Business News

Oil makes for a Slippery Slope

This week we head into an expected Fed interest rate hike, first time in nine years.  U.S. stocks turned negative this morning after being up strong early. (CNBC)
 
Consumer confidence climbed in December to the highest level in four months. The University of Michigan’s index of sentiment rose to 91.8 The gauge has averaged 92.9 this year, the best since 2004. All of the increase in confidence  was attributed to households at the bottom two-thirds of the income ladder. (Bloomberg)
 
Household net worth is now 25% above pre-Great Recession peak. At the end of Q3 the value of households' assets exceeded liabilities by $85 trillion. That's a $2 trillion increase from Q3 2014. Just prior to the Great Recession, household net worth stood at $68 trillion, and was as low as $55 trillion. (LPL Research)
 
Newell Rubbermaid, the maker of Sharpie markers, is  buying Jarden, maker of Sunbeam appliances and Coleman products. The company will have combined sales of $16 billion. (Reuters)
 

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