Of course the happenings on Capitol Hill were in full focus yesterday, and we'll get to that shortly, but first let's recap into the corporate news of Wednesday that seems to have been completely overshadowed by what's going on in Washington.
While folks remain focused on the retail industry that has had its ups and downs over the last few days as Amazon.com Inc. (AMZN) continue to take its toll on the industry, little attention was given to the push that Apple Inc. (AAPL) is taking in the realm of healthcare. Insurer Aetna Inc. (AET) is making Apple Watches available to employees of its largest corporate customers, a source tells TheStreet's Chris Nolter, highlighting the importance of health and fitness to Apple's line of smartwatches. It's not known how many of Aetna's 23 million members will get the watch, or whether it is subsidizing the devices, but the move suggests a vibrant future for wearables in corporate wellness plans.
From wellness to illnesses, it seems that tobacco companies including Philip Morris International Inc. (PM) and British American Tobacco (BTI) are cashing in on the vape craze, especially in Asia, where the electronic cigarette is helping make up for sales declines in traditional smokes.
And then there is the world of corporate activism that we at TheStreet have been hitting home like New York Yankees rookie slugger Aaron Judge hammers home runs over the right field wall at Yankee Stadium. On deck in the world of activism is Bill Ackman, who is set to step up to the plate on Thursday against payroll and outsourcing services company Automatic Data Processing Inc. (ADP) . The activist is seeking to help improve ADP's business and has been angling since earlier this month to nominate directors for the company's board. Check back for a boxscore update.
Ok, now onto the D.C. beltway. What a week it's been so far.
You would have expected a little sell-off after President Trump watched a gaggle of CEOs exit various councils but there wasn't and that likely means that investors are still seeing strong profits from American companies and that the macro trends, despite what is going on on Capitol Hill, continue to point to a bull market. Couple those signals with signs from the Federal Reserve that it might start trimming its $4.5 trillion balance sheet in September, and all things seem to point upward, at least for now.