Markets are taking a breather (slight) following three days of gains and, interestingly, the S&P is close to the same level it is was exactly one month ago … even with all the “market moving events” (virus, Washington) grabbing headlines on a daily basis.
The weekly jobless claims number came in this morning … touting the lowest result seen in 52 years … as positions available jumped quite a bit, and openings in the private sector hit a new high. It is not only in that sector, but companies specializing in manufacturing are also on the hunt for new workers.
Of course, on-site manufacturing has its own issues, as BofA Global Research is reporting that 88% of respondents to their survey prefer to work from home (which is the highest number since they started collecting such data). On top of this, Equiem Global Office Report tells us greater than 60% of workers expect to continue to work remotely at least one day a week, while 74% presently are in situations classified as either home or hybrid. Oh, and by the way, Lyft will not require its own people to return to headquarters until 2023. Sorry … a lot of numbers today. I’m in that kind of mood.
Supply chain issues continue to be a bit of an issue, as Wabtec Port Optimizer claims container ships are waiting almost 21 days to enter the Port of Los Angeles.
When will the supply chain situation improve? Not before Christmas … as Oxford Economics concludes most experts expect issues to peak in the first quarter of next year … and problems not to end until very late 2022 (just in time for next year’s holiday season).
Some school districts in California finally figured out a way to improve student grades … as they eliminated giving out grades of “D” and “F.” I just wonder when they will replace diplomas with participation trophies.
It is small wonder, though, as things have certainly changed in the constant battle educators face … not with administrations (a given) but with technology … as the U.S. Department of Education reports that 13-year-olds who never read for fun is fast approaching 30%! Where is Mad Magazine when you need it?
On a final note for today, I included an incredibly interesting tale on the Metaverse … as couples are actually (but not legally) getting married in the virtual world. A fascinating story!
I figure that … since it is not binding … marrying an avatar of someone you meet online certainly is a mystery.
So … I guess marrying two people you meet online must be a bigamystery.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
As of 10:04 AM today …
Companies certainly want to hold on to their workers right now … and weekly jobless claims bear this out, being the lowest in over half a century. That’s a long time (CNBC)
… so you might have a bit of freedom in asking for a raise … but there are statements you can make to support your argument … and phrases to stay completely away from (CNBC)
Do you want to invite thousands of guests to your wedding? Well, try having your ceremony in the metaverse … keeping in mind that, for the moment at least, this isn’t binding (DNYUZ)
Did you ever send a text message and then realize it is either inaccurate, has a spelling error or was sent to the wrong person? You can delete it. Here is how (Distractify)
Some school districts in California just figured out a way to improve student scores. It is rather simple. Just eliminate the Fs … and Ds while you’re at it (WGNO)
This is downright scary. Tesla tells drivers they must be attentive at all times, even in self-driving mode. Now you find some games can be played while driving. Yikes! (Post-Gazette)
The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.