The price-earnings to growth ratio, which gauges whether a stock is properly valued, is at the highest reading since Bank of America tracking began in 1986. Anything above 1 indicates overvaluation, and the ratio is at 1.8, meaning "the S&P 500 is running on fumes," BofA strategist Savita Subramanian says.
Robert Jackson Jr. says he will leave Feb. 14 as a member of the Securities and Exchange Commission to return to teaching at New York University's law school. President Donald Trump is expected to nominate SEC lawyer Caroline Crenshaw to replace Jackson.
The World Economic Forum convenes next week in Davos, Switzerland, as political leaders face challenges on climate change, foreign policy and trade. Former Finnish Prime Minister Alexander Stubb, who plans to attend, says the gathering must address the "new world disorder."
Growth in e-commerce has fueled industrial activity in the Northeast, and Leslie Lanne of JLL notes that the region "and the New York City market will see continued activity in 2020 and coming years." State borders have become less of a consideration for space users, who are looking across the region as a whole for opportunities, Lanne says.
The retail environment is shifting, but "bricks and mortar continue to be a critical component of all retailers' and service providers' strategy," says Lisa Palmer, CEO of Regency Centers Corp. Regency is "well-positioned to take advantage of that," she says.
Americold Realty Trust has acquired a facility in Minnesota called Newport-St. Paul Cold Storage for $56 million. Americold, which has been expanding its footprint since going public about two years ago, has 176 temperature-controlled warehouses.
The Centre Square Commons shopping center in Blue Bell, Pa., has been sold to Medipower Overseas Co. of Cyprus for $40 million. The center, built in 2017, is anchored by Aldi and several other retailers including Jersey Mike's, Starbucks, Verizon and Zoe's Kitchen.
The redesigned concrete shopping mall Tehran Eye will feature a mix of retail space and offer a rooftop panoramic view of the Iran's capital city. The design divides the building into two parts with outdoor vertical open space and an indoor department store.
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