The markets made another modest increase today on lighter than average trading volume. The Dow closed at 21,998 for a gain of 5 points on the day.
Yesterday, Apple met with health insurer, Aetna, and discussed a plan to possibly provide Apple Watches to Aetna customers for a discount, or potentially even free. Apple already provides the 50,000 Aetna employees with the Apple Watch as part of their corporate wellness program. It’s possible that Aetna may provide this benefit to their insured next year.
It appears that there will be more big name corporate bonds issued. It is being reported that Amazon could be issuing as much as $16B worth of bonds, in seven different offerings, in order to finance the purchase of Whole Foods. The longest portion of the offering is anticipated to be for 40 years and projects to yield roughly 1.65% above Treasury rates. Another tech company looking to raise capital is Rovio, the maker of the game “Angry Birds”. They are looking to raise $2B in an IPO to help finance future projects.
Right at the close of the market, President Trump spoke about the executive order he signed, which is designed to reform the permitting process used for infrastructure projects. The order intends streamline a process that can currently take 5 to 15 years just to get a project started, down to 2 years. The three things that businesses have really been hoping for with this presidency are fewer regulations, a reformed tax plan, and improved infrastructure – potentially this could check one item off their wish list.
Day 6 of “Wild Bill” at Philmont: Good news, Bill’s cell phone has not been used to start a fire, or to distract any wild animals. He was able to get reception today and reported that everything is good, and they’re having a fun time! Today they hit the half-way mark of the 50 mile hike.