Stocks jumped around today before closing up 9 points to 24,884 on lighter trade. Positive North Korean news pushed markets up but then trade and tariff related news pushes markets lower. The markets are waiting to see how trade and tariff decisions will go down over the next couple of days. Its either that or March Madness.
Region banks look to benefit from a bill in congress called the Economic Growth, Regulatory Relief, and Consumer Protection Act which appears to have the 60 votes needed to avoid a filibuster. The bill would raise the asset threshold for a “systemically” important bank from $50 billion to $250 Billion. Banks have complained that once they go over the $50 billion mark the regulatory costs triple. There are currently 39 banks over the $50 billion mark and the bill would remove about 28 regional banks from the systemically important category thereby reducing their costs and reserve requirements. Big investment managers have been buying regional banks like KeyBank, Fifth Third and Regions Financial in anticipation of this event.
When I was a kid there was the TV show Flipper the dolphin and now we have Flippy the burger robot. A burger joint in California named Caliburger has introduced the first robot burger flipper. The machine is called “Flippy” and apparently is a work in progress because it cannot put salt or cheese on the patties yet. Hopefully it will not prove to be a “floppy”. Watch the video here on our Facebook page.