The Transcript 10.21.19

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Succinct Summary:  Q3 earnings season kicked off in earnest this past week with several banks reporting. Most companies noted that the US consumer is doing very well. Consequently, the US economy has a solid grounding, despite the slowed down global growth. The surprise move to zero brokerage commissions was unexpected by some. The impact has been accelerated flows into ETFs and brokers adjusting to the reduced revenues by trying to cut costs to maintain margins.

The Transcript 10.14.19

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Succinct Summary:  The construction and manufacturing sectors continue to feel the heat of weakening global growth. Some of the tariff increases are making their way to consumers and the heightened global uncertainty is making retailers nervous and customers cautious.