession.

2) This Friday, just after midnight, China will have an additional 25% tariffs imposed. However, there are fears that domestic Chinese politics may cause the ploy to backfire, from the Chinese people seeing their government backing down to America. Therefore, the Chinese government may not be able to respond as Washington is expecting.

3) Fears of the consequences of more tariffs on China caused a slight downturn of today’s market closings.

4) 6 MAY 19 Stock market closings:

Dow             26,438.48    down    66.47
Nasdaq          8,123.29    down    40.71
S&P 500         2,932.47    down    13.17

10 Year Yield:    down   at    2.50%

Oil:    down   at    $62.04

5 April 2019

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

10 Year Yield:    down   at    2.51%

Oil:    up   at    $62.18

4 February 2019

1) Amazon’s retail sales was lower than expected for the fourth quarter, although their other operations kept profits up.

2) The collapse of Sears just might be the start of a retail apocalypse. As more retailers became troubled, it may signal consumerism is slumping. Even strong retailers had a lackluster Christmas, more economist are fearing a coming recession and more retailers will be in trouble if economic growth slows.

3) Brexit has already spawned economic damages. The largest EU banks are moving out or planning to move in the near future. Britain’s Pound has fallen 10% against the Euro resulting in reduced purchasing power for the British people. There are many other sectors adversely effected.

4) 1 FEB 19 Stock market closings:

Dow               25,063.89          up    64.22
Nasdaq            7,263.87      down   17.87
S&P 500           2,706.53            up     2.43

10 Year Yield:    up   at   2.69%

Oil:    up   at    $55.37

2 January 2019

1) Analysis estimate there is a 40% chance of a recession in 2019.

2) Analysis cut the 2019 earnings forecast by more than half. While still growing, earnings are growing at a slower rate than expected from 2018.

3) This next year will be a make or break for fifteen international corporations. They are Bayer, Sears, BT, Tesco, Deutsche Bank, GlaxoSmithKline, Tat Motors, Ford, EDF, Goldman Sachs, General Motors, Huawei, Facebook, Air France – KLM, and RWE. Of interest is the number of automotive manufactures in trouble.

4) 31 DEC 18 Stock market closing:

Dow            23,327.46 up 265.06
Nasdaq 6,635.28 up       50.76
S&P 500   2,506.85      up    21.11

10 Year Yield: down at 2.69%

Oil: up at $45.81

EARS To The GROUND!!!!!!!!!

By: Economic & Finance Report

We have a new section on Economic & Finance Report, entitled EARS To The GROUND…

EARS To The GROUND,We will be showcasing daily reporting from new around the world (mainly on economic, economy, business, finance, but not limited to) news sources that is readily available, and has been readily available.

EARS To The GROUND, will be providing tid-bits from news around the globe that our readership may not know is available or would want insight on….

Stay Tuned 4 EARS To The GROUND…….. SB

  


1) Slow growth of European manufacturing continues for 18 months as a result of fears of international trade.  The issue of trade tariffs and the impact of exports from Europe leave manufactures reluctant to invest in expansion fearful that their markets may diminish leaving them high and dry..

 

 

 

NIGERIA STOCKS PRESENTED 12% RETURNS… LARGEST % PCT IN GLOBAL INDICES FOR 2017

By: Economic & Finance Report

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

NIGERIA & SOUTH AFRICA EXIT RECESSION !!!!!!!!!!!!!!!!

By: Economic & Finance Report

Two of Africa’s biggest economies have officially exited recession.  In the second quarter of 2017, Nigeria’s economy improved by 0.55%, a large part attributed to Nigeria’s growing agri sector (agriculture); as well as Nigeria’s oil production stabilizing again.

South Africa economy grew by 2.5% also attributed by their economy’s agri sector also. Nigeria for the past 25 years had not been in a recession, so when the country contracted this past year; it took many people by surprise, while in South Africa many economic factors played into its recession, especially from the finance sector and government interference tailgaiting corruption scandals. -SB

*The National Bureau of Statistics of Nigeria & South Africa provided current  statistical data*

NIGERIA BIGGEST ECONOMY IN AFRICA AGAIN: TWICE IS A CHARM!!!!!!!!

nigeria

By: Economic & Finance Report

Nigeria reclaimed its numero uno status as the biggest economy in Africa again, last week. The IMF indicated that Nigeria’s GDP contracted to $415 billion, while #2 runner up South Africa had $280 billion and rounding off #3 was Egypt, (which data has not come out yet when writing this piece).

The International Monetary Fund (IMF) also indicated Nigeria should be out of their recession by early 2017. Nigeria has seen recession before; during 1982-1984 when current Nigerian President Muhammadu Buhari was military head of state then, and in 1991 when Ibrahim Babangida was also head of state at the time. -SB

DON’T COUNT NIGERIA OUT….. WORK IN PROGRESS……….

Nigeria economy

By: Economic & Finance Report

As a all around businessman, creator, publisher, founder and writer, columnist and to some degree analyst of the economy and finance (as I see fit); I tend to read articles about the economy, business, finance and real estate in other countries and continents.  I currently read an article on Nigeria about its economic state. The article was in Bloomberg News, which covers much of Nigeria and Africa. 

The article pretty much indicated that Nigeria was on “its knees”, and the economic state was crumbling drastically. Since we are an economic and financial blog site, I would like to throw my “2 sense/cents” if you will (no pun intended).

My thoughts on this matter is that I would tend to agree that many Nigerians are suffering because of how the economy has unfolded in the country; but I would disagree that President Buhari and his administration are the culprits in such an event. We must remember that there are other factors that have also contributed to this scenario (ex. corruption, depleting oil prices/revenue, sabotage of oil pipelines in the Niger Delta, high unemployment of the youth, Boko Haram’s terrorists acts in the Northeast of the country (which has now been subdued by the military) that barely had enough equipment in the beginning to take on Boko Haram, this just to name a few.)

All these factors played roles in recurring events. The Buhari Administration had to deal with this as well as other problems while coming into power; mind you they came into office with currency reserves diminished by more then 50%. This would be a tough task that any administration would have to alleviate. In 2008 the Obama Administration and Congress had similar scenarios as well, in all respect, when the US was in recession.

The Buhari Administration has only been in office for 1 year, and some progress has been made, but to give a small “snapshot” of the state of Nigeria is unfair, especially when the administration is in the beginning stages to restructure the economy as well as change the political culture and climate, when former politicians used to “rob the country clean of its financial resources” through “mind

boggling corruption schemes….

One year for any governance is not attainable in any condition, more time and strategic policies have to be instituted. President Buhari, his close advisors, and national policy experts will have to figure out more creative ways to boost the economic climate within the country. I believe they eventually will.

I say give them more time, just my humble opinion-SB

Bloomberg News Article Below:

http://www.bloomberg.com/news/articles/2016-05-30/lost-year-in-nigeria-under-buhari-leaves-economy-on-its-knees