On today’s edition of Rob Black’s Winners and Losers, our financial expert Rob Black and KRON4’s James Fletcher talk about purchasing stock in Intel.
There are no winners in the conversation today:
Loser: Trump blocks $117 billion Broadcom takeover of Qualcomm on national security grounds . . . . Trump said there was “credible evidence” that Broadcom “might take action that threatens to impair the national security of the United States.” Broadcom is incorporated in Singapore, and Qualcomm is based in San Diego. US presidents have rarely taken such measures, and the executive order highlights growing economic tensions between the US and the rest of the world as Trump pursues protectionist policies. And it underscores the country’s growing fears of cyberwar and espionage from foreign powers.
Loser: Real estate economist: Home prices are increasing twice as fast as income growth . . .The major constraint in the housing market is the lack of supply, MBA’s Mike Fratantoni says. That’s driving home prices higher and adding insult to injury for homebuyers with stagnated earning power. This appetite for housing comes even before the peak of the millennial generation reaches first-time homebuyer age. The stubborn lack of gain in average hourly earnings, seen in last week’s release of the latest government employment report, has been well documented. Wages in February grew at a less-than-expected 0.1 percent, representing a 2.6 percent advance on an annualized basis.
Loser: Here’s how much the average woman has saved for retirement . . . Hint: It’s not nearly enough. Even though women tend to save for retirement at higher rates than their male counterparts, they don’t necessarily land in the best shape by the time they bring their careers to a close. Research from George Washington University tells us that women are more financially fragile today than they were a generation ago, because of high levels of debt and low savings levels.Just how low are we talking? The median retirement savings balance among working women is just $34,000, according to data from Transamerica. And while that data doesn’t break down by age, it’s fair to say that plenty of women approaching retirement are looking at a nest egg that’s nowhere close to where it needs to be.
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