Business Report - Week 5 (From 1st to 8th February 2019)

Published on February 11, 2019

Business Report - Week 5 (From 1st to 8th February 2019)

Business Report - Week 5 (From 1st to 8th February 2019)

Trade talks between China & the US are still ongoing and a trade deal has not been drafted yet. However, the trade deadline (March 1st) could be moved, according to a US White House senior official. Uncertainties about another government shutdown increases.

  • U.S. Markets weekly performance

        - Dow Jones: +0.17%

        - Nasdaq: +0.47%

        - S&P 500: +0.05% 

  • The Dow Jones has now been up for seven straight weeks.

  • Google beat earnings expectations with net revenue of $31.33 billion (up 21% year-to-year).

  • Spotify has generated a profit for the first time in its 10-year history.

  • Disney beat earnings expectations. Its growth was mainly driven by Disney’s domestic parks. Its growth is expected to continue with its new streaming service project, Disney+, competing with Netflix.

  • Regional banks, SunTrust and BB&T, merged for a total amount of $66 billion.

  • Twitter stock price tumbled by 10% despite better than expected earnings and revenue.

  • Fiat-Chrysler posted a weak outlook for 2019. The automaker reported weak sales in North America, the world’s biggest auto market.

  • The tractor-trailer indicator shows a 3-month decline in new truck orders. Historically, this data is an indicator of how healthy the US economy is.

  • The National Retail Federation predicts a rise between 3.8% to 4.4% in consumer spending this year. The government shutdown, the trade war between the two biggest economies of the world could alter that forecast.

  • The former chair of the Federal Reserve, Janet Yellen, said in an interview that the Fed might cut interest rate if the US economy weakens or financial conditions tighten.

  • The EU slashes growth forecasts for all the euro area’s major economies, warning that Brexit and a China slowdown may make things worse.

  • Bill Gross, aka the “Bond King”, is retiring from investment firm Janus Henderson. He wants to focus on managing his personal assets and charitable foundation.

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