Yahoo Finance Stocks selling off after Trump nixes Trans-Pacific Partnership
Stocks (^DJI, ^GSPC, ^IXIC) are selling off at the midday mark after President Trump nixed the Trans-Pacific Partnership. The energy sector (XLE) is leading the way down, with telecom (IYZ) the most in the green. Keith Bliss of Cuttone and Company joins us live from the New York Stock Exchange.
To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance editor-in-chief Andy Serwer and Thomson Reuters correspondent Bobbi Rebell, author of “How to be a Financial Grownup.”
Trump suspends insurance cut for FHA-backed mortgages
Donald Trump’s presidency has officially begun, with one of his first acts in office: suspending a planned cut in mortgage insurance rates paid by some homebuyers with low credit scores. This essentially ended an attempt by the Obama administration to lower costs for borrowers whose mortgages are insured by the Federal Housing Administration.
Snapchat guidelines restrict pictures without editorial value
Snapchat is cleaning up what people see on its news service called “Discover.” Snapchat today unveiled new guidelines that explicitly restrict publishers from posting questionable pictures on Discover that don’t have news or editorial value. And it plans to roll out a tool that allows publishers to stop minors from seeing some content.
Automation’s effect on jobs and wages
Automation is a $16 trillion issue when it comes to jobs. That’s according to the latest research by McKinsey consulting. Most jobs—fewer than 5%—could be fully automated. But nearly half of all the activities that people do at their current jobs have the potential to be automated. And that’s where the $16 trillion number comes from. It’s the amount of wages that could be affected by the year 2055.
