1) PMI readings released for America, Japan and the Eurozone indicate a slowing down. This is a result of international tensions, with America having a one in four chance of a slowdown.
2) Honda announced it is pulling out of England, with a loss of 3,500 jobs. Honda claimed their decision wasn’t a result of Brexit, but Britain is considered to be a business friendly country and therefore a portal into the European Union, but with Brexit that will now be going away. Presently, about half the cars in Britain are Japanese models, and Honda’s withdrawal is raising fears that the other Japanese automakers will decide to also withdraw.
3) Fears deepen that the sharp rise of the yen may hurt Japan’s economy. Japan is plagued by low growth, tepid consumer purchases, fast falling of exports and an aging population, all which contribute to Japan’s economic woes.
4) 19 FEB 19 Stock market closings:
Dow 25,891.32 up 8.07
Nasdaq 7,486.77 up 14.36
S&P 500 2,779.76 up 4.16
10 Year Yield: down at 2.65%
Oil: unchanged at $56.09