Under an Obama administration, income taxes look set to rise for the wealthiest households. So that's a bad sign for the market, right? Not necessarily, according to Deutsche Bank Private Wealth Management.
Under an Obama administration, income taxes look set to rise for the wealthiest households. So that’s a bad sign for the market, right?
Not necessarily, according to Deutsche Bank Private Wealth Management. In three of the four years after income-tax increases of at least 10 percent, the Standard & Poor’s 500 index has risen. The only time it fell was in the midst of the Great Depression, according to chief investment officer Benjamin Pace and chief investment strategist Larry Adam.
Shares per gallon
Since mid-October, Ford stock has cost less than a gallon of regular gasoline. As of Friday, a share of Ford sold for $1.80 while a gallon of gasoline cost an average of $2.15 nationwide, according to AAA and the Oil Price Information Service. A GM share, meanwhile, costs nearly as much as a gallon of diesel, which averages $3.04 per gallon.
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Game of chicken
Tyson Foods is playing what’s essentially a game of chicken with other producers, analysts say.
The chicken industry is hurting as feed costs are high, and demand is weakening. The natural response, analysts say, is for companies to cut production.
Tyson, though, has been standing firm. Why? “Because they felt like they were the ones who cut production in previous quarters — now it was time for others to feel the pain,” says D.A. Davidson analyst Tim Ramey.
During a conference call Monday, analysts peppered Tyson executives with questions about whether it would cut production. Chief Executive Richard Bond ended the call saying, “It’s evident that on the chicken side, you all think we should be cutting production. I will tell you, we will continue to monitor that, but I still believe that the improvements that we’ve put in place and what we are doing to match demand with supply is the right thing for Tyson Foods.”
The Associated Press