Giserman Group Biz Buzz:??Trump to Sign China Deal ??Stocks Hit Highs, Santa Rally is Here! ?? Shopping Record??Home Buyers Priced Out
Last StockTrading Day of the Year with the Dow, Nasdaq closing in on their best years in two decades. Now comes this Tweet from President Trump that could lift markets:
The S&P 500 could fare better than it has since 1997. The Nasdaq crossed the 9,000 mark for its first time this past week, boosted by shares of Amazon, which jumped on a record holiday-shopping season. Bricks-and-mortar re-tail-ers also posted gains. Macy’s up 42 cents, or 2.6%, to $16.54 a share. Nord-strom climbed 73 cents, or 1.8%, to $41.15 a share. Apple shares rose as well, on strong holiday sales, hitting their latest in a series of record highs as the iPhone maker remained on track for its best annual performance in a decade.
Late word that China will cut im-port tar-iffs start-ing January 1st should fuel further stock gains. Markets, all but ignoring impeachment and the huge divide between Democrats and Republicans, with the 2020 Presidential campaign in full swing.
Donald Trump becoming only the third President to be impeached.
As the House impeached the President on two counts, television showed this bizarre split-screen with Congress voting on one side, and the President rallying his faithful at the same time at a rally in Battle Creek, Michigan, on the other side. Just moments after the House impeached President Trump, Speaker Nancy Pelosi defiantly declined to say when — or even if — Democrats will deliver the articles of Impeachment to the Senate.
Still, Wall Street is taking it all in stride and continuing to buy.
The S&P is up over 29% for 2019. The Dow and Nasdaq are up over 20% and 30%, respectively, this year. >>Analysts: Lots here for you
- Giserman Group Translator: A Santa Claus Rally is Wall Street’s nickname for the unusually strong stock-market gains typically seen during the final five trading days of this year and beginning of next year.
No Homes for Sale
Lots of wannabe Home Buyers out there -- but no homes in their price range leading to slumping home sales!
New numbers show home buying slumped in November, with many Americans forced out of the market by sky-rocketing prices caused by the lowest home-for-sale inventory ever. The National Association of Realtors says sales of existing homes fell 1.7% as would-be buyers face the number of properties for sale dwindling 5.7% from a year ago to 1.64 million units. This in turn has driven up prices.
Meantime, homeowners are using their houses as ATMs again.... that's according to a new survey which finds people taking cash out of their home equity has nearly doubled this year over last.
Current Mortgage Rates (via Freddie Mac) 30-year fixed-rate mortgage averaged 3.73% 15-year averaged 3.19% 5-year adjustable-rate mortgage averaged 3.36%
Could we soon see negative mortgage rates like Europe? >Tim Rood, Managing Director, SitusAMC on CNBC via Giserman Group:
...Renting Is In
As more Americans find it harder to afford a home, rental demand is soaring. But, the supply of rental homes is shrinking, and that continues to push rent prices higher.
And, just over 12% of millennial renters plan to "always rent" — more than the 10.7% that said the same last year, according to an Apartment List survey.
Giserman Group Client Larry Heller, President Heller Wealth Management says Millennials are getting hooked on the "drug" of renting:
With the Holidays Here - Many of the usual 'Talking Heads' are taking time off - TV needs guests and it's a perfect time to GET YOU ON - Giserman Group Will Get YOU NOTICED. Contact us now!
Not a Bad Deal If You Can Swing It
Travis Kalanick is leaving the board of Uber, the ride-hailing giant he co-founded. . Kalanick’s move to leave the board comes after weeks of stock sales that have whittled down his exposure to the company’s shares. Kalanick has sold more than $2.5 billion of Uber stock in recent weeks, more than 90% of his stake.
Flu Widespread
The flu is widespread in 30 states and has claimed almost 2,000 deaths this season, including 19 children, according to the Centers of Disease Control and Prevention. Nearly every state reports elevated activity, the CDC said in its weekly update. The CDC estimated there have been at least 3.7 million flu cases so far this season, 32,000 requiring hospitalization. It reported 1,900 deaths, including 19 children.
Smoking Change
The Food and Drug Administration officially raised the age to buy tobacco from 18 to 21. The decision comes faster than some expected as the FDA had six months to amend their policies after Trump signed the bill and another 90 days to officially adopt the change. 19 states and the District of Columbia had already put in place laws to raise the minimum buying age for tobacco products — including cigarettes, cigars and e-cigarettes — to 21.
Caution Star Wars Fans: Pirates Out To Steal Credit Card Info
If you’re a Star Wars fan be careful. We know you’re likely eager to watch “Star Wars: The Rise of Skywalker.” But if you Google the film with the intent of pirating it, you may risk fraudsters stealing your credit card information. People searching for “Star Wars: The Rise of Skywalker watch free” may have compromised their credit card information, according to cybersecurity company Kaspersky. Kaspersky researchers found over 30 fraudulent websites and social media profiles disguised as official movie accounts that advertise free copies of the latest film in the Star Wars franchise. “These websites collect unwary users’ credit card data, under the pretense of necessary registration on the portal,” according to Kaspersky. Meantime, The Force was a little less strong with "Star Wars: The Rise of Skywalker." J.J. Abrams' Skywalker finale couldn't match its recent predecessors on opening weekend, but it still amassed a $175.5 million debut that ranked as the third largest weekend of the year.
Boeing Flys Higher as CEO Ousted
Boeing shares flying higher after CEO Dennis Muilenburg 'resigns'. It comes in the aftermath of the twin Boeing Max 737 crashes, which killed 346 people, laying bare a company culture in which safety concerns were discounted. The icing on the cake for Muilenburg: Boeing's Starliner, one of two new spacecraft to take astronauts from U.S. soil to the International Space Station, has returned to Earth safely after its somewhat shaky first Orbital Flight Test. The capsule had a 'timing glitch' preventing the spacecraft from reaching its planned orbit, denying a rendezvous with the Space Station.
Robots Coming for YOUR Job
The economy is besting expectations for job growth, and the unemployment rate is at its lowest in several decades — but the other side of the story is that millions of jobs out there just aren't good enough. By the end of 2025, more than 580,000 autonomous mobile robots (AMR) will be deployedto help warehouses fulfill customer orders. Many retailers are scrambling to adjust to the “Amazon Effect” and are exploring order fulfillment automation to try to increase the speed and flexibility of operations in order to compete with Amazon. This automation can significantly reduce order processing times. In addition, warehouses have struggled to find enough human laborers to keep up with demand, so automated systems are an attractive solution. half of all American workers are stuck in low-wage jobs that often don't pay enough to support their lives, lack benefits and sit squarely inside the automation bullseye.
Tesla Powers to Record
Tesla shares soar to a closing record for the second day in a row, the culmination of a late-year rally that started in October when the Silicon Valley car maker surprised investors by showing a profit for its third quarter. That brings Tesla’s 2019 gains to 18%, compared with advances of 27% and 21% for the S&P and the Dow.
Cyber Shopping Christmas
Holiday shopping set records with Super Saturday sales reaching $34.4 billion, the biggest single day in U.S. retail history, according to Customer Growth Partners. “Paced by the ‘Big Four’ mega-retailers -- Walmart, Amazon, Costco and Target -- Super Saturday was boosted by the best traffic our team has seen in years,” said Craig Johnson, president of the retail research firm.
But, make no mistake Malls are dying. Goldman Sachs downgrades Macy’s stock to “sell” from “neutral,” predicting “significant additional downside” to Macy’s retail operations. It all comes as activist investor Carl Icahn stands to make $400 million or more if mall owners can’t pay their debt. The bet comes as retail store closures have hit record highs this year.
Bye-Bye Global Internet
Russia has run a successful test of a country-wide alternative to the global internet, according to BBC News. While details of the test are vague, Russia's defense ministry of communications reportedly said that regular users did not notice any obvious changes to their internet access. The results of the test are expected to be sent to Russian President Vladimir Putin for review.
China's "Great Firewall" censorship program similarly limits content. The Washington Post reported last week that websites for The Washington Post and the Guardian are now reportedly blocked in the country as Beijing ramps up its efforts censor foreign websites.
Disney's Iger Time's BusinessPerson of Year
The massively successful launch of Disney+ and a record $10 billion in global box office sales helped make Disney CEO Bob Iger businessperson of the year, Time magazine says. “Iger’s tenure as the leader of the world’s most lucrative dream factory has been one long CEO highlight reel,” Belinda Luscombe wrote in her article for Time. “But 2019 was an apex year, when many of his carefully incubated eggs hatched.” Shares of the company are up 30% since January.
Cole in Yanks Holiday Stocking with Record Salary
The New York Yankees landed the biggest prize of the free agent market, reportedly signing pitcher Gerrit Cole to a record $324 million, nine-year contract. Cole’s deal topped the $245 million, seven-year contract Stephen Strasburg finalized a day earlier to remain with the World Series champion Washington Nationals.
PEP-si
Pepsi — with double the pep. PepsiCo is launching a new coffee-infused soda, with twice the caffeine content. “Cola has been a pretty stagnant category over the last 20 to 30 years,” says Todd Kaplan, vice president of marketing for Pepsi. “As consumer preferences continue to evolve, we at Pepsi need to evolve as well to better meet those needs.”
Beverly Hillbillies Home $old
??....Come and listen to my story about a man named Lachlan ... a not-so-poor media mogul who bought a house for $150 MILLION!!!
The L.A. estate best known for being featured on "The Beverly Hillbillies" -- is off the market, and the mansion's new owner is Rupert Murdoch's son, 48-year-old Lachlan. The real estate transaction is not only the most expensive in L.A. history but in the history of the entire state of California. And, get this ... it sold for $200 million LESS than the initial asking price.
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