Week of Nov 23 2018 Weekly Recap & The Week Ahead
“There is only one side of the market and it is not the bull side or the bear side, but the right side.” – Jesse Livermore
1. New U.S. Report Complaint China Continuing ‘Unfair, Unreasonable’ Trade Practices — the U.S. Trade Representative said in an update to its “Section 301”, investigation into China’s intellectual property and technology transfer policies, Beijing has failed to take any substantive actions against its “unfair” trade practices. It’s not a good sign after last weekend’s tensious APEC summit. President Trump is also due to meet Xi Jinping in ten days at the G20 summit in Buenos Aires.
2. FedEx Adds EV Fleet — FedEx (NYSE:FDX) is adding 1,000 electric delivery vans to its fleet, which will come from Chanje Energy and Ryder System (NYSE:R). The vans can travel more than 150 miles and haul 6,000 pounds when fully charged, while having the potential to help FedEx save 2K gallons of fuel and avoid 20 tons of annual emissions per vehicle. All of the EVs will be operated in California.
3. Crypto Selloff Intensifies; Bitcoin Plunges 20% — Bitcoin (BTC-USD) hit the $4,000 level, continuing a week of major losses in the cryptocurrency world. The plunge comes amid a broad selloff in the equity markets, persistent concerns about regulatory scrutiny and disagreements within the coin developer community – known as a “hard fork.” Other cryptos down sharply include Ripple (XRP-USD), Bitcoin Cash (BCH-USD), Ether (ETH-USD) and Litecoin (LTC-USD).
The week ahead — Economic data from Econoday.com:
