DETROIT, Mich. — There's no better symbol of what the American worker's life used to look like than Detroit: A stable, lifelong career at a booming factory, a union membership and a pension.
The big picture: Workers' lives in the future won't look like that. Already, new technologies and the gig economy are breaking down those very forces of stability that defined jobs over the last century — and the future of workers hangs in the balance.
In an age of superstar cities, in which 25 bustling metros account for half the country's economy, some under-the-radar cities and rural areas are thriving.
Why it matters: Much of the country is in search of a playbook that can bring in even a fraction of the riches that have rained on the economic frontrunners.
Today's low-wage workers are concentrated in southern and western states and are often locked out of moving up economically because they can't afford to live in cities that offer better-paying jobs.
Why it matters: Low-wage and entry-level workers are more likely to be negatively affected by automation in the workforce and less equipped to weather an economic downturn, research suggests.
The Walt Disney Company said Wednesday that its new streaming service Disney+ had 10 million sign-ups since it launched Tuesday at midnight.
Why it matters: Disney wouldn't release the number if the company didn't think it represented a major milestone. Disney told investors in the spring that it hopes to reach 60 million to 90 million subscribers by 2024.
Hedge funds again lagged the returns of U.S. stocks as well as a combined fund of 50% global stocks and 50% global bonds in the third quarter and in October, according to data from eVestment.
Why it matters: Hedge funds aim to deliver consistent returns for investors that outperform during times of market stress, but despite increased uncertainty and geopolitical tensions in Q3, the industry saw negative returns on an overall basis.
The S&P 500's bull run over the past 128 months has been impressive, but it is also not well understood, analysts at LPL Financial note.
The intrigue: While the stock market's gains have continued longer than the previous record bull market that Americans witnessed through the 1990s, it has produced far fewer returns for stock investors.
Money managers are not just bullish about the stock market, they're euphoric about the current and future state of the global economy, data from the Bank of America Merrill Lynch shows.
What's happening: BAML's monthly survey of fund managers from around the world finds investors are all in on the stock market, with global optimism rising by the most in 20 years and expectations of real economic growth jumping by the most in the history of the survey.
Alibaba Group is moving forward with a secondary stock listing in Hong Kong that could raise more than $15 billion by the end of November, per multiple media reports.
Why it matters: This would rank as the ninth-largest equity float of all time, or tenth if Saudi Aramco somehow gets out first, with Alibaba's New York IPO currently in top position.
Media companies are looking to transition into the non-profit world for survival, as non-profits can accept donations while still selling advertising space, like AARP.
Driving the news: A small Quebec newspaper called The Gleaner, facing near collapse, was salvaged by a community that instead worked together to pivot the for-profit media company into a non-profit, Nieman Lab reports.
Food delivery company DoorDash says an outside firm, Beacon Economics, has completed a preliminary analysis of courier earnings under its new pay model, and found they're earning more — 12.5% more per work hour.
Yes, but: The company has only analyzed earnings for the last month under its previous pay model (August) and the first full month under its new model (October).
Known unknowns abound about the Saudi Aramco IPO expected this year on Saudi Arabia's' domestic exchange, including what the offer price will be and just how much of the company will be floated.
The big picture: Even still, the expected sale of just a tiny percentage of the company valued at well over a trillion dollars could be the biggest IPO in history.
Alibaba's Singles' Day delivered roughly $38.4 billion in sales Monday, 26% higher than the previous year's total.
The intrigue: The one-day Chinese festival, a corporate-created answer to Valentine's Day, recorded sales that were billions of dollars higher than the combined total expected from Thanksgiving, Black Friday and Cyber Monday shopping in the U.S., according to projections from Adobe Analytics.
The U.S. bond market was closed on Monday to commemorate Veterans Day, pausing a massive selloff in U.S. Treasuries that has taken yields on the benchmark 10-year Treasury note to their highest level since the start of August.
Why it matters: The Treasury market has provided a more accurate reflection of U.S. economic data so far this year, and rising yields show safe-haven bonds are losing their appeal.
The trade war is starting to hit home for more Americans, affecting their buying habits and expectations about the economy, data from research firm CivicScience shows.
Why it matters: Tariffs imposed on Chinese goods have largely avoided items purchased directly by consumers so far, but as the trade war has dragged on, more firms are having to pass costs on to customers. This could increase inflation or cause a pullback in consumer spending, which has been the driving force behind the U.S. economy's strength this year
AARP, formerly known as The American Association of Retired Persons, is one of the largest media companies in the country, bringing in more than $174 million annually in media-based advertising revenue, according to public filings.
"OK, millennials. But we're the people that actually have the money," Myrna Blyth, senior vice president and editorial director of AARP Media, said in an interview with Axios, referencing the popular "OK, boomer" tagline that youngsters are using to poke fun at older people online.
Disney+, the company's streaming service, officially launched Tuesday in the U.S., Canada, and The Netherlands.
Why it matters: The service will be the flagship product to define the career of Disney CEO Bob Iger. On an earnings call last week, Iger called the launch "one of our most ambitious initiatives to-date."
