1) At a time when auto sales are slowing or even sagging, pickup truck sales continue to rise even with hefty yearly price increases. The industry average for full size pickups is $45,260 in 2019. Chevrolet has announced an all new version of its Silverado that tops the $100,000 price. Profit margins for pickups are large compared with standard automobiles, about $10,000 per truck, with high end trucks bringing as much as $20,000.
2) Importers are dodging the tariffs on Chinese goods by entering the U.S. via third countries such as Vietnam. This practice is called transshipment where Chinese goods are minimally processed or altered in a third country then shipped to America as exports from that third country. The administration has spent this last year investigation strategies to best counter this ploy, which cost America billions of dollars in uncollected tariffs.
3) As global demand for oil weakens amid America’s shale oil boom, OPEC considers extending its production cuts for another nine months. The supply growth in oil is expected to exceed the demand growth for 2020 with OPEC members wanting to get ahead of the situation to avoid a drastic drop in world oil prices. Russia in particular is pushing for extension as it strives to raise its production capacity.
4) Stock market closings for- 1 JUL 19:
Dow 26,717.43 up 117.47 Nasdaq 8,091.16 up 84.92 S&P 500 2,964.33 up 22.57
1) The Ford Motor company will eliminate 20% of its European workforce in a sweeping move to overhaul the manufacture’s falling sales. This will entail reducing its manufacturing facilities from 24 down to 18, with England, Germany and Russia the hardest hit. About 12,000 regular, staff and workers at joint ventures will be effected. Predicted deliveries for automobiles is down, as a result of Britain’s uncertainty from Brexit, with Ford’s European sales dropping 8.3% in May.
2) The crypto-currency Bitcoin having moved up over the last eighteen months to $14,000, suddenly drop 16%, down to $11,000. Bitcoin’s all time high was $20,000 reached in December of 2017, and is noted for it’s wild deviations of price over the last few years. Facebook just announced they are coming out with their own crypto-currency which may be a factor in Bitcoin’s sudden drop.
3) The Federal Aviation Administration has announced more safety concerns with Boeing’s 737 MAX just as the aircraft is being evaluated for software fixes designed to correct computer flight control systems. This system was responsible for two recent crashes with the death of all passengers and crew. Boeing’s stock dropped 3% Thursday as a result of added concerns for its star product, which the FAA is now evaluating software fixes with the expectations of finally getting its airliners airborne again. Boeing is presently parking completed 737 MAX aircraft in its car parking lots waiting for approval so they can make deliveries.
4) Stock market closings for- 27 JUN 19:
Dow 26,526.58 down 10.24 Nasdaq 7,967.76 up 57.79 S&P 500 2,924.92 up 11.14
1) The Russian company Rusal plans to build an up-to-date $200 million dollar aluminum rolling mill in Kentucky, which they intend to start construction of after sanctions have been lifted. The mill will provide about 1,500 jobs and is expected to open in 2021.
2) Gasoline prices are quickly rising to the three dollar a gallon mark, even four dollars for parts of California. This rise in price is attributed to several different factors, such as problems with loss of refinery capacity, reduced production from OPEC, higher domestic consumption, flooding reducing grain production for ethanol and sanctions on oil exporting countries.
3) Donations are already coming in to restore Notre Dame less than twenty-four hours after the fire. So far, several billionaires have contributed $700 million dollars to restore the 850 year old church. No doubt, the restoration will require substantially more money and will probably take decades to accomplish.
4) 16 APR 19 Stock market closings:
Dow 26,452.66 up 67.89 Nasdaq 8,000.22 up 24.21 S&P 500 2,907.06 up 1.48
1) Trump’s Venezuela oil sanctions has put Russia’s massive loans at risk. With loans of over $7 billion dollars from Russia, which were to be repaid in crude oil delivers instead of currency, Russia faces ‘no payment’ until the sanctions are lifted.
2) Because of the increased production of oil in the US and imports from Canada, the use of oil carrying trains is increasing after having declined. Pipe lines are unable to carry the increasing volumes of oil to refineries.
3) Italy is now in negative economic growth for the second quarter, with no prospects of reversal in the near future.
4) 31 JAN 19 Stock market closings:
Dow 24,999.67 down 15.19 Nasdaq 7,281.74 up 98.66 S&P 500 2,704.10 up 23.05
This week’s episode Sammy BE, James Lymon and Jon Don “On The Boards”, discuss the G7 summit-conference, that President Donald Trump attended.
The trio discussed the economic and financial impact of the G7 meeting amongst the world’s most developed countries. Topics ranged from manufacturing, tariffs, trade, deficit, and surplus were discussed among the group, as well as other relevant topics in relation to the economy and finance in general, because this is what we do… THE EFR PODCAST…….
OPEC has insisted that oil output from Libya and Nigeria are not on the agenda in meeting in St. Petersburg, Russia next month to discus the pact OPEC members currently made to reduce oil supply flow.
Nigeria will cap oil production if it can maintain 1.8 barrels pumping, while Libya wants to maintain 1.25 barrels of oil flow. Libya and Nigeria are currently exempt from the curbing of oil production by OPEC. -SB
New episode of the EFR Podcast, episode # 14 via Soundcloud. This episode contributes to the economic and financial policies set forth by United States President Donald Trump, called (TRUMPONOMICS). We discuss the effects of his economic policies and its outlaying prospects relayed domestically and globally.
Check out episode # 14 below… VIA THE CLOUD…. Soundcloud that is 🙂
Check out this important episode as we disclose it all here on the EFR Podcast. #Stay Blessed & God Bless -SB
The emerging BRICS Nations (China, Russia, Brazil, South Africa and India) have set out to start their own BRICS Emerging Nations Development Bank. The BRICS countries represent approx forty percent (%) of the global population at hand.
The BRICS bank will have $100 billion dollars devoted to each countries development and expansion. The central location for the bank will be in Shanghai, China. The bank is speculated to be launched at the end of the year, 2015.-SB
Emerging markets are distressed especially as commodities are taking hits in more way then one way, and an increasing dollar has devalued currency, in which nations that depend on them have had to engage their federal banking system to step in and mitigate the hemorrhaging.
For example, Brazil’s decade high inflation and recession, Nigeria, Venezuela declining oil prices. In Russia many people are switching to US currency to hedge against the railing of the Russian Ruble. Also the Gulf which is seeing catastrophic impact as oil prices plunge immensely.
All these calamities are taking a toll on emerging markets entirely. The major question is when will the tide turn or at least halt. This remains to be seen. One thing for sure the capital that has outflowed from these emerging economies has definitely emerged and left a rippling effect to these economies as well.-SB