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Thursday, Nov 2nd 2017

 

There are speculations that the United States Tax reform will have taxes for retailers, For example, import and export provisions to tax foreign goods. The White House has also set goals for eradicating the estate tax for the fiscal year 2024. There are also reports for a 2% federal funds rate target set for the fiscal year 2018. In the Capital markets today, the dow and standards and poor are down. Apple will announce earnings later today currently their stock is down 54 basis points. The car manufacture Telsa has announced losses for the third quarter as well as pushing back of production targets due to production halts at the factory. There is speculation that the new fed chair of the Federal Reserve will be Jerome Powell.  In the Global news, the Bank of England has announced an increase in interest rates this morning. The rise in interest rates has led to the weakening of the British pound (GBX) relative to other currencies.

 

Sources: The following data has been paraphrased and or collected from the wall street journal, NPR, and Bloomberg.

 

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