What we’re reading (1/21)
“How The Stock Market And Economy Performed Under Democratic Administrations” (Yahoo! Finance). “[A]ccording to historical data, stocks tend to do very well in the early goings of a Democratic presidency. In year one of a Democratic presidency, the S&P 500 has risen on average by 19.4% dating back to 1932, per data crunched by BMO Capital Markets chief markets strategist Brian Belski.”
“From Keystone XL To Paris Agreement, Joe Biden Signals A Shift Qway From Fossil Fuels” (CNN Business). “On his first day in the White House, Biden took a series of executive actions that put an exclamation point on his commitment to address climate change. Biden immediately moved to rejoin the Paris Agreement on climate change, revoke a permit that former President Donald Trump granted to the controversial Keystone XL pipeline and place a temporary moratorium on oil and gas leasing in the Arctic.”
“The Fed Under Biden: New Mandates, A Close White House Tie And Big Challenges Ahead” (CNBC). “There likely will be no nasty tweets in the middle of the night excoriating the Federal Reserve to lower interest rates. Nor will its officials be called “boneheads” should their actions not be in keeping with President Joe Biden’s wishes. But that doesn’t mean the U.S. central bank won’t face pressure as it looks to navigate its way through a new administration.”
“Why Are Apple Pay, Starbucks’ App, and Samsung Pay So Much More Successful Than Other Mobile Wallet Providers?” (Business Insider). “With [the] proliferation of options, one would expect to see a surge in adoption. But that's not the case — though Business Insider Intelligence projects that US in-store mobile payments volume will quintuple in the next five years, usage is consistently lagging below expectations, with estimates for 2019 falling far below what we expected just two years ago.”
“Royal Caribbean Won’t Go Down Without A Fight” (Dealbreaker). “There’s an old saying “the two happiest days in a boat owner’s life: the day you buy the boat, and the day you sell the boat.” The expression certainly applies here. In an effort to stay afloat during turbulent times, Royal Caribbean is jettisoning a full operating subsidiary - yesterday announcing a deal to sell the Azamara cruise line to private equity firm Sycamore Partners for just over $200 million[.]”
