Listen: Tom Busby, Jan Johnson, San Francisco discussed on America in the Morning
"Tom Busby has business headlines and a glimpse into the market dive yesterday. Good morning. John stocks coming off a tumble on Tuesday. The Dow down three hundred points after a sharp drop in existing home sales in December. They hit a three year low a weakened forecast for global economic growth and uncertainty over trade talks between the US and China. A lot of mixed news on jobs FedEx now, offering voluntary buyouts to some workers. No word yet. If layoffs are next San Francisco based food delivery company montre suddenly closed down all operations putting hundreds of people out of work, but Waymo Google self driving car unit will open a plant this year near Detroit, creating four hundred new jobs to mass produce those self driving vehicles and Microsoft owned linked in expanding its operations in Omaha could more than double its workforce there to a thousand people for a limited time KFC is selling a gravy scented candle right now only in Britain, and it's every parent's worst. Nightmare hitting store. Shelves this week a sour patch kids breakfast cereal. Courtesy of post. All right. So interest rates are low, but housing numbers are still off. What's the story there? Well, it's a pretty weak ending to a difficult year in housing, and it's raising fears about an even worse year ahead with those sales falling to the lowest level in over three years. Despite loan rates actually dipping lower compared to the same month a year ago sales are down ten percent. So what gives more than anything else a lack of homes on the market and the ones that are for sale just cost way too much for many would be buyers home sellers unlikely to lower prices. The national association of realtors says the one thing that can really give the housing market. The boosted needs is lower mortgage rates. One more thing they also be affecting sales. The Trump administration's 2017 tax law changes which actually re joining a home by lowering the cap for deducting mortgage interest and limiting the amount of state and local taxes you can deduct right. Tom Busby of CNBC at twenty three. After researchers suggest the government should be investing in retraining, men and women who will be losing their jobs to technology. Correspondent Jan Johnson. Reports study by the World Economic Forum holding its annual meeting in Switzerland says one point four million mirror. Are likely to lose their jobs to robots and other automation. And businesses can only be expected to profitably retrain about a fourth of the sideline workforce that the researchers suggest put success in the hands of government retraining workers in similar scales. With a promise a better pay for them and a reimbursement for the government in higher tax revenues and lower unemployment costs. I'm Jan Johnson. It's now twenty four after when America in the morning continues zoo resorts to."