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HEAT SIPHON News - July 2019

Dow Jones Hits New ALL TIME RECORD

 

New TimerStat Pro Status LED Enlightens Owners / Serviceman

Latrobe, PA - July 4, 2019

The NEW Analog "C" Series Heat Siphon's began shipping last year with our new TimerStat Pro Controller that adds a sophisticated status LED light while keeping our economical original "Set It & Forget It!" single knob design.

The LED can display red green & orange to let you know the status of your Heat Siphon at a glance, including - POWER, NO FLOW, HEATING, HI/LOW Pressure Error, Reset Breaker Error & Call Factory for Servuce.

When flashing the LED signifies various conditions such as checking flow, restart delay, heating pool, SEE ABOVE - animation for demonstration.

The TimerStat Pro will mount in the same door as the digital Player Models.

This allows a direct replacement upgrade to Digital without any wiring or harness changes other than a simple jumper. Just remove the door unscrew the plug and replace it with a digital Player door assembly.

"This is a MAJOR improvement which required some changes to the software of the controller, and the minimal cost of adding an LED to the board. The NEW SMART USER FRIENDLY Timerstat Pro will not impact the price of our analog models" says Bill Bernardi, President.

Unemployment Rate Remains Near 50 Year Record Low

Washington DC - July 2019

As the Department of Labor Bureau of Satistics data shows in June unemployment remains well below the minimum reached during the previous administrations 8 year tenure and hovers just above the April and May 3.6% which is a 50 year low.

Better Days are On The Way!

July 11, 2019
DJIA Record

July 11, 2019

The stock market hit fresh records Thursday, with the Dow Jones Industrial Average notching a historic first close above 27,000 amid reinforced expectations of a rate cut and strong performance by health insurance stocks.

The Dow breached the 27,000 mark in early morning trading, maintaining a strong performance throughout the day to close at 27,088, up by 227 points.

The S&P 500, which hit a record intraday high of 3,000 Wednesday, closed at a fresh high of 2999.89 Thursday, up 0.23 percent. Shares in Cigna, United Health, and CVS all soared Thursday after President Donald Trump decided not to move forward with a plan to ban "backdoor rebates" for pharmacy benefit managers, which could have impacted the way insurers negotiate discounts on pharmaceuticals from manufacturers.

Interest Rates
to Go Lower

WSJ - July 12, 2019

Investors cheered the increasing certainty of the first rate cut in a decade, after Federal Reserve Chairman Jerome Powell spoke for a second day on Capitol Hill as part of his twice-yearly testimony on monetary policy.

“We’re learning that interest rates — that the neutral interest rate — is lower than we had thought," Powell said. "I think we’re learning that the natural rate of unemployment is lower than we thought.

So monetary policy hasn’t been as accommodative as we had thought.” His comments further cemented expectations for a cut in the central bank's benchmark interest rate, for which markets — and Trump — have been clamoring in recent weeks

Federal Reserve Chairman Jerome Powell completed two days of testimony on Capitol Hill this week.

Mr. Powell is ready to cut interest rates.

He largely downplayed positive news while highlighting worries about global growth and trade uncertainty, alongside soft inflation.

The model they don't want to follow: Japan.

Soft wage gains indicate to the Fed there's more room for the labor market to improve. Support for tighter money has evaporated.

The Fed’s potential rate cut received little pushback. “The bottom line is, the economy is in a very good place, and we want to use our tools to keep it there,” Mr. Powell said.

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