Verizon Communications Inc. (VZ) last week saw its shares tumble by 2.84% to maintain its position as the worst-performing stock among the 30 equities included in the Dow Jones Industrial Average. For the year to date, Verizon's shares are down 13.99%. The good news for investors is that Verizon's dividend yield is now 5.03%.
The Trump administration’s proposal to lower the corporate tax rate to 15% has revived hopes that big U.S. companies will soon be motivated to bring back massive overseas cash piles. U.S. companies had about $1.3 trillion in cash held in overseas accounts at the end of 2016, according to Moody’s Investors Service. Apple Inc.(AAPL)has the most cash overseas of any U.S. company at about $230 billion, according to Moody’s Investors Service.
US consumer debt is approaching a record 20% of GDP, and millennials owe most of it. Millennials — 21 to 34-year-olds — hold an estimated $1.1 trillion of the country's $3.6 trillion in consumer debt, according to UBS, as rising student and auto loans outweigh a drop in mortgages. There is already evidence that millennials are changing their spending habits on smaller items where, according to Lindsay Drucker Mann of Goldman Sachs Research, millennials are willing to search for the lowest price on an item or patiently wait for the right deal to pop up.