New article posted below titled, “Millennials and China’s Drive for Oil”
1) The markets, both domestic and international, dropped significantly because of Turkey’s declining economy and the drastic drop in the value of its currency.
2) Indications of possible housing troubles or crisis striking in the future, comes from a study by GOBankingRates. This study looked at things like the percentage of mortgages that have negative equity, vacancy and delinquency rates, scoring each category to come up with a final ranking. Housing prices have soared, with America’s lack of affordable housing creating desperate buyers.
3) People ask why wages aren’t growing, because for most US workers, pay raises remain elusive. With more job openings than unemployed workers, traditionally wages should raise with the raise of unemployment. However, worker’s productivity is increasing, specifically because of increased technology, which means overall, fewer workers are needed for the economy.
4) The owner of jean manufactures Lee and Wrangler is considering selling off the brand names because sales remain in a slumped. Younger people prefer the fashion orientated, but more expensive brands.
5) 10 AUG 18 Stock market closings:
Dow 25,313.14 down 196.09
Nasdaq 7,839.11 down 52.67
S&P 500 2,833.28 down 20.30
10 Year Yield down at 2.86%
Oil up at $67.75