YouTube Launches YouTube Music, Because The World Needed Another Streaming Music Service


“That’s not who we are as Americans.” — President Barack Obama, on Donald Trump’s plans to deport every undocumented immigrant living in the U.S.


Rolls-Royce Drives European Markets Down

  • Investors have had quite a week so far, as all three major U.S. indexes are now down 2.5% for the week after another lousy trading session. Thursday’s across-the-board drop was a result of huge declines in oil prices as they come dangerously close to reaching their six-and-a-half year lows.
  • Europe felt the same pains after also being hit hard by oil prices. The market was briefly helped by ECB president Mario Draghi hinting at possibly providing more stimulus packages for a troubled European economy, but it was minor consolation.
  • If you’re looking for a bright spot, weekly jobless claims came in at a steady 276,000, remaining well below the key 300,000 threshold. But yesterday was really all about the Fed…

Fed Officials Give Two Cents

It was a big day for all things Federal Reserve as a plethora of officials spoke yesterday, giving their two cents on the big topic of interest: rate hikes (big surprise there). Here’s a quick rundown:

  • New York Fed Chief William Dudley: Open to a rate hike, pending economic reports in the coming weeks. His main concern? Inflation remaining below its 2% target.
  • St. Louis Fed Chief James Bullard: Get those rates up ASAP. His main concern? Current policy settings are too extreme.
  • Chicago Fed Chief Charles Evans: Let’s wait it out and not ruin a good thing here. His main concern? Below target inflation, and prematurely ending the economic recovery we’ve seen so far.
  • San Francisco Fed Chief John Williams: If the economy improves and there’s confidence that inflation will pick up, let’s get on with the hiking. His main concern? Overseas weakness, the strengthened dollar, weak exports and off-par inflation.
  • Fed Vice Chairman Stanley Fischer: 2015’s worries of low inflation, low energy and a strong dollar won’t be worries in 2016. His main concern? The dollar continuing to strengthen, causing continued weakness for exported goods.

Worries for Rolls-Royce

Brand name isn’t everything for English engine manufacturer Rolls-Royce after a recent earnings outlook revealed projected pre-tax profits way lower than expectations. Shares plummeted 19.6% on the London exchange in response, its biggest drop in 15 years. The transition to newer airplane engine designs has significantly increased the research and restructuring costs for Rolls-Royce, and a dip in demand for turbines used in electricity production hasn’t helped matters. These may seem like temporary issues, but the future will remain gloomy for Rolls-Royce until the company gets the flexibility needed to adapt to the changing preferences of buyers.

Retail Sells Out

The retail sector continues to struggle thanks to an unusually temperate autumn season. Both Kohl’s and Nordstrom released earnings yesterday, so let’s take a look:

  • Kohl’s profits fell by 15%, but the retailer still managed to beat analyst expectations for the quarter. The company is one of the lone bright spots in the sector right now, but that will be tested once the holiday season swings into full gear.
  • Nordstrom cut its sales projections by 1.5% for the upcoming year after announcing a subpar third quarter earnings report that saw revenues and same store sales slow significantly. The explanation was simple (less people shopped at Nordstrom than expected, across both retail and online channels), and investors were not happy: shares were down a whopping 21 percent after hours.
YouTube Joins the Band

Move over, Spotify and Pandora—here comes YouTube. Yesterday, the video service jumped on the music-streaming bandwagon with the launch of YouTube Music, an app that pulls from its enormous video catalog to stream audio to users. Like most streaming services, the app allows listeners to customize stations and curates playlists based on user preferences. To differentiate from rivals, YouTube Music integrates live recordings, remixes and other fan-created content into its streams, providing users with a more diversified listening experience. Will the unique approach pay off? Stay tuned.




  • Monday: DISH Network, Hertz, Priceline, Lions Gate Earnings
  • Tuesday: Import/Export Prices
  • Wednesday: Macy’s Earnings
  • Thursday: Cisco, Nordstrom, SABMiller, Viacom Earnings; Weekly Jobless Claims
  • Friday: Retail Sales; Producer Price Index; Consumer Sentiment; J.C. Penney Earnings


If you’re a young woman and you’ve found yourself moving back in with your parents, take heart: you’re not alone. In fact, 36.4% of young women are moving back in with their parents, the highest percentage since 1940. So what’s going on?

  • Reason one: young women are half as likely to be married now as in 1940. The median age for women to marry is now 27, up from 21.5 in 1940.
  • Reason two: while more women than ever are graduating from college, they’re also graduating with more student debt than ever, and entering the workforce with significant economic uncertainty and rising living costs. Put it all together, and many recent female college graduates simply can’t afford to live on their own, despite holding a shiny college degree.


A fast food restaurant sells chicken in orders of six, nine and 20. What is the largest number of pieces of chicken you cannot order from this restaurant? (Answer)



Qualified Trust — A tax-advantaged fiduciary relationship between an employer and an employee in the form of a stock bonus, pension or profit-sharing plan in which the underlying beneficiary may use his or her life expectancy to determine required minimum distribution amounts.


39 light years: MIT and Harvard researchers announced that they have detected a rocky planet orbiting a red dwarf star 39 light years away.

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