With energy prices skyrocketing coupled with China’s clean energy transition strategy to lower emissions Zhejiang province authorities ordered around 160 energy-intensive companies to temporarily halt production.
The Chinese economy rose 18.3% yoy in the first quarter, though lower than the market consensus of 19%. China’s growth accelerated from 6.5% growth in Q4 . This was the strongest pace of expansion since 1992 (when records were first published)
General Electric reported better than expected fourth quarter earnings before the open Wednesday. $GE Shares continued to recover, rising 10% to be up nearly 50% in the past 12 months to its highest level since October 2018.
General Electric reported weaker than expected third quarter earnings before the open Tuesday. $GE also slashed its dividend to a penny also an SEC probe into its accounting practices widened. GE fell to a new seven year low on the negative news flood.
Former Dow member General Electric reported better than expected second quarter earnings before the open Friday. Aviation and healthcare were the stand outs, power and renewabe energy the the lagards.
General Electric (GE) often seen as bellwether for the U.S. economy and just like the economy the stock is floundering near 2015 levels and is the second worst performer in the Dow this year. $GE reports Q217 earnings before the open Friday.