The Washington Post - 02.11.2019

A16 EZ RE THE WASHINGTON POST.SATURDAY, NOVEMBER 2 , 2019

THE MARKETS

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EExchange-Traded
(Ticker) 5D % Chg$$718 $
Coffee (COFF.L) 3.
Copper (COPA.L) -1.
Corn (CORN.L) -0.
Cotton (COTN.L) -1.
Crude Oil (CRUD.L) -2.
Gasoline (UGAS.L) -0.
Gold (BULL.L) 0.
Natural Gas (NGAS.L) 6.
Silver (SLVR.L) -0.

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New Car Loan Natl

4 4.

CCurrency Exchange

Close

8,386.

2-yr note

Yield:

1.55%

Markets YTD % Chg

Americas Close

Weekly

% Chg-23.2% +23.2%

BRAZIL IBOVESPA INDEX 108195.60 0.

S&P/TSX COMPOSITE INDEX 16594.07 1.

S&P/BMV IPC 43814.55 1.

S&P 500 Industry Group Snapshot

Industry Group

Weekly

% Chg

-44.5% Chg % 1Yr +44.5%

Distributors 5 5.

Industrial Conglomerates 5 5.

Auto Components 4 4.

Biotechnology 4 4.

Real Estate Mgmt & Dev 4 4.

Construction Materials --2.

Textiles & Apparel --1.

Multiline Retail --1.

Personal Products --1.

Energy Equipment & Svcs --1.

$1000 invested over 1 Month

Bloomberg

ND J FMA M J J A S ON

21,

24,

27,

'

LIBOR 3-Month

1.90%

5D % Change

1.4%

Bank Prime

4.75%

EU €

0.

Money Market Natl

0.

ND J FMA M J J A S ON

6,

7,

8,

'



$1000 invested over 1 Year

Asia Pacific -31.3% +31.3%

S&P/ASX 200 INDEX 6669.10 -1.

CSI 300 INDEX 3952.39 1.

HANG SENG INDEX 27100.76 1.

NIKKEI 225 22850.77 0.

    



    







10-yr note

Yield:

1.71%

Japan ¥

108.

'

1Yr CD Natl

1.

5D % Change

1.7%

1-Yr ARM

3.55%









Note: Bank prime is from 10 major banks. Federal Funds rate is the market

rate, which can vary from the federal target rate. LIBOR is the London

Interbank Offered Rate. Consumer rates are from Bankrate. All figures as of

4:30 p.m. New York time.

Close

3,066.

Britain £

0.

Consumer Rates

  

    

30-Yr Fixed mtge

3.75%

5-yr note

Yield:

1.54%

5Yr CD Natl

1.

    

   

Federal Funds

1.75%

YTD % Change

26.4%

Mexico $

19.

15-Yr Fixed mtge

3.16%

6-month bill

Yield:

1.53%

YTD % Change

22.3%

6Mo CD Natl

0.

Home Equity Loan Natl

6.

ND J FMA M J J A S ON

2,

2,

3,

'

Canada $

1.

Gainers and Losers from the S&P 1500 Index

Company Close

5D %

Chg

Cirrus Logic Inc 72.43 29.

Tiffany & Co 127.00 28.

Unisys Corp 10.38 27.

Harmonic Inc 8.00 25.

Qorvo Inc 97.22 23.

Murphy USA Inc 113.57 22.

El Pollo Loco Inc 15.00 22.

Ultra Clean Inc 22.13 22.

eHealth Inc 73.14 21.

AnixterInternational 84.77 21.

Briggs & Stratton 8.53 20.

Invacare Corp 8.13 20.

ABIOMED Inc 216.79 18.

Sanderson Farms Inc 159.76 18.

OneSpan Inc 18.70 18.

Installed Bldng Prod 75.70 18.

Ruth's Hospt Grp 24.28 17.

PH Glatfelter Co 18.15 17.

Mattel Inc 11.89 16.

LibertyPropertyTrust 59.06 16.

¬

Company Close

5D %

Chg

GrubHub Inc 33.72 -42.

Tupperware Brands 9.73 -40.

US Silica Inc 4.90 -36.

Comty Health Systems 3.20 -28.

Arista Networks Inc 185.30 -24.

Diebold Nixdorf Inc 7.48 -22.

Etsy Inc 45.66 -22.

Unit Corp 2.08 -22.

MeritMedicalSystems 24.15 -19.

Michaels Cos Inc/The 8.69 -19.

HMS Holdings Corp 26.53 -19.

AMAG Pharmaceuticals 9.94 -18.

Owens-Illinois Inc 8.74 -18.

World Wrestling Ent 55.96 -18.

Lydall Inc 19.60 -17.

CHRobinsonWorldwide 74.70 -17.

Orthofix Medical Inc 41.52 -17.

Newpark Resources 6.02 -17.

World Acceptance 104.68 -16.

LSB Industries Inc 4.55 -16.

Brazil R$

3.

5D % Change

1.5%

Close

27,347.

YTD % Change

17.2%

Futures Close 5D % Chg
Copper 2.65 -0.
Crude Oil 56.20 -0.
Gold 1511.40 0.
Natural Gas 2.71 18.
Orange Juice 0.99 -2.

¬

Futures Close 5D % Chg

Silver 18.05 0.

Sugar 12.48 1.

Soybean 9.37 0.

Wheat 5.16 -0.

Corn 3.89 0.

Dow Jones 30 Industrials

Company Close

5D %

Chg

Chg %
3M
3M Co 170.09 2.4 -1.
AmerExpCo 119.14 0.7 -4.
Apple Inc 255.82 3.7 22.
Boeing 345.19 1.6 3.
Caterpillr 144.49 3.4 14.
Chevron 116.21 -2.1 -3.
Cisco Sys 47.03 0.3-15.
Coca-Cola 53.90 0.3 3.
Dow Inc 52.31 3.6 11.
ExxonMobil 69.60 0.5 -3.
Gldman Schs 217.39 1.5 2.
Home Depot 237.34 1.3 11.
IBM 135.53 0.1 -9.
Intel Corp 56.51 0.1 14.
J&J 131.20 2.2 0.

¬

Company Close

5D %

Chg

Chg %

3M

JPMorgan 127.80 1.4 13.

McDonald's 193.94 -0.3 -8.

Merck & Co 84.94 3.3 1.

Microsoft 143.72 2.1 4.

NIKE Inc 89.18 -1.9 7.

Pfizer Inc 38.39 4.4 0.

Prcter& Gmbl 123.87 0.5 6.

Travelers Cos I 130.72 0.2 -10.

UnitedTech 146.68 2.6 11.

UntdHlthGr 252.21 3.0 1.

Verzn Comm 60.37 0.0 9.

Visa Inc 180.93 1.7 1.

Walgreens 57.38 3.5 6.

Walmart 117.62 -1.2 7.

Walt Disney 132.75 1.4 -6.

Europe -22.8% +22.8%

STXE 600 (EUR) Pr 399.43 0.

CAC 40 INDEX 5761.89 0.

DAX INDEX 12961.05 0.

FTSE 100 INDEX 7302.42 -0.

BY ELI ROSENBERG

AND THOMAS HEATH

The United States added
128,000 jobs in October as the
jobless rate ticked up to 3.6 per-
cent, outperforming analyst fore-
casts during a month in which
one of the largest private-employ-
er strikes in recent years weighed
on the economy.
The number was below recent
averages but signaled that the
labor market remains resilient
and healthy 11 years into the
economic expansion. The Stan-
dard & Poor’s 500 and Nasdaq
stock indexes closed at record
highs amid growing signs that
recession fears several months
ago might have been overblown.
The new data was somewhat
skewed because of a General Mo-
tors strike, in which 46,000 work-
ers shut down production for six
weeks at the automaker, causing
layoffs from Canada to Mexico in
related industries, and sent un-

employment claims in states such

as Michigan surging.

“For now, we can take solace

that there are sufficient job and

wage gains to support the econo-

my and keep it miles away from

any recession,” Joseph Brusuelas,

the chief economist at the tax and

consulting firm RSM, said in an

interview.

The jobs data lifted two Wall

Street indexes to record levels.

The S&P 500 stock index rose

1 percent to 3,067, and the Nasdaq

rose 1.1 percent to 8,386. The Dow

Jones industrial average closed

near a record, rising more than

300 points.

The Bureau of Labor Statistics,

which released the report, noted

the effects of the GM strike. The

number of workers in auto and

parts manufacturing declined by

42,000. Federal employment de-

creased by about 17,000, as tem-

porary workers engaged in the

2020 Census completed their

work.

Brusuelas said those numbers

indicated the economy would

have generated about 187,

jobs in October if not for the

strike and census completions,

besting the monthly average of

about 167,000 for the year.

“For forward-looking policy-

makers and investors, that would

be the number you want to hang

your hat on going forward,” he

said in an interview. “That im-

plies strong spending going for-

ward, which will prevent the

economy from entering a down-

turn anytime soon.”

Daniel Zhao, a senior econo-

mist at Glassdoor, agreed.

“If not for the strike, the report

would have been a blockbuster,”

he said.

The Bureau of Labor Statistics

also revised the monthly job total

from August and September up-

ward, to a net of 95,000 more

jobs.

The positive jobs report came

two days after the Commerce

Department issued data showing

that the economy had slowed

from July through September, in

part because of a contraction in

business investment. The Federal

Reserve lowered interest rates

this week for the third time this

year in an effort to boost the

economy and insulate it from the

downward drag of the trade war

and weakening growth abroad.

The job news was coupled Fri-

day with the release of the Insti-

tute for Supply Management’s in-

dex for October, a closely watched

gauge that indicated a contrac-

tion in the manufacturing sector

for the third straight month.

The slowing but positive

growth, weaker business invest-

ment and resilient labor market

paint a picture of an economy

that has decelerated a bit from

2018’s strength but doesn’t ap-

pear close to dipping into a reces-

sion, despite fears that were

sparked several months ago.

The job gains in October came

primarily in industries such as

health care and social assistance,

which added 34,000 jobs, and

leisure and hospitality industry,

which added 61,000.

Wage growth has remained

stubborn at around 3 percent,

puzzling economists who don’t

understand why it has failed to

rise more dramatically as the job

market has tightened.

President Trump, who is stak-

ing his reelection campaign in

part on the growth the economy

has recorded in recent years,

cheered the jobs report.

“Wow, a blowout JOBS number

just out,” he wrote. “This is far

greater than expectations. USA

ROCKS!”

David Berson, the chief econo-

mist at Nationwide Insurance,

said it is getting harder and hard-

er for employers to find workers.

He forecast that wage growth

would become stronger if the

unemployment rate sinks further.

Heather Long contributed to this

report.

BY TAYLOR TELFORD

A former employee has accused
WeWork and ousted chief execu-
tive Adam Neumann of pregnan-
cy discrimination, alleging she
was publicly and privately de-
meaned, demoted and eventually
fired because of her pregnancies.
The complaint is the latest to
emerge about the company’s cul-
ture under Neumann’s leader-
ship.
Medina Bardhi, who served as
Neumann’s chief of staff, alleges
that female employees were sub-
jected to “sexually offensive con-
duct,” disparaged for taking ma-
ternity leave and often paid signif-
icantly less than their male coun-
terparts, according to a complaint
filed Thursday with the Equal Em-
ployment Opportunity Commis-
sion. Bardhi had two children
during her more than five years at
WeWork and claims Neumann re-
ferred to maternity leave as “re-
tirement” and “vacation,” accord-
ing to the complaint.
She alleges she was demoted
after both pregnancies — and re-
placed by men at higher wages —
and given no instruction about
her new responsibilities.
“During and after both leaves,
Ms. Bardhi paid the price in her

position and earning power at the

Company, by having her role dras-

tically and materially reduced, be-

ing demoted, and having male

employees elevated over and re-

placing her,” the complaint states.

The EEOC will investigate the

allegations; if it finds that dis-

crimination occurred, then Bar-

dhi and WeWork will be invited to

participate in a conciliation proc-

ess with the agency. If it isn’t

resolved through conciliation, the

agency could file a federal lawsuit.

Should it decide against litiga-

tion, Bardhi would then have the

right to sue.

WeWork already faces lawsuits

alleging age, gender and pay dis-

crimination from multiple wom-

en, including a former executive.

Once valued at as much as $47 bil-

lion, the co-working company has

had a tumultuous run since it

postponed its IPO in September

amid troubling reports about

Neumann’s behavior and ques-

tions about the company’s true

worth. WeWork was on the brink

of running out of money before it

secured a $9.5 billion bailout from

SoftBank. Last month, Neumann

severed nearly every tie with the

company he founded, his depar-

ture sweetened by $1.7 billion in

cash and credit.

“WeWork intends to vigorously

defend itself against this claim,”

the company said in a statement

emailed to The Washington Post.

“We have zero tolerance for dis-

crimination of any kind. We are

committed to moving the compa-

ny forward and building a compa-

ny and culture that our employees

can be proud of.”

A personal spokesperson for

Neumann did not immediately

respond to a request for comment.

According to Bardhi’s com-

plaint, the discrimination began

at her October 2013 job interview,

when Neumann “unlawfully and

intrusively” asked when she was

going to get married and become

pregnant — a question he routine-

ly asked female candidates. When

she became pregnant in

March 2016, the document says,

she was “scared” to disclose it but

felt obligated to explain why she

couldn’t accompany Neumann on

business travels, “due to his pen-

chant for bringing marijuana on

chartered flights and smoking it

throughout the flight.” She did not

want to expose her unborn child

to the smoke.

The complaint also alleges that

Jennifer Berrent, the chief operat-

ing officer, repeatedly referred to

Bardhi’s pregnancy and impend-

ing maternity leave as a “problem”

that had to “be fixed.” Two months

after Neumann learned of Bar-

dhi’s pregnancy, he told her that a

search for her replacement was

underway

“It was clear that WeWork was

not just looking for temporary

coverage, but a permanent re-

placement, in direct response to

her pregnancy,” the complaint

states.

The male employee who suc-

ceeded Bardhi after the first preg-

nancy was offered $400,000 a

year, plus a $175,000 signing bo-

nus, the complaint says, while she

earned $150,000. Though she was

eventually reinstated, the se-

quence was repeated after she

became pregnant in February, the

filing shows: She was replaced by

a male hire, demoted and not

given any meaningful work for

months, the complaint states.

Bardhi says she was fired over

the phone in early October, six

months after giving birth and

days after Neumann’s exit. She

had worked with Neumann since

2005, at his previous company,

Egg Baby. She was told there was

no longer a role for her with

Neumann’s departure, although

she had not worked closely with

him for months.

“Our hope is that this class

action complaint will send a loud

and clear message to WeWork and

other start-ups that pregnant

women cannot be forced out of

their jobs, that women must be

paid fairly and afforded equal op-

portunities, and that you cannot

retaliate against any person who

voices a complaint of discrimina-

tion,” Bardhi’s attorney, Douglas

Wigdor, said in a statement.

[email protected]

Ex-employee: WeWork

discriminated against

her during pregnancy

S&P, Nasdaq peak as jobs report sparks new optimism

MARY ALTAFFER/ASSOCIATED PRESS

In a complaint filed with the Equal Employment Opportunity Commission, a former WeWork

employee alleges that her pregnancies led to her demotion and eventual termination from the company.

The government’s jobs report for October

“implies strong spending going forward, which will

prevent the economy from entering a downturn

anytime soon.”

Joseph Brusuelas, chief economist at the tax and consulting firm RSM