See new posting below – EFR Podcast Ep # 27
1) President Trump has proposed lowering the car fuel efficiency or CAFÉ standards as a further stimulus to the economy. Under President Obama, standards were set at 54.5 miles per gallon by 2025. This standard would be rolled back to a maximum cap of 37 mpg in 2027. Already debate has started raging, with several states threatening law suits.
2) Apple computer has become the all time biggest corporation by reaching the historical record as the first trillion dollar company of net worth. If you had purchased a thousand dollars worth of Apple stock ten years ago, you would have almost $10,000 today.
3) California continues with its plague of wild fires, that is costing the state huge monies to fight, and that’s not considering the huge property losses. One fire has already destroyed over a thousand homes. So far, California has spent $125 million dollars fighting the fires, 25% of it’s annual fire fighting budget, and the fire season is far from being over.
4) 2 AUG 18 Stock market closings: Apple’s record breaking company size drove the Nasdaq up.
Dow 25,326.16 down 7.66
Nasdaq 7,802.68 up 95.40
S&P 500 2,827.22 up 13.86
10 Year Yield 2.99% down 0.02
Oil up at $68.95