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Aug 16

Highlights:
Not Good…
General Electric fought back Thursday  after the company was accused of fraud causing its stock to experienced its worst one-day percentage drop since April 2008. Shares of General Electric plunged more than 11% Thursday after Harry Markopolos, who is famous for blowing the whistle on Bernie Madoff’s Ponzi scheme in 2008, accused GE of orchestrating a massive fraud.  GE Board Director Leslie Seidman called the fraud allegations “baseless” and “inflammatory” . Markopolos in a report released on Thursday, accused GE of hiding nearly $40 billion of losses in its insurance business. Markopolos also took issue with how GE accounts for its majority stake in oil services firm Baker Hughes and accused the company of hiding more than $9 billion in losses in its separately traded BHGE  unit. Markopolos claims his findings are the largest case of accounting fraud he and his team have investigated.  Markopolos made several comparisons to Enron in his report and also on a new website with the URL www.gefraud.com. He accused GE of using what he dubbed “the ‘GEnron’ playbook.”
Retail Resale…
Macy’s has announced it will dip its toes into both the clothing subscription and apparel resale businesses. The department store operator will start  a pilot this month with resale marketplace ThredUp at 40 Macy’s stores across the country, taking up about 500 square feet of space at each location. As Macy’s puts merchandise from ThredUp into its stores, it will be taking items from brands and categories that Macy’s doesn’t currently. The move comes as millennial and Gen Z shoppers especially are looking for rental and resale options. The company hopes the new strategy will be a way for Macy’s to acquire new customers. Meanwhile, at its Bloomingdale’s business, Macy’s is working with CaaStle, a start-up that assists retailers in rolling out subscription clothing services as an increasing number of busy professionals would rather rent there wardrobe insert of going to the expense of buying it.
Markets:
Asia:  Asian shares closed mixed Friday as investors watched yields on longer duration U.S. Treasurys as well as for developments on the U.S.-China trade front.
Europe: European markets ended lower on Thursday a global bond yields continued decline.
U.S: U.S. stocks stabilized on Thursday as upbeat data on American shopping habits easier investors fears of recession. DJIA: +99.97 25,579.39 NASDAQ: -7.32 7766.62 S&P: +7.00 2847.60
Word of The Day:
AAA
The highest possible rating assigned to bond issuer by credit rating agencies. It signifies the issues has an exceptional degree of creditworthiness and can easily meet its financial commitments.

Diner or Drink:

Cava Sangria
Ingredients
8 large mint leaves
1 (750-milliter) bottle Cava sparkling wine, chilled*
3/4 cup white grape juice, chilled
1/2 cup sliced fresh strawberries
1/4 cup orange liqueur
Garnish: fresh sugar cane sticks
Preparation
1. Press mint leaves against sides of a large pitcher with back of a wooden spoon to release flavors. Stir in sparkling wine and next 3 ingredients. Serve immediately over ice. Garnish, if desired.
Have a  safe and wonderful weekend, Ya’ll!
Aug 15
Highlights:
I Want My Ears…
Cable provider Charter and ABC have reached a multiyear carriage agreement, avoiding a blackout of networks including ESPN and ABC. According to a joint statement, Charter has agreed to carry the ACC Network, a new network in the ESPN family, as part of the deal,The ACC network will carry college and basketball games including Clemson’s opening game against George Tech. Charter will also integrate ESPN+, Hulu and Disney+ into its set-top boxes to give pay-TV subscribers more seamless access to that programming,  The agreement marks the first major renewal deal Disney has struck since it announced its new trio of streaming services earlier this year. Disney+ will debut on Nov. 12.
Happy Fall Ya’ll…
Beverage giant, Coca-Cola is rolling out new flavors of its famous beverages this Fall.
Coming soon, soda lovers will be on the look out for for Coca-Cola Cinnamon and Sprite Winter Spiced Cranberry. Coca-Cola Cinnamon has been previously offered in the U.K,  but this is the first time the spice-filled flavor is coming to the U.S. The Sprite flavor is brand new to the market, anns s considered a “limited edition”. Both flavors will launch on September 30 and will continue to be available through December 31st, while supple last.
Markets:
Asia: Asian indices closed mixed on Thursday after the yi
Europe: European stocks tumbled Wednesday fueled by global recessionary fears.
U.S: U.S. markets tumbled on Wednesday after economic data showed both China and Germany’s economies are slowing down causing investors to run away from the risky stock market and into safe haven bonds. DJIA: -800.49 25479.42 Nasdaq: -242.42 7773.94 S&P: -85.72 2840.60
Word of The Day:
Yield Curve:
A line that plots the interest rates (how much the government will pay to borrow money from an investor) of bonds having equal credit quality, but differing maturity dates. Most frequently used to compare the  two-year and the ten year U.S Treasury notes aka debt.  Investor watch the curve closely as they feel it gives them a gauge of when a recession is likely to be on the horizon.
Bonds are seen as a safe investments. If investors are starting to feel nervous, they will typically sell riskier assets like stocks and put their money into bonds. This causes the yield of the bonds to go lower.

 

Dinner or Drink:
Whiskey Sour
.75 oz. Fresh lemon juice
.75 oz. Simple syrup (one part water, one part sugar)
1.5 oz. Bourbon
Garnish: 1 Cherry and/or lemon wedge (optional) Glass: Rocks
Add all the ingredients to a shaker and fill with ice.
Shake, and strain into a rocks glass filled with fresh ice.
Garnish with a cherry and/or lemon wedge if desired.


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