June 19, 2019
WHAT’S HAPPENING AROUND HERE
One Voice at Summer Concert Series: Singing on the Square on the Marion Street side of the Limestone County Courthouse in downtown Athens from 7:00PM-9:00PM on Friday, June 21st. Come early and enjoy the shops and eateries then kick back in your camp or lawn chair for an evening of music. Free and open to the public.
THIS WEEK’S ECONOMIC DATA
- U.S. Consumer Price Index rose slightly, an indication inflation remains moderate.
- Initial jobless claims unexpectedly rose after the first week in June.
ECONOMY AND EQUITY MARKETS
U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy could increase pressure on the U.S. Federal Reserve (Fed) to cut interest rates this year. The report from the Labor Department showed some pockets of inflation, with rents and health care costs rising solidly, which could buy the Fed some time before easing monetary policy.
Late in the week, U.S. government bond prices rose, as fears of a military standoff with Iran sent investors into assets perceived as safe. The yield on the benchmark 10-year Treasury settled at 2.096% on Thursday.
FedEx and Amazon Part Ways – FedEx announced it is cutting its domestic air services business with Amazon, a sign the shipping company may soon be “getting out of the Amazon business” entirely. FedEx currently brings in about $840 million a year from Amazon orders, and its air delivery, FedEx Express, accounts for some $150 million.
A New Weekend Getaway – NASA announced a plan to allow private citizens to fly to the International Space Station and stay for up to 30 days. The price tag? $35,000 per night. Travel is additional: A space tourism company, Bigelow Space Operations, says it has reserved seats on flights to the space station with SpaceX; Bigelow will charge $52 million for the trip.
Operation Meltdown – New York City law enforcement seized 46 ice cream trucks last week in “Operation Meltdown.” The city alleges the truck operators racked up 22,000 summonses and nearly $4.5 million in fines for traffic violations between 2009 and 2017.
Wednesday: Federal Reserve Open Market Committee rate decision
Thursday: Initial Jobless Claims
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QUOTE OF THE WEEK
“In a moment of decision, the best thing you can do is the right thing to do. The worst thing you can do is nothing.” Theodore Roosevelt
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*Economy and Equity Markets…(Source: CNBC)
*Fixed Income…(Source: The Wall Street Journal)
*FedEx and Amazon Part Ways…(Source: Memphis Commercial Appeal)
*A New Weekend Getaway…(Source: NBC News)
*Operation Meltdown…(Source: CNN)