Investors focus on retailers as wages rise | Reuters

“In the recent U.S. jobs report for October, wages recorded their largest annual gain in 9-1/2 years. … A record 7.14 million open jobs are unfilled, and employers have been forced to boost wages to attract employees. … To be sure, the tax overhaul passed by Congress in late 2017 has helped companies offset a lot of extra expenses, and third-quarter S&P 500 profit growth is on track to be the highest since 2010. Lower tax rates should enable higher wages and maintainable margins without the need to raise prices, according to Russell Price, senior economist at Ameriprise Financial Services in Troy, Michigan.” Full story here.