1) Timothy Litzenburg, a Virginia lawyer involved in litigation over the health risks of Monsanto’s roundup weed killer product, has been arrested. He is charged with interstate intentions to extort an unnamed company into a $200 million dollar consulting fee for his firm. Litzenburg threatened to find people who he would advise to sue companies for exposing them to the chemical, but that he would cease searching for potential plaintiffs in exchange for a multi million dollar consulting agreement.
2) Freddie Mac has offered early retirement to about 25% of its staff in a drive to overhaul its workforce, as a result of the Trump administration’s reforming the housing finance giant. There are 1,650 eligible employees being offer the early out, with about one quarter expected to take the buyout. This will be about 6% of Freddie Mac’s workforce.
3) The number of Americans filing applications for unemployment benefits dropped from more than a two year high, decreasing 18,000 to 234,000. This points to a sustained labor market strength, another sign of a strong American economy. Despite trade tensions and slowing global growth with a weighing down on manufacturing, the economy is on a moderate growth path.
4) Stock market closings for – 19 DEC 19:
Dow 28,376.96 up at 137.68
Nasdaq 8,887.22 up at 59.48
S&P 500 3,205.37 up at 14.23
10 Year Yield: down at 1.91%
Oil: up at $61.03