Samuel Stebbins 24/7 Wall Street Published 8:32 AM EST Dec 26, 2018 The U.S. economy is subject to complex, interconnected forces too innumerable for any one person to account for or anticipate. Still, when it comes to the health of the economy, the buck often stops at the president's desk. While by no means a comprehensive measure of economic health, the performance of the Dow Jones Industrial Average stock index is often used as a proxy for overall economic prosperity. The best known stock market index, the Dow tracks the value of 30 public company stocks that together represent all major industries, except for transportation and utilities. Though the companies that make up the DJIA change over the years, the index’s purpose and utility does not. The Dow’s performance has varied under each president. Under a handful of administrations, the DJIA fell considerably. Under the leadership of others, the Dow more than tripled. 24/7 Wall St. reviewed the change in … [Read more...] about Stock market performance: Dow under every president in past 100 years
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Shares in Apple, the price of oil, and the euro rose in a global relief rally after US President Donald Trump and China President Xi Jinping declared a ceasefire in their $200bn (€175bn) trade war. However, analysts mulled how long the truce would last.Apple shares, which have fallen sharply since reaching their record peak only two months ago, rose as much as 2% as investors breathed a sigh of relief that the company, which manufactures many of the parts of its iPhones in mainland China, may have escaped any escalation in the dispute.The euro rose 0.3% against a weakened dollar on the view that there may be less need for investors to use the US currency as a haven against risk.Meanwhile, the price of Brent crude, the global benchmark, which surged 2.5% to almost $61 a barrel, was held back by uncertainty over the plans for Opec to cut supply as Qatar left the cartel.The debate about how long the truce will last has already started.Andrew Hunter, US economist at Capital Markets, … [Read more...] about Apple shares, oil price, and the euro get boost as US and China agree on trade ceasefire
A cocktail of pipeline constraints, suffocating regulation and refinery maintenance season in the US has proven to be a disaster for the Canadian oil patch. Oil prices in Canada plunged late last month, with the losses continuing throughout much of October. Canadian oil producers exposed to the low prices are now fetching around $40 to 50 per barrel less than their counterparts in the United States. Western Canada Select (WCS), which tracks heavy oil from Canada, typically trades at a discount relative to WTI. The lower price reflects quality issues, as well as the cost of transport from Alberta to refineries in the US. Read more In early 2018, the discount started to grow significantly, the result of Canadian pipelines filled to the brim. The inability of the Canadian oil industry to build a major pipeline from Alberta to either the US or the Pacific Ocean is increasingly dragging down WCS. Keystone XL, Northern Gateway, Energy East, Trans Mountain Expansion – all of these … [Read more...] about Why is Canadian crude selling for $20?
Adam Shell USA TODAY Published 2:37 p.m. UTC Aug 30, 2018 The share price of Amazon, the online retail giant and one of Wall Street's most popular and best-performing stocks, topped $2,000 for the first time Thursday, putting it within striking distance of joining Apple as the only U.S. companies with a market value of $1 trillion. The surge in Amazon's stock price comes as technology shares continue to lead the U.S. stock market higher and drive indexes with big tech weightings, such as the Nasdaq composite and Standard & Poor's 500, to record highs. At its peak price of $2,006.70 -- as of late morning on Thursday -- Amazon's market value swelled to an estimated $978.75 billion. Earlier this month, Apple became the first U.S. publicly traded company in history to achieve a market value of $1 trillion. Amazon's stock has been one of the top performers in the bull market that began in March 2009, gaining more than 3,000 percent, data from … [Read more...] about Amazon stock price tops $2,000 for first time, inches closer to $1 trillion market value
U.S. President Donald Trump and outgoing Mexican President Enrique Pena Nieto said talks with Canada would begin immediately, though Trump threatened he could put tariffs on Canadian-made cars if a three-way deal could not be reached. "I think with Canada, frankly, the easiest we can do is to tariff their cars coming in. It's a tremendous amount of money and it's a very simple negotiation. It could end in one day and we take in a lot of money the following day," Trump said. Negotiations between the three trade partners have dragged on for more than a year and repeated threats by Trump that he would ditch the 1994 accord have roiled financial markets, putting pressure on the Mexican peso and the Canadian dollar. The Mexico-U.S. discussions focused on crafting new rules for the automotive industry, which Trump has put at the heart of his drive to rework the pact he has repeatedly described as a "disaster" for American workers. Canada would continue to negotiate, but would only sign a new … [Read more...] about US and Mexico put pressure on Canada after reaching new trade agreement