Within hours of the imposition of President Trump’s sweeping tariffs against the world, the impact was felt by autoworkers in North America, with the announcement of thousands of layoffs by Stellantis at plants in the United States, Canada and Mexico.
Tag: Dow Jones Industrial Average
Weak US jobs report not weak enough: Financial markets plunge
The U.S. Bureau of Labor Statistics (BLS) reported Friday morning that just 263,000 jobs were added in the month of September, down from 315,000 in August. The total of new jobs matched the previous low, in April of 2021, for monthly job creation over the past 20 months.
Weak US jobs report not weak enough: Financial markets plunge
The Euro Without German Industry
By Michael Hudson
The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines in four places on Monday, September 26, has focused on speculations about who did it and whether NATO will make a serious attempt to discover the answer. Yet instead of panic, there has been a great sigh of diplomatic relief, even calm. Disabling these pipelines ends the uncertainty and worries on the part of US/NATO diplomats that nearly reached a crisis proportion the previous week, when large demonstrations took place in Germany calling for the sanctions to end and to commission Nord Stream 2 to resolve the energy shortage.
The Euro Without German Industry
The American Empire Self-Destructs
War of the (Financial) Worlds
Trump Issued an Executive Memorandum Giving Mnuchin a $50 Billion Slush Fund; Mnuchin Gave Himself $386 Billion More
Five days before Congress passed the CARES Act on March 25 of this year, President Donald Trump issued an Executive Memorandum giving U.S. Treasury Secretary Steve Mnuchin complete discretion to use $50 billion in the Treasury’s Exchange Stabilization Fund (ESF) as Mnuchin solely saw fit. The Memorandum was dated Friday, March 20. On the prior Tuesday and Wednesday of that same week, Mnuchin had already used $20 billion of the Exchange Stabilization Fund to bail out Wall Street. As Mnuchin’s letter of November 19 to Fed Chair Jerome Powell confirms, he gave (or committed) $10 billion from the ESF to the Fed’s Commercial Paper Funding Facility on March 17 and another $10 billion to another Fed emergency lending program, the Money Market Mutual Fund Liquidity Facility, on March 18.
After 92 Years, Exxon Is Booted from the Dow Jones Industrial Average: A Nod to Sustainable Energy?
After 92 Years, Exxon Is Booted from the Dow Jones Industrial Average: A Nod to Sustainable Energy?
Yesterday, S&P Dow Jones Indices made the stunning announcement that Exxon Mobil, which has been in the Dow Jones Industrial Average for 92 years, will be replaced in the index before trading begins next Monday, August 31, by Salesforce, a company that went public in 2004. (Exxon Mobil became a component of the Dow in 1928 under the name Standard Oil of New Jersey.)
Two other companies are also being replaced in the Dow before trading begins on Monday. The biotech company, Amgen, will replace the more traditional pharmaceutical company, Pfizer. Industrial technology products company, Honeywell International, will replace Raytheon Technologies.
Related:
Pfizer Got Kicked Off the Dow Just as Things Were Looking Up
Ms. Cat’s Chronicles 