09.01.18 Market Wrap Up With Tom And Shane [Listen]
All the markets entered record territory this week. New York Exchange, S&P 500, NASDAQ all hit record highs.
The Dow Jones is up 18 percent for the year, the S&P 500 is up 17 percent for the year, NASDAQ up 26 percent for the year, and the Russell 2000 is up 23 percent for the year.
European markets are shaky due to tariff reductions on American cars, and unemployment in some countries.
China is not looking good most markets there are down. Trump is ready to drop the hammer on $200 billion in new tariffs against China in the coming months.
Will China have North Korea fire off a couple of missiles in October to upset our elections?
Oil holding steady and same with natural gas and gasoline. Gold also down but holding steady. Soybeans and wheat both up.
Aluminum down $11 for the week, steel down five dollars.
US bonds looking good and attracting lots of investors.
Currencies are off across the globe other than the US Dollar.
Venezuela’s inflation rate stands at 82,766 percent and rising. Iraq is heading down the same road in the months ahead.
Trump has trade deals all over the globe with a possible EU deal, a signed Mexico deal and a Canada deal in negotiations at the moment.
Also, the GDP was upgraded to 4.2 percent, food stamp enrollments are down, workforce is within two million workers of where it was 18 years ago.
Shane is predicting that if the Republicans hold the house and gain 10 seats in the Senate the Dow will reach 30,000 by the end of the year.
Is Amazon going to be the next trillion-dollar company? And is it time for an Amazon stock split to attract more investors.
Or, is Alibaba in China a better buy at $175 dollars a share with more revenue than Amazon and having fewer employees, and better margins than Amazon?
Listen in as Tom and Shane break down national markets.
Tune in each week to Open For Business and get the Weekly Market Report plus lots more business and political information.
We air every week 11AM to 2PM Mountain Time from the studios of AM 1450 KMMS in Bozeman, Montana.