Daily Reads 1/3/2019
Hi there! We all know that thinking about our finances can be intimidating to say the least, but we at Sherman Wealth Management are here to help you improve your financial well-being. There’s so much information out there, so I wanted to share what I think are the most important reads of the day:
Weak iPhone demand forces Apple into rare sales warning from @RogerWCheng
This time, the economic downturn isn’t in the US. Cook blamed much of the shortfall on China, where the company underestimated a decelerating economy. The company saw a decline in sales of iPhones, Macs and iPads in the country. Cook cited macro factors like trade friction between the US and China, the world’s two biggest economies. “We believe the economic environment in China has been further impacted by rising trade tensions with the United States,” Cook said.
Firms in U.S. Hired Most Workers Since Early 2017, ADP Says from @ShoChandra
“Businesses continue to add aggressively to their payrolls despite the stock market slump and the trade war,” Mark Zandi, chief economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, said in a statement.
The median sales price of units sold in the borough fell nearly 6% from the same period last year to $999,000 from October to December, according to a report from listing broker Douglas Elliman Real Estate, the lowest since 2015. Though the rate of decline is steadying, the number of total sales fell for a fifth straight quarter.
Why Millennials View Finances Differently than Generations Before from @XYPlanning
Millennials will continue to feel the effects of the Great Recession until the end of their days. They’re getting married later (those student loans affect their partners too), delaying/choosing not to have children (kids are expensive), and hopping from job to job in hopes of finding one that will actually pay the bills.
The Rise After the Fall from @dollarsanddata
In addition to realizing their inner strength, post-traumatic growth can help individuals strengthen their relationships with loved ones and change their priorities toward the present. Few things have the power to bring people together and make them appreciate each moment as much as a trauma. While markets don’t have the same personal reactions to trauma as individuals, there is evidence that some of the strongest recoveries occur after the largest declines. Though this “market post-traumatic growth” won’t be true for all markets across all time periods (i.e. Japan, Greece, etc.), we see some indication of this in the U.S.