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1984 — “Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the party is always right.”
US Q1 GDP (third reading) -5.0% v -5.0% expected
Second reading was -5.0%
Q4 2019 reading was +2.1%
Final sales -3.5% vs -3.7% prelim
Consumer spending -6.8% vs -6.8% prelim
GDP deflator +1.6% vs +1.6% prelim
Core PCE +1.7% vs +1.6% exp
Business investment -6.4% vs -7.9% prelim
Corporate profits after tax -12.4% vs -14.2% prelimInventories cut 1.56 percentage points from GDP.
US May prelim durable goods orders +15.9% v +10.5% expected
Final April -17.7% (lowest on record)
Ex transport +4.0% vs +2.1% exp (-7.7% prior)
Capital goods orders non-defense ex-air +2.3% v +1.0% exp Prior -6.1% (revised to -6.5%)
Capital goods shipments non-defense ex-air +1.8% v -1.0% exp Prior -5.7% (revised to -6.2%)US May prelim wholesale inventories -1.2% v +0.4% expected
Prior +0.3% (revised to +0.2%)
Retail inventories -6.1% vs -2.8% expected
Prior retail inventories -3.6% (revised to -3.8%)Mexican central bank lowers rates to 5.00% from 5.50%, expected
Vote was unanimous
Balance of risks for inflation is to the downsideUS 7-year notes $41 billion auction at 0.511% v 0.515% WI
Prior 0.553%
2.49 bid-to-cover v 2.55 prior[color=green][size=5][b]Dow 25,745.60 299.66 1.18%
S&P 500 3,083.76 33.43 1.10%
Nasdaq 10,017.00 107.84 1.09%
GlobalDow 2,816.73 13.43 0.48%
Gold 1,772.40 -2.70 -0.15%
Oil 39.04 1.03 2.71%[/b][/size][/color][color=green][size=5][i]And some uplifting songs of good cheer 8)
Karen Ashbrook is one of world’s best on Celtic Hammer Dulcimer
Her “Hills of Erin” album of 1993 was always #1 CD in the case – lol 8)[/i][/size][/color][color=teal][size=5][b]Good FRIDAY morning to all … one more day til the weekend
Not sure where to begin in our mad mad world ..
as #45 wants us to take a little risk & get back to work
while VP Joe who can barely formulate a sentence
tells us we have 124 MILLION deaths in USA
Still each one of us has to do best we can[/b][/size][/color]With COVID19 #Texas Gov. Abbott shuts bars back down and capping restaurant capacity at 50%.
He also shut down river-rafting trips and gave more freedom to local officials to restrict outdoor gatherings.
“At this time, it is clear that the rise in cases is largely driven by certain types of activities, including Texans congregating in bars,” Abbott said in a press release. “The actions in this executive order are essential to our mission to swiftly contain this virus and protect public health.”
Before Abbott’s announcement Friday, bars were able to operate at 50% capacity and restaurants at 75% capacity
Texas saw another record number of new cases Thursday — 5,996 — as well as hospitalizations — 4,739. The hospitalization number set a record for the 14th straight day.
There has also been rapid rise in the state’s positivity rate, or the ratio of cases to tests. The rate, presented by the state as a seven-day average, has gone up to 11.76% — where it was at in mid-April and above the 10% threshold that Abbott has said would cause alarm for the reopening process.
“We want this to be as limited in duration as possible. However, we can only slow the spread if everyone in Texas does their part,” Abbott said. “Every Texan has a responsibility to themselves and their loved ones to wear a mask, wash their hands, stay six feet apart from others in public, and stay home if they can.”
[size=5][b]Ohhhhh the Humanity – Banks must now conserve & scale back dividends
and meet FED fiscal soundness tests … DOW off about 500 points[/b][/size]
https://www.marketwatch.com/story/the-federal-reserves-bank-stress-tests-put-dividend-payments-at-risk-2020-06-26?mod=home-page
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