On Wednesday, Shares of JPMorgan Chase & Co. (NYSE:JPM), lost -2.52% to $60.00. The stock attained the volume of 28.98 million shares.
J.P. Morgan Asset Management released new research that evaluates and compares the saving and investment experiences of baby boomers with those of today’s younger generations, and derives potential implications for asset markets as boomers enter retirement en masse. The Investment Insights paper, “The long and short of baby boomer balance sheets,” is written by Ben Mandel, Global Strategist, Multi-Asset Solutions, J.P. Morgan Asset Management, and Livia Wu, Quantitative Research Analyst, Multi-Asset Solutions, J.P. Morgan Asset Management.
The paper examines issues including how baby boomers’ balance sheets got where they are today; which assets account for the dramatic growth in baby boomer wealth; and what it will take for subsequent generations to reach retirement with a comparable level of wealth. Key findings include:
- Baby boomers, benefiting from a long period of economic growth and stability during the bulk of their peak earning years, have quadrupled their aggregate net worth since the late 1980s. Nonfinancial assets, specifically residential property, played an important role in that wealth accumulation, accounting for two-thirds of median household assets in 2013.
- The next generation has not fared as well. For example, median household net worth for young to middle-aged members of Generation X has declined significantly relative to that for households of a similar age 25 years ago. Given lower current income growth and expected asset returns, the implied savings rate necessary for younger households to match the breadth of baby boomer balance sheets is incredibly large. These younger generations will need to modify saving and investment behaviors and adjust their wealth expectations accordingly.
- Baby boomers will also face trade-offs. Financial assets alone will not support their current levels of consumption expenditure in retirement. The sale of residential real estate is a likely outcome for many households, representing, in our view, an inexorable long-term headwind for the U.S. housing market.
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
At the end of Wednesday’s trade, Shares of CASI Pharmaceuticals Inc (NASDAQ:CASI), inclined 40.20% to $1.43.
CASI Pharmaceuticals, Inc. (CASI), a biopharmaceutical company dedicated to innovative therapeutics addressing cancer and other unmet medical needs, declares that its oncology drug candidate, ENMD-2076, has received Orphan Drug designation from the European Medicines Agency (EMA) for the treatment of hepatocellular carcinoma (HCC), counting fibrolamellar carcinoma (FLC), a rare type of HCC.
The designation provides CASI with 10 years of market exclusivity in EU after ENMD-2076 receives marketing authorization there. The product was also granted Orphan Drug designation for the treatment of HCC by US Food and Drug Administration (FDA) in 2014, which provides CASI with a 7-year market exclusivity in the country after its New Drug Application approval.
CASI Pharmaceuticals, Inc., a biopharmaceutical company, acquires, develops, and commercializes therapeutics addressing cancer and other unmet medical needs in North America and China.
Finally, Shares of Activision Blizzard, Inc. (NASDAQ:ATVI), ended its last trade with 0.43% gain, and closed at $33.02.
Activision Blizzard, Inc. (ATVI) declared that it will host the Company’s Investor Day on November 6, 2015 at Blizzard Entertainment’s BlizzCon® event, at the Anaheim Convention Center in Anaheim, CA, from 8:30 AM to 10:30 AM PT, followed by the BlizzCon opening ceremony which starts at 11:00 AM PT. Chief Executive Officer Bobby Kotick and members of Activision Blizzard’s senior administration team will provide an in-depth review of Activision Blizzard’s business, current and future initiatives and long-term opportunities.
Activision Blizzard, Inc. develops and publishes online, personal computer (PC), video game console, handheld, mobile, and tablet games worldwide. The company develops and publishes interactive entertainment software products through retail channels or digital downloads; and downloadable content to a range of gamers.
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