In an ugly echo of the GE debacle from two weeks ago, MetLife stock tumbled as much as 10% after hours on Monday after the company announced it had uncovered a "material weakness" in internal control over financial reporting of its annuity business.
"There seems to be a very large consensus that markets have entered into a 'permanently high plateau'...this fairytale-like mindset has created an overwhelming sense of complacency... The next bear market will not be like the last, because it will be spread across the entire financial ecosystem.."
We highlight major spending announcements by S&P 500 companies since tax reform was passed, including one-time bonuses, base wage increases, hiring plans, capex, charitable contributions and more.
Following missed expectations at the Philly Fed, Richmond Fed, Empire Fed, and PMIs; The Dallas Fed manufacturing survey smashed expectations - soaring to 33.4, the highest since Nov 2005.
"We’re in a situation in Illinois where our pension debt is just crushing. When you have the largest pension debt in the world, you probably ought to be thinking big."
...the field seeing the the fastest growth between 2012 and 2015 is computer and mathematical occupations, which have grown by more than20% over the past four years.
"U.S. pension funds that rebalance monthly - which is most of them - will have to sell more than $12 billion of U.S. stocks in the coming days to return to prior asset allocation levels given recent rally in the stock market"
"Illinois has been losing population for four years... The state is shrinking so rapidly that it’s at risk of losing a House seat... is nothing to shrug off, because it indicates the state economy is on pace to continue its decline. And if nothing changes, people will just keep leaving."
Disney will pay over 125,000 employees a one-time cash bonus of $1,000, as well as make a new $50 million investment into education program for employees...
JP Morgan Chase & Co. is joining Apple, Bank of America, Wal-Mart, Comcast and a plethora of other US corporate behemoths in rewarding the Trump administration for its success on tax reform with the jobs and bonuses that it covets.
Today, hundreds of thousands of federal workers will wake up with the U.S. government still shut down. They will not be compiling, analyzing or checking any government data.
now that the US government is taking some time off for only the second time this century, here is a summary of what actually is shut down until the funding gap is closed, according to Bloomberg.
"If they voluntarily start giving up information about their employees or access to their employees in ways that contradict our new California laws, they subject themselves to actions by my office" -CA AG Xavier Becerra
According to the latest Beige Book report, most Fed districts cited on-going labor market tightness and challenges finding qualified workers across skills and sectors, which, in some instances, was described as constraining growth. And yet, few were raising wages in response...
