Category Archives: Wall St.
On Saturday President Trump and Chinese President Xi backed away from the precipice of trade war. And stocks jumped up.
But on Wednesday, Trump being Trump, tweeted “I am Tariff Man.”
And Wall Street jumped out the window.
As the economy grows the fed has been raising interest rates. President Trump isn’t pleased and he let Chairman Powell know it. He said “it looks like he’s happy raising rates.” As of Wednesday stocks were negative territory for the year.
Elon Musk tweeted that he wants to take Tesla private and has $70 billion in backing to do it. Tesla shares jumped 10% on the news. But now that the S.E.C. is on his case for possible fake news Tesla tweets the stock is back to ground zero.
On Thursday Apple became the first company ever to be valued over a trillion dollars.
Trillion Dollar Apple
That’s a number equal to one fourth of annual federal spending. Or one twentieth of the federal debt.
The stock market unfriended Facebook yesterday. Investors vaporized $119 billion of Facebook’s value – 20% of the company’s market cap. It was the biggest 24 hour stock sale in history.
Facebook Face Plant
Hope his student loan is paid off.