US stocks had their worst week since March on mounting trade war fears. The S&P 500 fell 0.9% and the Dow sank 2.0% for the week. Internationally, Japan eased 1.5% and Europe declined 1.1% for the week. The yield on the 10-year Treasury fell over the week, ending at 2.90%. Oil prices surged 4.6% to $68.58 a barrel after just a modest increase in production was agreed to by the world’s major oil producers. Article
GE, one of the 12 original companies in the Dow will drop out of the benchmark and be replaced by Walgreens.
The first quarter is expected to be near the peak of earnings growth. Earnings growth is expected to grow 19% in the second quarter 21% in the third quarter and 17% in the fourth quarter. Then in 2019 expectations are for single digit earnings growth.
Trump asked his administration to prepare a new 10% tariff on $200 billion worth of Chinese goods.
The Supreme Court ruled that states have the power to collect sales tax on goods sold online. Article