What You Need To Know: November 17, 2016

Here’s what you need to know for today:

  • Janet Yellen said that, despite Trump’s victory, the economy is in good health and the Fed is likely to raise their rates next month. Here’s what that means.
  • Greek shipping company DryShips ($DRYS) gained over 2200% in value over the last several days before Nasdaq froze the stock and temporarily prevented people from trading further. We’ll talk more about what that means later.
  • Salesforce ($CRM), one-time potential buyer of Twitter ($TWTR), announces their earnings today. Will the sales talks have an impact on their business? Probably not, but it will be interesting if they discuss it during their investor call.

Here’s what we’re reading this morning:

Monet’s ‘Grainstack’ Sets Record With $81.4 Million at Auction” by Scott Reyburn and Robin Pogrebin, The New York Times
We recently talked about investing in art and how it’s not the best investment. Unless, of course, you’re buying a Monet.

Yellen Signals Fed Remains Likely to Raise Interest Rates Next Month” by Binyamin Appelbaum, The New York Times
More details on Janet Yellen’s announcement this morning.

Saving money isn’t the only thing you need to do to prepare for retirement” by Allison Schrager, Quartz
A brief look at the importance of financial literacy in the late stages of one’s life.