1) Uber raised $8.1 billion in it’s IPO (Initial Public Offering), which was priced near the bottom of the range. Uber sold 180 million shares at $45 each, making its listing among the 10 largest U.S. IPOs. This gives Uber a market value of $75.5 billion dollars, however Uber is deeply unprofitable with $3.04 billion dollars in losses last year.
2) Traders wait to see if President Trump hikes tariffs today. U.S. equity futures were little changed this Thursday while traders wait for the midnight deadline when tariffs are scheduled to take effect. These tariffs will be imposed on $200 billion dollars worth of Chinese goods. Fears are that market reaction will be severe, which either way the tariffs goes.
3) The U.S. trade deficient has widened to $50 billion dollars in March, up 1.5% from February. Economists had anticipated the U.S. trade deficit to fall, but much of the increase came from higher crude imports.
4) 9 MAY 19 Stock market closings:
Dow 25,828.36 down 138.97 Nasdaq 7,910.59 down 32.73 S&P 500 2,870.72 down 8.70
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
1) Germany’s business outlook falters amid Brexit concerns of potential US tariffs, especially on their car exports in addition to uncertainty of the German people. Germany has the largest European economy.
2) The father of Reaganomics says it’s time to get out of the market. He cautions that the end of easy money policies, the huge deficit and a near record economic expansion are all signs of a pending market collapse.
3) Trade talks continue between China and US as tariff deadline nears causing worries of talks failing. But after meeting with his advisers and Chinese officials, President Trump has extended that deadline citing the talks are going so well. Negotiators have reached a compromise on key issues, such as China’s requirement that American companies give intellectual property and technology to do business in China, more purchases of agriculture and energy products such as liquid natural gas. But so far, there hasn’t been a signing of an official agreement.
4) 22 FEB 19 Stock market closing:
Dow 26,031.81 up 181.18 Nasdaq 7,527.54 up 67.84 S&P 500 2,792.67 up 17.79
New article posted below titled, “Failings of the Fourth Estate!”
1) Civil unrest continues to spread across Europe, from France, to Italy and Serbia. The yellow vest protesters in France tried to cross from France into Italy to join with the Italian protesters. Also, the protest by the separatist continues in Spain.
2) Generation-Z is doing the least preparations financially of the previous generations, only 16% doing any financial planning what so ever. They have higher credit card debt, spend big on nonessential things and have little savings.
3) The Chinese stated that trade talks are going remarkably well, giving hope that the trade war may yet be alleviated. Presently, there is a 10% tariff on $200 billion dollars, nearly half of China’s imports to the US, which will increase to 20% next week.
4) 11 FEB 19 Stock market closings:
Dow 25,053.11 down 53.22 Nasdaq 7,307.90 up 9.71 S&P 500 2,709.80 up 1.92