New article posted below titled, “Millennials and China’s Drive for Oil”
1) President Trump imposed another 25% tariff on China, these tariffs on the high technology companies, including the semiconductor factories who supply a large portion of transistors and integrated circuits to American industry.
2) The President predicted that the GDP for next quarter (Q3) will break 5%. Recent economic improvements have brought many American business leaders back to supporting Trump.
3) American airline companies are reducing the number of flights to Mexico because the number of passengers going to Mexico has dropped. Fewer people are going to Mexico because of fears of being caught up in drug violence.
4) China is imposing additional tariffs on imports from America as the trade war continues. China says it will answer ‘dollar for dollar’ all tariffs American imposes on China.
5) A report has been released detailing the cost to pay for programs advocated by socialist politicians. Models estimate that cost would be $42 Trillion dollars over a ten year period. This would amount to about 40% of America’s GDP. The programs being advocated are free college for everyone, guaranteed jobs and single payer health care.
6) 8 AUG 18 Stock market closings:
Dow 25,583.75 down 45.16
Nasdaq 7,888.33 up 4.66
S&P 500 2,857.70 down 0.75
10 Year Yield down at 2.97%
Oil up at $67.02