Morningstar Runs the Numbers

Inspired by Harper's Index (with a tip of the hat to FiveThirtyEight's Significant Digits blog), Morningstar Runs the Numbers uses a numbers-based approach to highlight recent Morningstar research, along with some outside news stories.

151,000 The U.S. economy added 151,000 jobs in August--below market expectations, but far from a disaster. Morningstar's Tim Strauts thinks that given mixed economic data elsewhere, it's unlikely the Fed will act to raise rates in September.

13 Million

:

Apple has almost $215 billion in international cash on hand, so the record tax bill will make only a small dent in the firm's cash cushion. Further, Apple indicated that the ruling will not have an effect on its long-term tax rate, presumably because its Irish tax structure in question was modified in 2015. Regardless, we continue to view Apple as fundamentally undervalued, and the company remains one of our best investment ideas in the tech sector.

$70 Billion

Barb Noverini and Chris Higgins recently took a

and found that Airbus Group is better positioned than

We believe Airbus and Boeing will capture more than 90% of the narrow-body market through 2035 thanks to the introduction of the A320neo and B737 MAX. Our analysis indicates that these new narrow bodies represent a nearly $70 billion opportunity for Airbus and Boeing in present-value terms. However, Boeing's lagging order book indicates to us that the neo enjoys an advantage over the MAX. We think Airbus investors will come off the sidelines as the A320neo production ramp-up adds EUR 2.5 billion of profit contribution from 2016 to 2020 and as capital outlays on other programs taper off.

0.18% In a look this week on how Vanguard is managing its continued growth, Kevin McDevitt explored how the firm keeps driving expenses down:

Its at-cost structure has led to a firmwide average expense ratio of just 0.18% (18 basis points), 0.13% on an asset-weighted basis. The "Vanguard effect" is leading to fee compression across the industry. Its mutual structure is the foundation for Vanguard's low-cost advantage, but it also creates a mindset that imbues the firm's culture. To be clear, though, this structure also allows Vanguard to make investments in its business that will ultimately benefit shareholders in the form of lower fees or better services.

Most Popular Articles, Videos, and Securities

Most Popular Articles

• High-Quality Dividend-Payers Selling at a Discount
• 5 More Under-the-Radar and Up-and-Coming Funds
• 4 Common Real Estate Mistakes Retirees Make
• Ultimate Stock-Pickers: Top 10 Buys and Sells
• 5 Mistakes to Avoid With Your Cash Holdings

Most Popular Videos

• This Vanguard Bond Fund Is a Compelling Choice
• Is a Home a Good Investment?
• Why Vanguard Gets the Lion's Share
• Demographics Tell Tale of Two Housing Economies
• This Strategic Beta ETF Ticks a Lot of Boxes

Most Requested Stock Quotes Alphabet Apple IBM Berkshire Hathaway Wells Fargo

Gilead Sciences

Apple

Allergan

Norwegian Cruise Line

American Express

Most Requested Fund Quotes Vanguard 500 Index Vanguard Dividend Growth Vanguard Wellesley Income Fidelity Contrafund Vanguard Wellington

Most Requested Fund Analyses

Vanguard Tax-Managed Balanced

Vanguard Dividend Growth

T. Rowe Price Dividend Growth

Vanguard Wellesley Income

Fidelity Contrafund

Most Requested ETF Quotes SPDR S&P 500 ETF Vanguard Total Stock Market ETF Vanguard REIT ETF Vanguard High Dividend Yield ETF Vanguard Dividend Appreciation ETF

Most Requested ETF Analyses

Vanguard Dividend Appreciation ETF

Schwab US Dividend Equity ETF

Vanguard High Dividend Yield ETF

Vanguard Total Stock Market ETF

Vanguard Total International Stock ETF