Remington’s got problems
Remington Outdoor, one of America’s oldest gun makers, has filed for Chapter 11 bankruptcy protection. Why? Sales are off.
In business since 1816, it was a Remington rife that was used in 2012 Sandy Hook elementary school shooting. Since then, school and mass shootings haven’t stopped, fears of new gun regulations have increased all resulting in gun ownership losing a lot of its pow.
Chapter 11 doesn’t mean Remington is going bust. The move provides protection for a company and gives it time to reorganize its business and debt obligations.
Oh my…..last week’s stock prices grounded as three indices lost all of this year’s gains—one up 1.3%. Big woo!
What happened? Donald Trump’s trade war ideas.
Yale economist Robert Shiller, in an interview in Beijing on Saturday, called President Trump “ a showman” who “obviously relishes” in his celebrity, but behaves in a way that’s ”totally unbecoming for a president”, according to a CNBC.com report.
Addressing the China Development Forum, the Nobel-winner warned about the likelihood of an economic disaster if there is a trade war between the U.S. and China.
We shall see.
Below are the weekly and 1-year index performance results for four major indices— including the dates each reached new highs—according to CNBC.com based on prices at the close of business on Friday, March 23, 2018.
–DJIA -4.93% YTD down seriously from the previous week’s 0.92%
- 1 yr Rtn 13.93% down from the previous week’s 19.161%
Most recent DJIA all-time high was reached on January 26, 2018 of 26,616.71. The previous high was reached January 18, 2018 was 26,153.42.
-S&P 500 -3.95% YTD down seriously from last week’s 2.93%
- 1 yr Rtn 10.33 % down from last week’s 15.56%
The S&P 500 reached its most recent all-time high on January 26, 2018 of 2,872.87. The previous high was reached on January 19, 2018 of 2810.33.
-NASDAQ 1.29% YTD down seriously from last week’s 8.38%
- 1yr Rtn 20.20% down from last week’s 26.80%
Nasdaq reached a brand new all-time high on March 13, 2018 of 7,637.27. The previous high was reached on March 9, 2018 of 7,560.81.
-Russell 2000 -1.66% YTD down a hunk from last week’s 3.29%
- 1yr Rtn 11.57% down from last week’s 14.43%
The Russell 2000 reached an all-time high on January 24, of 1,615.52. The previous high was reached on January 16, 2018 of 1,604.02.
And there go this year’s gains.
At the close of business on Thursday, March 22, 2018 the average fund that falls under the broad U.S. Diversified Equity Funds heading had a year-to-date return of -0.11%. That’s down from last week’s average of 2.70%.
Large-Cap Growth Funds lost about 5% and averaged 3.67%—down from the previous week’s average year-to-date return of 8.19%.
Small-Cap Growth funds provided shareholders with the week’s highest average year-to-date return of 4.32%–down from the previous week’s averge return of 6.38%.
But Science & Technology Funds were higher at 7.72%. And Global
Science/Technology Funds lead the way with average returns in each category of 8.51% —off from its previous return of over 12%, year-to-date.
Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.
•How YOU doin?
Even with the stock market’s recent downward plunge, things aren’t as horrible as the tv talking heads might get you to believe.
For instance, Trump supporters rave about Donald and what a great job he is doing as president, how great the economy is and how their investments have preformed.
I’m not so sure about the greatness of our economy, but, there is no arguing with the performance of the stock market: On the day that Donald J. Trump was inaugurated, January 20, 2017—which seems like 100 thousand years ago—the Dow Jones Industrial Average closed at 19,827.25.
While the ride since then has been bumpy and lumpy, these numbers don’t lie.