Category: Economy

DOW Has Best Month Since President Taft — Only Reagan in 1987 Did Better

The Dow Jones Industrial Average (DOW) hit a new closing high record for the 8th straight day going back to February 9th breaking the 20,700 mark for the first time in history.  Counting weekends and holidays, the DOW has closed with new highs over the past 13 days.  The only other time in the history of the DOW where the DOW closed with new highs over more days was in 1987 under President Reagan.  The DOW closed with new highs over a 16 day period ending on January 20th of that year for the best in DOW history.       The DOW daily closing stock market...

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16 Days After Trump’s Victory, Stock Market Closes Above 19,000 For First Time Ever

Much to the dismay of Democrats everywhere, the election of GOP presidential nominee Donald Trump did not cause the world to come crashing down. In fact, things are improving. The Dow Jones industrial average closed at a record high on Tuesday, breaking the 19,000 mark for the first time in history. The Standard and Poor’s 500 index also rose by 0.2 percent, hitting a record high of 2202.94 points, according to USA Today. Nasdaq also closed out Tuesday at an all-time high of 5386.35, while the Russell 2000 index rose by 0.9 percent. The stock market has moved in a positive...

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Will Cuba’s economy continue to suffer, post Fidel?

The death of longtime Cuban dictator Fidel Castro will send Cuba into a temporary state of flux. It’s unclear what the next Cuban or American regimes will mean for the island nation. But one thing is certain according to George Mason University economist Tyler Cowen: even a truly capitalist Cuba will never become the Singapore of the Caribbean. After Castro comes more economic stagnation, Cowen wrote Saturday in Bloomberg. Assuming the United States will lift its decades old embargo and based solely off of neighboring tropical nations, he argues, the economic forecast for Cuba still remains glum. “The core...

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China Struggles to Steady Yuan’s Decline

China is facing an uphill battle to maintain an orderly depreciation of the yuan as investors pile up bearish bets against the currency outside the mainland. The gap between the yuan’s value against the dollar in the domestic market and in what is known as the offshore market in Hong Kong, has been widening in recent days. On Wednesday, this so-called spread reached 0.0333, its widest since the beginning of October (apart from the day after the U.S. election), although it narrowed a touch on Thursday. While the Chinese authorities strictly limit the way the yuan trades at home,...

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Ford Tells Trump: We Will Not Move Lincoln Plant to Mexico

President-elect Donald Trump said Ford had called to reassure him that the company has decided not to move its Lincoln assembly operations from Louisville, Kentucky to Mexico. “Just got a call from my friend Bill Ford, Chairman of Ford, who advised me that he will be keeping the Lincoln plant in Kentucky — no Mexico,” Trump wrote on Twitter. The news was shocking to local residents, since Ford had never announced any intention of moving Kentucky jobs to Mexico. Ford operates two plants in the Louisville community, with their truck plant producing the full-size Lincoln Navigator. Ford currently employs...

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