Labor

Investors are panic-buying Israeli generic drugmaker Teva Pharmaceutical after the new CEO announces restructuring plan that involves eliminating 25% of global workforce, suspending its dividend, and warns of "downward pressure on the top line."

As WSJ reports, Teva Pharmaceutical is cutting more than 25% of its workforce, suspending its dividend, and closing factories and research facilities world-wide as it works to cut costs and pay down debt.

There is a huge disparity in employment rates among over 65s across different countries...

You will find more statistics at Statista

As Statista's Niall McCarthy notes, a recent OECD report found that the highest rates of people working beyond 65 are in Asia with Indonesia particularly notable as having a 50.6 percent employment among those in the 65-69 age group. That figure is high elsewhere in Asia, standing at 45 percent in South Korea and 42.8 percent in Japan.

The NFIB Small Business Optimism survey hit this morning and it surged to near record highs...

With Small Businesses having never been so excited to hire people ever...

Construction, manufacturing and professional services registered notable increases in planned hiring. The figures indicate the recent solid pace of job growth will be sustained and help extend the economic expansion.

And, of course, President Trump was over the moon...

After a burst of record high job openings which started in June and eased modestly in August, today's October JOLTS report  - Janet Yellen's favorite labor market indicator - showed a sharp drop in job openings across most categories now that hurricane distortions have cleared out of the system, with the total number dropping from 6.177MM to 5.996MM, well below the 6.135MM estimate, the biggest monthly drop and the lowest job openings number since May, resulting in an October job opening rate of 3.9% vs 4% in Sept.

Casual dining investors, despite the retail route, have become increasingly optimistic over the past month and a half with several of the largest names in the industry rallying 15-20% into the holiday season.