December 18, 2019
Amid all the chaos that took place in 2019, one thing is certain, the stock market has had a tremendous run.
The Dow Jones Industrial Average continues to soar, hitting new record highs this week.
Remarkably, since the 2016 election, the Dow Jones Industrial Average has gained over 10,000 points.
Here’s your weekly highlight.
Crisis Averted: A last minute $1.4 trillion spending package was passed by The House of Representatives on Tuesday, avoiding a government shutdown. The bill was passed to the Senate where it needs to be approved before a signature from the President will keep federal departments running. The House passed the bill less than a day after it was released by lawmakers.
Ford To Add 3,000 Jobs: The automaker has announced it is investing $1.45 billion in the Motor City, to build new pickup trucks, SUVs, and electric vehicles, according to CNBC. Ford says 2,700 jobs will be added within the next three years with plans to add an additional 300 jobs at its Dearborn plant. The hiring is set to begin in 2020.
Trade Deal ‘Phase 1’: An interim trade agreement was reached with China, narrowly missing the December 15th deadline. Both parties agreed to lower tariffs on $120 billion worth of Chinese products from 15 percent to 7.5 percent. A 25 percent tariff still stands on nearly $250 billion worth of Chinese imports.
Controversial Plane Suspended: Boeing has announced it will suspend production of the 737 Max in January. The highly contentious aircraft has been involved in two deadly crashes since launch, starting with the Lion Air accident in October 2018, followed by Ethiopian Airlines in March. The worldwide grounding of the plane is the longest ever of a U.S. airliner, affecting 387 planes.
Netflix Unveils Data: For the first time, the streaming giant has revealed its international subscription numbers. In Europe, the Middle East and Africa, Netflix subscriptions grew 140% from March 2017 to September 2019. Netflix says it is currently seeing faster growth in the regions outside of the U.S.
Unilever Gets Crushed: The consumer goods giant issued weak sales guidance on Tuesday, expecting sales growth to miss its 3-5 percent estimate for the year. Unilever says it is suffering from the heavy competition and weak demand. Shares fell over 9 percent following the announcement.
Crypto in Free Fall: The cryptocurrency has certainly failed to live up to the hype in 2019. The highly speculative cryptocurrency market lost over $7.2 billion in market capitalization since Monday. As of Tuesday, the total cryptocurrency market is worth over $184 billion.
Airbnb Sees Competition: The alternative accommodations platform may be seeing a new competitor. Domio, a startup that designs, then rents out properties with ‘full-home experiences’, has raised $100 million, according to TechCrunch. The company dubs itself the ‘anti-Airbnb’ and is valued at roughly $180 million.
Time Makes Money: Investors who are in a position to take on long-term investments and who don’t have high liquidity needs are in luck. We’ve rounded up 5 great long-term investment options. Read more in Investment Choices for Long-Term Investors.
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