1) GE (General Electric) paid $1.5 billion dollars civil penalty for sub-prime house loans prior to 2007, to resolve claims over residential mortgage loans made by their WMC Mortgage unit, a company purchased by GE during the boom prior to the economic collapse in 2008. Their lending activities concealed the poor quality of the loans being made.
2) The Chevron oil company is buying the Anadarko Petroleum Corporation for $33 billion dollars which will put Chevron Corporation in the top ranks of energy companies. Chevron will be the third largest oil producer behind Exxon and Shell.
3) The GE20 group announced the global economy is slowing down faster than was expected, with an anticipated global growth of 3.3% for this next year. This is the lowest expansion since 2016, which may become worst if US-China trade tensions should increase.
4) 12 APR 19 Stock market closings: JP Morgan-Chase and Disney pushed stocks up.
Dow 26,412.30 up 269.25
Nasdaq 7,984.16 up 36.80
S&P 500 2,907.41 up 19.09
10 Year Yield: up at 2.56%
Oil: down at $63.76