Subject: Eight Cheap Cars the Richest Americans Drive
The wealthiest Americans are cheapskates, as least as far as their tastes in automobiles goes. Perhaps that is why some rich Americans stay rich. 24/7 Wall St. asked auto trends research firm Truecar to find the best-selling cars and light trucks that America’s rich drive. Truecar analyzed industry sales data from the 10 wealthiest U.S. ZIP codes by median income, according to the Internal Revenue Service, including neighborhoods in New York City, Greenwich, Conn., and the gated community of Fishers Island, Fla. Based on the 20 top-selling cars from Truecar’s report, 24/7 Wall St. identified the eight cheap cars the richest Americans drive.
As always, here are the top major media headline summaries from WSJ, FT and more. Today’s top analyst upgrades and downgrades were in shares of NLY, MT, CAP, CRAI, HOS, MPC, MELI, MTG, NOK, JWN, OPEN, PH, SKS, SXL, TDC, WFM, INT and ZIP. The most important financial news affecting the markets today.
Dividend (distribution) investors need to be on the lookout for another round of secondary offerings from MLPs after an MLP fund filed to sell more shares. This dilutes holders, and the funds prior share sales have preceded waves of secondary offerings from the MLP sector.
The headline jobs data was good for the markets, but now this takes pressure off of Ben Bernanke to do more creative easing and mandatory QE3.
The market may have stalled, but the latest data of inflows and outflows from ETFs showed that investors shunned havens and took on more risk.
More weakness in tech … Semiconductor Industry Association shows big declines in Europe and in the Americas.
Romney aides say his programs can add 12 million jobs in four years. That depends on whether Americans will spend money or save and pay down debt.
JAL’s IPO will raise $8.5 billion. It recovered using an old U.S. airline trick. It went bankrupt.
Toyota Motor (NYSE: TM) posted strong earnings and a robust forecast after General Motors (NYSE: GM) and Ford Motor (NYSE: F) released poor numbers. Toyota has several advantages. It has begun to gain back U.S. market share lost because of the earthquake, and it does not have large exposure in Europe.
The International Monetary Fund looks ahead and does not like what it sees.
Have a great day!
JON C. OGG
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