Daily Reads 1/8/2019
As the market continues it’s strong start to the year and households begin to plan their finances for 2019, below are a few top headlines to help keep you informed. (We even threw in a “bonus” sixth post!)
INVESTING & THE ECONOMY
Sears Holdings has rejected Chairman Eddie Lampert’s bid to save the 126-year-old company, setting the storied retailer with more than 50,000 employees on a path to liquidation, people familiar with the situation told CNBC on Tuesday. Sears, which also owns Kmart, planned to announce its liquidation plans Tuesday morning, the people said.
The number of positions waiting to be filled fell by 243,000 to 6.89 million, from a revised 7.13 million in the prior month, according to the Job Openings and Labor Turnover Survey or JOLTS, released by the Labor Department on Tuesday. The quits rate held at 2.3 percent, indicating confidence that job prospects remain strong.
Studies that seek to forecast stock price movements often consider measures of market sentiment or stock return momentum as predictors. Recent research shows that a multiplicative combination of sentiment and momentum can help predict the return on the Standard & Poor’s 500 stock index over the next month.
There have been growing concerns that tax refunds might be delayed as 800,000 federal workers are either furloughed or working without pay as President Donald Trump and Congress are mired in a standoff over funding for a southern border wall.
Fear often keeps people from creating a financial plan, but those who do plan are more confident and positive about their current and future finances than those who do not, according to a survey released by Citizens Bank Wealth Management.
Bankruptcy courts are quiet places these days, at least compared to previous years. Corporate and consumer bankruptcy filing rates are at their lowest point in about a decade, according to a new report from Supreme Court Chief Justice John Roberts.