??Stocks Catch Cold on Coronavirus ??Why Millennials Can't Get a Mortgage ??Dems’ Debate Fireworks ??Help Wanted!-It's the Election, Stupid
Stocks falling again, giving back some of the gains that led two of the three major indexes to record highs. The Dow down, S&P 500 sliding and the Nasdaq dropping.
Apple turned lower again after cutting its sales expectations due to the virus. It comes as Chinese authorities on Friday reported hundreds of new coronavirus infections at prisons around the country, a dire revelation that undercut the government’s effort to show progress in containing the deadly epidemic.
The outbreak is expected to cost the world’s airlines a combined $29.3 billion in revenue. The International Air Transport Association said air travel demand is set to decline for the first time since 2009.
A handful of Chinese prisons reported nearly 500 new cases, a significant portion of the more than 1,100 new cases reported in mainland China on Friday — and a marked increase after several days of declines.
Debate Fireworks
Nearly 20 million viewers tuned into Wednesday's Democratic primary debate hosted by NBC in Las Vegas, making it the most-watched Democratic primary debate of all time
From the opening bell, Democrats unleashed an aggressive push on billionaire Mike Bloomberg and raised new questions about Bernie Sanders’ take-no-prisoners politics in a contentious debate that threatened to scramble even further the party’s urgent quest to defeat President Donald Trump.
The former New York City mayor was forced to defend his divisive record on race, gender and Wall Street in his debate-stage debut, while Sanders, appearing in his ninth of the 2020 primary season, tried to beat back pointed questions about his healthand his embrace of democratic socialism.
Fierce exchanges throughout the two-hour affair marked the most aggressive sustained period of infighting in the Democrats’ yearlong search for a presidential nominee, reflecting rising urgency in a 2020 primary season that is already deep into its voting phase. Nevada votes Saturday. South Carolina the week after. And more than a dozen states host a series of Super Tuesday contests in less than two weeks.
In a fight for her political life, Massachusetts Sen. Elizabeth Warren was a leading aggressor against Bloomberg. She was on the attack throughout the night following a sharp slide in the polls, calling Bloomberg “a billionaire who calls people fat broads and horse-faced lesbians.”
Mortgages At 3Yr Low - Why Millennials Can't Get Them
There's a silver lining of sorts to the coronavirus scourge -- mortgage rates falling to their lowest level in 3-years.
Mortgage Rates (Freddie Mac) 30 Year Fixed 3.45% 15 Year Fixed 2.97% 5 Year ARM 3.32%
So why can't Millennials and First-Time Home Buyers get Mortgages?
>SitusAMC Managing Director Tim Rood Via Giserman Group on Fox Business Network with what it all means:
Tim will be on Yahoo Finance TODAY, 2pm ET.
2020 Retirement Changes
Give until it hurts to your retirement plan! A number of new provisions may make it easier to do so, but as always there will be a cost to some...
>The Good, Bad & Ugly from Giserman Group Client Larry Heller, President Heller Wealth management on Long Island Newsradio:
Adoption Law Change
New Yorkers who were adopted can now learn identities of their birth parents under a new law, already in place in 10 other states.
>Giserman Group worked to get Client Attorney Joseph Milizio on CBS2, News12, WCBS880 and NBC4 New York:
Giserman Group Will Get YOU NOTICED Too
?Contact us NOW!
Stocks Down on Coronavirus Fears
ases of coronavirus and 2,004 cumulative deaths. Stores across the U.S. are selling out of face masks, as health-care workers risk infection if they cannot get the protective gear.
All Bullshit
It was “All Bullshit" President Trump said on national TV as he reveled in his impeachment acquittal.
The President taking a scorched-earth victory lap live on most TV Networks, unleashing his fury against those who tried to remove him from office and pointing ahead to his reelection campaign.
Speaker Nancy Pelosi ripped up her copy of Trump's prepared remarks at the conclusion of his State of the Union address as most lawmakers stood to applaud. Pelosi stood, took the printed copy of Trump's speech and tore it in half. She placed the shredded copy in a stack on the dais as Trump made his way to greet members of Congress. Asked afterward why she tore the speech up, Pelosi told reporters it was "the courteous thing to do given the alternative."
Judge Donald
President Trump, calling himself the chief law enforcement officer of the country, went on a clemency spree Tuesday, commuting former Illinois Gov. Rod Blagojevich’s 14-year prison sentence and pardoning former New York City police commissioner Bernie Kerik, among a long list of others. Those who got a break from Trump include financier Michael Milken, the “junk bond king” who served two years in prison in the early 1990s after pleading guilty to violating U.S. securities laws, and Edward DeBartolo Jr., the former San Francisco 49ers owner convicted in a gambling fraud scandal after building one of the most successful NFL teams in history. But Trump also commuted the sentences of several women with more sympathetic cases to balance out the men convicted of corruption. In all, Trump took clemency actions related to 11 people, his latest interventions in the justice system as he faces growing criticism for weighing in on the cases of former aides. Trump made clear that he saw similarities between efforts to investigate his own conduct and those that took down Blagojevich, a Democrat who appeared on Trump’s reality TV show, “Celebrity Apprentice.”
Huge Mall Deal Despite Retail Apocalypse
Simon Property Group, the second largest owner of shopping malls is buying Taubman Centers, the largest mall operator for $3.6 billion. Simon shares are down 23% in the last 12 months, while the S&P 500 has gained 23%.
It comes as the retail apocalypse rages on. Walmart stock down big time as earnings and revenue for the just released holiday quarter missed analysts’ estimates. The retailer cited softness in toys and apparel during December. Its profit outlook for the upcoming year came up short of expectations. Walmart said it is still monitoring the deadly coronavirus outbreak and said, so far, it hasn’t impacted its financial forecast.
Pier 1, the funky furniture retailer that later grew into a home-furnishings giant with more than 1,000 stores, has become the latest to file for bankruptcy, a victim of changing consumer tastes and an unforgiving retail environment.
Macy’s plans to close 125 department stores over the next three years, an admission that a fifth of its locations cannot thrive as shoppers buy more online and make fewer trips to malls. The company is also cutting roughly 2,000 corporate jobs, or 10% of corporate and support staff, and closing several offices.
HSBC has announced a major restructuring of its business, including plans to cut 35,000 jobs over the next three years. In the U.S. it will reduce bank branches by 30%. The impact won't initially be felt as heavily in Asia, where HSBC derives 90% of its profits,
And so it goes. >Analysts lots here for you!
Help Wanted
The gap between open jobs and unemployed workers is about as wide as the one between the kinds of available positions and the qualifications that the workforce collectively has to fill them.
A recent survey from the Manpower Group, a job placement firm finds nearly 7-in-10 employers reported talent shortages in 2019, the worst level ever and a jump of 17 percentage points from just a year ago. It’s also more than three times higher than a decade ago.
This as the economy added a strong 225,000 jobs in January, showcasing the continued resiliency of the labor market as it far outpaced economists' expectations of 161,000 jobs added. It also added to Donald Trump's chances of a 2020 election win, as Bill Clinton was fond of saying "It's all about the economy stupid."
>ANALYSTS LOTS HERE FOR YOU
Giserman Group Will Get YOU NOTICED Too
?Contact us NOW!
Sex Abuse Claims Force Scouts Into Chapter 11
The Boy Scouts of America has filed for Chapter 11 bankruptcy protection in an effort to keep operating while thousands of claims of sexual abuse by former members against the national youth group are litigated. Through the bankruptcy filing, the organization will likely have to pay victims, but will also avoid lengthy and damaging jury trials in a number of states.
Uber Drives Higher
Uber stock driving higher after the company announced a fourth-quarter loss that was narrower than analysts had expected and moved its profitability forecast forward. The company’s shares spiked as much as 10% after hours when CEO Dara Khosrowshahi said the company was moving its profitability target to the end of this year, ahead of its original promise of profitability in 2021.
Twitter Flying
Twitter flying higher after its biggest quarterly user growth ever. The social media company reports fourth-quarter earnings that beat revenue and active user expectations but fell short on profit. Twitter said it experienced the fastest quarterly growth (up 21%).
Madoff Asks for Early Release
Bernie Madoff says he is dying from kidney disease and is seeking an early release from prison on compassionate grounds. A lawyer for the convicted ponzi-schemer, in a new legal filing says Madoff has “less than 18 months to live.” Madoff currently is serving a 150-year prison sentence in a North Carolina federal facility for swindling thousands of investors out of billions of dollars.
Tesla Doing the Electric Slide
Tesla shares stabilizing after falling for the first time in six trading days as Wall Street moves to lock in profit after the stock came close to $1,000. Tesla fell nearly 18%, poised to notch its worst percentage decline since 2012.
Amazon Delivers
Amazon shares delivering after smashing earnings expectations. The company’s market cap surged above $1 trillion on the back of the powerhouse earnings report. In doing so, it joins Apple, Alphabet and Microsoft, which have all crossed the trillion-dollar threshold. Profit rose 8% to $3.3 billion during the all-important holiday quarter.
Parasite Wins, But Few Watch Oscars
The 2020 Oscars ceremony was watched by the smallest audience the awards show has ever received. 23.6 million viewers tuned .That’s a 20%, 6 million viewer drop-off from last year.
For the first time a foreign language film takes the top award at the Oscars, the South Korean thriller “Parasite” won best picture — the first foreign-language film to do so — and collected three other trophies, including one for Bong Joon Ho’s directing.
CBS Defends Gayle King
The CBS News chief called threats against Gayle King “reprehensible” as backlash grew against rapper Snoop Dogg and others critical of King for an interview where she asked about a sexual assault charge against the late Kobe Bryant. Snoop Dogg had threatened King online this week following her interview with WNBA player Lisa Leslie about Bryant, the former Los Angeles Lakers star killed in a helicopter crash on Jan. 26. “We fully support Gayle King and her integrity as a journalist,” CBS News President Susan Zirinsky, told the Associated Press. “We find the threats against her or any journalist doing their job reprehensible.”
Kirk Douglas Dead
Legendary actor Kirk Douglas has died at age 103. He liked to refer to himself as “the ragman’s son,” but to most people the cleft-chinned Douglas was the epitome of an old-fashioned movie star. The chiseled-featured actor with the winning smile left a legacy of dignity, grace and talent in the wake of his death. His work ranged from westerns to epic dramas to romances, but he once said his proudest professional achievement was helping to end the Hollywood blacklist
DAYBOOK
FRIDAY, FEB. 21 10 am Existing home sales Jan.
Giserman Group Will Get YOU NOTICED.
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