Wild Ride on Wall Street Continues
The stock market swung wildly this week, fueled by fears over the tariff war with China, a slowing global economy, high-level firings at the White House and news of Russian aggression in Eastern Europe. Driven by a truly incredible confluence of events, the market has yet to regain its balance. That said, the fundamentals are strong, and tech remains the leading force in the global economy.
“Anyone watching stocks this month knows that sentiment can turn on a dime. Jittery investors trying to read the tea leaves have seen bad omens practically everywhere over the past few weeks — even good news has rattled the markets at times,” write David Goldman and Nathaniel Meyersohn of CNN Business.
The Dow finished 260 points higher Thursday – the same day the market lost more than 600 points in earlier trading. Investors clearly are still reacting to the Fed’s recent decision to raise interest rates and gradually unwind the “easy money” policies it deployed to combat the previous decade’s deep recession.
“The American economy remains strong, and most economists expect solid, if slower, growth in 2019,” write Goldman and Meyersohn. “Tech, which led yesterday's rally, finished the day mixed. Amazon (AMZN) and Apple (AAPL) fell slightly, while Facebook (FB), Alphabet (GOOGL), and Netflix (NFLX) ticked up … 3M (MMM) and IBM (IBM) were the top performers on the Dow. GE (GE) had its fifth-best day of the year Wednesday, but dropped 1.6% Thursday.”
Chevy Unplugs the Volt
Chevrolet has decided to retire the Volt, one of the early entrants in the electric car market. The Volt was a hybrid and it paved the way for newer and larger models of non-traditional automobiles for consumers who were increasingly concerned about the impact of fossil fuels on the environment.
“A decade ago, the Volt, a plug-in hybrid, was the signal to the country and the world that General Motors might have run out of money, but it still had ideas and engineering talent. But it was ultimately eclipsed by GM’s successful launch of the Bolt EV—the $37,500 all-electric car that beat Tesla’s Model 3 to market,” writes Alex Davies of Wired. “The idea for the Volt came largely from GM bigwig Bob Lutz in 2006. He was tired of hearing praise for Toyota’s hybrid Prius and chatter about some upstart called Tesla run by a guy with a funny name. He wanted GM to prove it could still be innovative … The Volt was a compact, four-seat car that could drive about 40 miles on a fully charged battery, then run a gasoline-powered generator to stay on the road.”
Slowing sales and shifting consumer demand were blamed for Chevy’s decision to pull the plug on the pioneering hybrid vehicle.
Do You Have the Best Apps on Your iPhone?
There are thousands of great apps available for your iPhone, but are you sure you have the best ones? The editors of The Verge have compiled a handy list of their favorite iPhone apps, and I recommend reading it.
There are a couple of surprises on the list, including Dark Sky (a hyperlocal weather app) and Fantastical (a user-friendly calendar and scheduler app). The list also includes helpful reminders of apps you should definitely have, including Venmo (a social payment app) and Deliveries (an app for tracking deliveries from online merchants).
Happy downloading and enjoy!