The bottom line
▪Roughly 6 million people with credit scores lower than 620 are at least 90 days late on their last car payment, according to new data from the New York Federal Reserve. That’s the highest delinquency rate for subprime auto loans since the 2008 financial crisis.
▪Mexico is on the verge of overtaking Canada as the No. 2 exporter to the U.S. for the first time ever. Shipments from Mexico totaled $245 billion in the first 10 months of the year, ahead of Canada’s $230 billion. The two countries tied for second in exports to the U.S. in 2015, behind China.
▪The average annual salary for a first-year worker at a Silicon Valley technology firm is more than $105,000, plus a nearly $13,000 stock bonus and almost $26,000 cash bonus. The national average salary is $48,098, according to the Social Security Administration.
▪Google plans to rely entirely on renewable energy like wind and solar next year to run its global data centers. The company used enough electricity in 2015 to power the entire city of San Francisco for the year.
▪Just three stocks were responsible for nearly half of the Dow Jones industrial average’s 1,200-point rally over the past month: Goldman Sachs, UnitedHealth, and Caterpillar.
▪The top-earning 400 U.S. households reported 20 percent more income on their tax returns in 2014 than in 2013, according to the IRS. The 400 paid 2.13 percent of all individual income taxes that year, and required $126.8 million in gross income to make the list.
The Wall Street Journal