The market crawled it’s way out of the red the last twos with oil prices stabilizing. We found out that Russia and OPEC has not yet come to an agreement to freeze oil production. Saudia Arabia refuses to cut or freeze production since their afraid of losing market share.
Apple filed it’s motion with the court today outlining it’s defense against the FBI to write code that would enable the FBI to hack into iPhones.
Members of the Federal Reverse are out voicing their opinion that interest rates still need to go higher. Their crystal ball apparently is stuck on the good news economic channel. The Federal Reserve and other economists have never been able to tell when the country has entered into a recession. It’s usually takes the Federal Reserve about four months to come and say that we’re in a recession.
Unlike previous recessions, the Federal Reserve and other Central Bankers around the world have run out of options to prevent a recession or to lessen the blow of recession. With earnings slowing and the business outlook diminishing, the Federal Reserve isn’t even in the room. Unless of course, you have a microphone available for them to say the economy is doing great then they’re there.
Tomorrow is Friday and we’re get an idea on oil and consumer prices. This weekend’s topic is mutual funds investing.