Up & Down Wall Street

The column talks about the growth of part-time jobs, especially at the expense of those who want to work full-time. The June survey shows that about 23% of those who got part-time jobs would rather work full-time.

New claims for unemployment had a big decline to 284,000, lowest number since the last recession began. Unemployment rate is at 6.1% but wage growth is only 2.3% year over year.

STREETWISE

ESRX looks good now. Trades at13x,  10–year median is 17.4. Retention rate is predicted to be about 94% due to account managers that have left from the Medco purchase, but bears think it can be much lower. Earnings expected to grow 14% in 2015.

REVIEW

Money funds that serve institutional investors cannot stick to the $1 per share value and prices must reflect market values. Funds can also temporarily block withdrawals during market emergencies. S&P was about flat and the Dow was down 0.82% on the week. New home sales fell 8.1% in June.