Stocks today were a tad higher on light trading volume. The NASDAQ hit a new high thanks to strength in tech shares led by Amazon. At the close the Dow was up 11 at 19,945.
China today put out the word that it was “not wedded” to its GDP target growth rate of 6.5%. President Xi Jinping hinted at the wiggle room at a meeting with the commie party finance and economic group citing the uncertain global environment following Donald Trump’s election and appointment of Peter Navarro as head of his trade council. China has experienced a buildup of financial debt in recent months and any trade disruptions with the US could hit the Sino economy hard should export related unemployment start to rise. Some economic ministers in China wanted to breathe a sigh of relief over the news but decided against it since the high levels of air pollution could make sighing in Beijing a regretable experience.
Japanese based Panasonic and California car maker Tesla announced today they plan to build out and produce roof shingle style solar cells at a factory in Buffalo, New York. The plant will employ 500 factory workers initially with eyes to grow as Tesla expands and transforms Solar City into a roofing contractor whereby the new roof is one big integrated solar panel. Hey doesn’t it snow in Buffalo? How well does a solar panel work with two feet of snow on it? Could Tesla become the next “Exxon” whereby they capture sunlight instead of drill for oil? Stay tuned! Maybe our future lies in a combination of these two forms for energy.