Cleveland Financial Group
108 North Main Street, Rear Building
Mansfield, OH 44902
Financial and Economic Brief - August 7, 2018
• 5% Treasury Yield Warning - JPMorgan Chase & Co. chief executive officer, Jamie Dimon, warned investors that they should get ready for U.S. yields of 5 percent.
• Oil Rises after Production Falls - Oil rose on Monday after Saudi crude production fell in July and U.S. drilling appeared to slow down, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel.
• Pepsi Co. CEO Stepping Down - Indra Nooyi, PepsiCo. CEO, is stepping down but will remain as chairwoman of the board of directors until early 2019.
Financial and Economic Brief - July 3, 2018
• Consumer Sentiment Rises - Chief Economist for The University of Michigan's survey Richard Curtin said one-in-four consumers mentioned the potential negative impact of tariffs on the domestic economy.
• ADM in Talks with Neovia - Archer Daniels Midland Company (ADM) is in talks to take over French animal feed business Neovia for 1.5 billion euros ($1.75 billion) in order to expand in the animal nutrition sector.
• Tesla Meets Production Target - Tesla's first mass production vehicle missed two Ņambitious' production targets, but Musk promised investors that the company would make 5,000 Model 3s per week by this time of year.
Financial and Economic Brief - June 26, 2018
• Harley-Davidson Moving Some Production Overseas - The EU launched tariffs on American imports like bourbon, peanut butter and orange juice on Friday.
• Oil Prices Fall - Brent crude oil fell by more than 1% today as investors prepared for an extra 1 million barrels per day (bpd) to hit the markets after OPEC and its partners agreed to raise production to “stop the gap” between supply and demand.
• SEC Probes Earnings per Share - The SEC is investigating whether publicly traded U.S. companies have been rounding up their quarterly earnings to the next highest cent.
Financial and Economic Brief - June 19, 2018
• U.S. GDP Models, Higher - The U.S. economy is likely growing faster than expected, and raised its second-quarter growth forecast to 4 percent from 3.9% on Friday, citing strong manufacturing economic data.
• DJIA Falls amid Growing Trade Tensions - The Dow Jones Industrial Average fell more than 200 points on Monday morning as well as the other major indexes, as China’s “retaliatory action” against U.S. tariffs renewed fears of a trade war.
• Eurozone vs. Greek Government - Eurozone finance ministers are ready to face a conflict this week with the Greek government over the terms of a “golden goodbye” as Greece prepares to leave its third bailout program.
Financial and Economic Brief - June 12, 2018
• New Rate Hikes Soon - The Federal Reserve is due to announce another rate hike this week amidst a “spat” between the U.S. and its Western allies over trade tariffs.
• Rolls-Royce Cutting Jobs - Britain’s Rolls-Royce said a compressor problem found on a “small number of high life Package B engines” are requiring an inspection of the B fleet and sending its shares down 1%.
• Global Economy Risks - Economists warn that trade fights, geopolitical tensions, rising oil prices and emerging market crises could be detrimental to economic growth.
Financial and Economic Brief - June 5, 2018
• Strong Employment Signals Rate Hikes - May’s strong employment report of 223,000 new jobs in May including a gain in wages of 0.3%, indicates the Fed is on track to raise interest rates in June and could even add a fourth rate hike to its forecast this year.
• U.S. Stocks Rise - U.S. stocks rose on Monday led by gains in technology shares and Friday’s jobs data, which gave investors confidence that the U.S. economy remained strong.
• More Store Closings for Sears - Sears Holdings is closing 63 stores because the company hasn’t earned a profit since 2010.