1) The Canadian book retailing chain Indigo is expanding into the United States with its new model for brick and mortar bookstores at a time when online book selling is squeezing out traditional American bookstores. Indigo’s success is credited by selling signature gift items along with their books, such as beach mats, bento lunch boxes, herb growing kits, scented candles and crystal pillars.
2) The drug giant CVS Health is closing 46 of its stores as they become more involved in health care services. Nevertheless, CVS remains a solidly profitable business, but like so many other retailers, is worried about Amazon’s entry into the prescription drug business. Amazon has acquired the online drug retailer PillPack, which could serve as a bases for Amazon’s launch into the drug retailing business.
3) The millennials and generation-Z are not the only Americans facing massive college student loans to pay off. Senior citizens are struggling to pay off their student loans. More than three million people, who are over sixty, are still paying for college loans, owing more than $86 billion dollars.
4) 2 MAY 19 Stock market closings:
Dow 26,307.79 down 122.35
Nasdaq 8,036.77 down 12.87
S&P 500 2,917.52 down 6.21
10 Year Yield: up at 2.55%
Oil: down at $61.54