Dow slid back 6, decliners over advancers 4-3 & NAZ went up 12. The MLP index fell 1+ to 290 & the REIT index was fractionally lower in the 352s. Junk bond funds inched higher & Treasuries were flat. Oil drifted lower after its recent run & gold was pretty much even.
Dow Jones Industrials
China’s foreign-exchange reserves posted a sixth straight monthly increase as the yuan strengthened & economic growth remained robust. The foreign currency stockpile climbed $23.9B to $3.08T in Jul, the People's Bank of China said. The level compares with a $3.075T estimate.
German factory production dropped unexpectedly in Jun but economists say there are still good signs for longer-term growth. The Federal Statistical Office said that Jun industrial output was down 1.1% versus the previous month with drops in the production of capital, consumer & intermediate goods. Economists had predicted a slight rise, but only energy sector production grew. The drop followed a 1.2% rise in May, however production this year has been strong overall & there are indications of a turnaround ahead.
Foxconn, the Taiwanese electronics giant known for making Apple (APPL), a Dow stock, iPhones, is reportedly planning to open a 2nd US facility in Mich to develop self-driving cars & other auto technology. Michigan Gov. Rick Snyder met with the company's CEO, Terry Gou, during a trade mission to China. After the meeting, Gou told said that Foxconn “will cooperate with Michigan on next generation auto technology, such as Internet of Vehicle (IOV) and self-driving cars.” “The Michigan investment will be unveiled soon, yet the transaction amount cannot be released,” Gou added. Gov. Snyder said he had a “very productive dialogue” with Gou about “the importance of talent in manufacturing and the future of autonomous driving.” “I believe we have a strong future with Foxconn, and while I don't have an announcement to make today, I think there are very exciting things to come in the future,” Gov Snyder said. Word of a potential investment in Mich comes on the heels of FoxConn's announcement that it will build a $10B factory in Wisc. The manufacturing facility, which will make LCD screens for computers, televisions & car dashboards, will create 3K jobs. The Wisc plant was hailed by Gov. Scott Walker & Pres Trump. Foxconn's total investment could reach $30B.
Not a lot happening. Foxconn's new investment in the US is the most exciting news, a reminder that Trump is helping to create more jobs in the US economy. The Dow is essentially at its record high & the bulls would like to take it higher by the close, for its 10th straight gain.
Dow Jones Industrials
Dow Jones Industrials
| CL=F | Crude Oil | 49.07 | -0.51 | -1.0% |
| GC=F | Gold | 1,263.50 | -1.10 | -0.1% |
China’s foreign-exchange reserves posted a sixth straight monthly increase as the yuan strengthened & economic growth remained robust. The foreign currency stockpile climbed $23.9B to $3.08T in Jul, the People's Bank of China said. The level compares with a $3.075T estimate.
German factory production dropped unexpectedly in Jun but economists say there are still good signs for longer-term growth. The Federal Statistical Office said that Jun industrial output was down 1.1% versus the previous month with drops in the production of capital, consumer & intermediate goods. Economists had predicted a slight rise, but only energy sector production grew. The drop followed a 1.2% rise in May, however production this year has been strong overall & there are indications of a turnaround ahead.
German factory production drops unexpectedly in June
Foxconn, the Taiwanese electronics giant known for making Apple (APPL), a Dow stock, iPhones, is reportedly planning to open a 2nd US facility in Mich to develop self-driving cars & other auto technology. Michigan Gov. Rick Snyder met with the company's CEO, Terry Gou, during a trade mission to China. After the meeting, Gou told said that Foxconn “will cooperate with Michigan on next generation auto technology, such as Internet of Vehicle (IOV) and self-driving cars.” “The Michigan investment will be unveiled soon, yet the transaction amount cannot be released,” Gou added. Gov. Snyder said he had a “very productive dialogue” with Gou about “the importance of talent in manufacturing and the future of autonomous driving.” “I believe we have a strong future with Foxconn, and while I don't have an announcement to make today, I think there are very exciting things to come in the future,” Gov Snyder said. Word of a potential investment in Mich comes on the heels of FoxConn's announcement that it will build a $10B factory in Wisc. The manufacturing facility, which will make LCD screens for computers, televisions & car dashboards, will create 3K jobs. The Wisc plant was hailed by Gov. Scott Walker & Pres Trump. Foxconn's total investment could reach $30B.
Foxconn eyes Michigan for second U.S. facility
Not a lot happening. Foxconn's new investment in the US is the most exciting news, a reminder that Trump is helping to create more jobs in the US economy. The Dow is essentially at its record high & the bulls would like to take it higher by the close, for its 10th straight gain.
Dow Jones Industrials
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