1) Congress has moved to suspend the sale of F-35 advance fighter planes to Turkey. Concerns over Turkey’s drift toward the Kremlin have raised doubts about the security of America’s advance technology, couple with Turkey’s recent record on human rights, which has left those in Congress reluctant to trust Turkey as an allie.
2) President Trump and the government is making plans to provide aid to farmers to offset the effects of tariffs from China. Anticipate $12 billion dollars in relief.
3) Poland has requested that US troops be permanently stationed in country. Consideration is being made to send a permanent party of 1000 army troops. They would serve as a trip wire to deter Russia from invading Poland for fears of involving Americas in combat.
4) A slump of home sales in California is sparking fears of a crash in the home market. Home sales dropped in June by 11.8%, and was worst for newly built homes. The axiom ‘where California goes, the nation goes’ gives further concerns about the economy in general.
5) 24 JUL 18 stock market closing:
Dow 25,241.94 up 197.65
Nasdaq 7,840.77 down 1.10
S&P 500 2,820.40 up 13.42
Oil up at $68.76