wed Sept 11, 2024
A read of the WSJ continues to reveal a weaker economy, today
BMW stock as well as its brake supplier Continental dropped 11% in one day. There is a brake problem with 1.5 M vehicles. Chinese sales fell 4.8% year over year. And that is due to an ever weaker Chinese economy.
Estee Lauder Chinese brands have lost 3/4 of market value since 2022.
Right on schedule the EU is fining Apple and Google,both lost an attempt to pvertutn multi-million dollar rulings against them. Same thing is happening here. Governments have a track record of attacking successful business at the top of the stock market, RCA in 9269, IBM in 1966, MSFT in 2000.
I am surprised at the weak bounce back in the markets, mixed this morning but unimpressive over all.
The DJIA is off 700 points, yikes so much for a bounce back!
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