1) Chinese economic growth has slowed to its lowest level in twenty-seven years, a result of the prolong trade war. Additionally, global growth has slowed, coupled with external uncertainties increasing. China is reporting a fall in both exports and imports for the first six months of this year. The Chinese are working on more stimulus measures to stabilize growth such as boosting infrastructure spending and interest rates cut, while also seeking loans from abroad.
2) Just like all youth, the millennials and generation-Z, have aspirations for their lives and the direction they want to go. Presently, these two groups comprise 40% of the American population, but like previous generations they disdain much about the older generation’s lives such as cars, big houses and material wealth. They want careers that make a difference even if not paying much, where they can provide some greater good to society. The fly in the ointment is their exploding student loan debt coupled with the growing obsolescence of American workers, in particular the younger ones.
3) Huawei, the Chinese telecommunications giant recently in the news so much, plans hundreds of layoffs in the near future. These layoffs are expected to be in Huawei’s U.S. development subsidiary Futurewei, a technology development center, which employs 850 people across several states. Blacklisted by the American government because of security risk issues, the company expects to lose $30 billion dollars in sales over the next two years.
4) Stock market closings for – 15 JUL 19: All three markets set new record highs.
Dow 27,359.16 up 27.13
Nasdaq 8,258.18 up 14.04
S&P 500 3,014.30 up 0.53
10 Year Yield: down at 2.09%
Oil: down at $59.30