Cleveland Financial Group
108 North Main Street, Rear Building
Mansfield, OH 44902
Financial and Economic Brief - November 5, 2019
• Consumer Confidence “Dips” - U.S. consumer confidence fell slightly in October to 125.9 from a September reading of 126.3 as worries over business conditions and employment prospects rose.
• Gannett and New Media Investment Group - Gannett reported its third-quarter earnings noting a continued decline in overall revenue but pointed to an increase in its marketing services & digital subscriptions.
• U.S.-China Trade Optimism - Technology stocks pushed the three main indexes to record highs, as hopes of a U.S.-China trade deal and an improving domestic economy raised risk appetite.
Financial and Economic Brief - October 8, 2019
• Unemployment Rate Falls - Unemployment hit a 50-yr. low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment.
• Impeachment and the Stock Market - The launch of an impeachment inquiry into President Trump tosses another wild card into a volatile stock market.
• Trade Talks Underway - U.S. & Chinese deputy trade negotiators launched a new round of talks on Monday aimed at resolving the 15-mo. trade war, with neither side showing any signs of giving ground.
Financial and Economic Brief - September 4, 2019
• Recent Jobless Claims Fall - Initial claims for state unemployment benefits dropped to 209,000 for the week ended August 17, 2019, falling sharply from the week before.
• Brexit Crisis Still Uncertain - British lawmakers will try to stop Boris Johnson from pursuing what they cast as a “calamitous no-deal Brexit”.
• New Wave of Tariffs in Trade War - The new tariffs are a sharp escalation in the trade war, and could cost U.S. households $800 a year.
Financial and Economic Brief - August 6, 2019
• Economy is Steady - The economy added 164,000 nonfarm payrolls in July, as expected. Wages rose 0.3% in July, or 3.2% year over year.
• Yuan Falls - The yuan fell 1.4% which breached the key 7-per-dollar level for the first time since 2008.
• HSBC CEO Out - HSBC chief John Flint is stepping down after less than two years on the job.
Financial and Economic Brief - July 3, 2019
• Stocks Steady amid Threatened Tariffs - Stocks were steady today after the U.S. threatened a new wave of tariffs on European goods, dulling recent optimism surrounding the U.S.-China trade truce.
• GE in Decline - GE's (GE) stock decline, down by nearly two-thirds since the end of 2016, has knocked the company down to the 59th most valuable in the S&P 500.
• OPEC, Allies Extend Supply Cut - OPEC and its allies agreed to extend oil output cuts until 3/20, seeking to prop up the price of crude as the global economy weakens and U.S. production soars.
Financial and Economic Brief - June 4, 2019
• U.S. Stock Market Futures Fall - U.S. stock index futures fell Monday, after the China and U.S. trade relationship “intensified” over the weekend.
• U.S. Inflation Ticks Up - U.S. consumer prices increased in April, which could support the Fed’s contention that recent low inflation readings were temporary and allow the Fed to keep interest rates unchanged for a while.
• Factory Activity Slows - An escalating trade war between the U.S. and China raised fears of a global economic downturn and put pressure on policymakers to roll out more stimulus.