Congress hasn’t raised the federal minimum wage in 10 years. Democrats on Capitol Hill decided to mark the occasion by introducing a bill that probably won’t pass.
On Thursday, Congressional Democrats, with the support of Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi, introduced legislation that would raise the federal minimum wage from $7.25 to $15 an hour by 2024.
“If you work 40 hours a week or 50 hours a week, you should not be living in poverty,” Sen. Bernie Sanders, one of the bill’s sponsors, said at a press conference.
The bill isn’t likely to go anywhere in Congress. Republicans run the House, Senate and the White House, and no members of the GOP have given their endorsement. But the fact that Democratic leadership stands behind it is significant — and indicates the party could make it a priority ahead of midterm elections in 2018.
Two years ago, the $15 living wage campaign was a cause few in Washington wanted to own.
market share: Laredo Petroleum, Inc.(LPI)
- [By Ben Levisohn]
After a rally for the ages, the price of oil is back over $50. But the biggest threat to oil might be more production from exploration & production companies drilling in the U.S. shale, say Credit Suisse analyst Mark Lear and team, who cut their ratings on Carrizo Oil & Gas (CRZO), Laredo Petroleum (LPI) and Sanchez Energy (SN). They explain why:
market share: SPDR Wells Fargo Preferred Stock ETF (PSK)
- [By Todd Shriber, ETF Professor]
DWFI holds five other SSgA fixed income ETFs, including the SPDR Wells Fargo Preferred Stock ETF (NYSE: PSK). PSK is DWFI's largest holding at a weight of 25.2 percent. DWFI's second-largest holding is an allocation of almost 25 percent to the SPDR Nuveen Barclays Municipal Bond ETF (NYSE: TFI).
market share: PriceSmart, Inc.(PSMT)
- [By Monica Gerson]
PriceSmart, Inc. (NASDAQ: PSMT) is projected to post its quarterly earnings at $0.88 per share on revenue of $775.12 million.
Ruby Tuesday, Inc. (NYSE: RT) is expected to post its quarterly earnings at $0.05 per share on revenue of $284.14 million.
- [By Monica Gerson]
Wall Street expects PriceSmart, Inc. (NASDAQ: PSMT) to post its quarterly earnings at $0.88 per share on revenue of $775.12 million. PriceSmart shares rose 0.01 percent to $82.84 in after-hours trading.
- [By Demitrios Kalogeropoulos]
As for individual stocks, PriceSmart (NASDAQ:PSMT) and Ryerson (NYSE:RYI)attracted heavy investor interest in the wake of their quarterly earnings reports.
market share: TheStreet, Inc.(TST)
- [By Steven Goldberg]
Launched in August 2001, Action Alerts PLUS Portfolio has been a centerpiece of the financial advice offered by TheStreet.com. The website belongs to TheStreet, Inc. (TST), a publicly traded company that Cramer co-founded in 1996. PLUS Portfolio subscribers, who pay $15 a month, always get the recommendations before Cramer buys them for the portfolio, the Wharton paper reports. Likewise, subscribers get Cramers picks before he airs them on Mad Money.