Trump credits Carrier deal over Indiana jobs
President elect touts victory for factory workers as Carrier saves about 800 of 1,400 jobs at its Indianapolis plant. Officials say more than 1,000 jobs were saved overall, with incentives from Indiana and potential impacts from federal policy. Details remain unclear on retention terms and wage levels.
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California braces for marijuana tax pull as industry grows
California tax officials estimate the legal pot market could yield over 1 billion dollars in annual state and local revenue once regulated in 2018. The Board of Equalization begins planning staff and funding to monitor cultivation and sales amid uncertainties and thousands of growers, dispensaries, and outlets. Jerome Horton warns of a Wild West transition as Proposition 64 passes.
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Beige Book shows modest fall growth across districts
The Fed reports in the Beige Book that the U S economy grew at a modest rate this fall with gains in consumer spending offsetting export weakness. Seven of twelve districts see modest to moderate growth while three districts report slight growth and New York notes flat activity.
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Oil lifts some stocks as markets narrow losses
U.S. equities closed mixed as energy gains and bank strength could not offset broad declines. The S&P 500 slid to 2198.81 while the Nasdaq fell to 5323.68. the Dow edged up to 19123.58. Bond yields surged with the 10 year at 2.38 percent.
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