September 19, 2013 |
Europe, and most of the world, is getting more expensive for U.S. travelers. While the Federal Reserve's surprise decision to continue pumping money into the economy caused stock markets throughout the world to rally, it led to further erosion of the dollar's value against its international peers. The U.S. currency fell the most against Brazil's real and Turkey's lira after Fed policymakers chose to await news of economic progress, including holding its interest-rate target at almost zero until unemployment falls below 6.5%.
September 16, 2013 |
NEW YORK -- Stocks shot up nearly 1% on Monday after former Treasury Secretary Lawrence Summers surprised investors by pulling out of the running to be the next chairman of the Federal Reserve. The Dow Jones industrial average rose 140.05 points, or 0.9%, to 15,516.11 shortly after the opening bell. The broader Standard & Poor's 500 index rose 13.25 points, or 0.8%, to 1,701.24. The technology-heavy Nasdaq composite gained 16.78 points, or 0.5%, to 3,738.96. The rally on Wall Street followed major stock markets in Europe, which were up about 1%. Experts saw Summers as less likely to continue the Fed's efforts to hold down interest rates, which have helped fuel this year's stock rally.
September 4, 2013 |
NEW YORK -- If the U.S. strikes Syria, any resulting stock selloff will likely be short-lived, according to a recent analysis of previous market shocks. The broad Standard & Poor's 500 index fell a median 2.4% in initial trading after major world events over the last 70 years, bottomed after six days and took a median two weeks to recoup losses, according to a research note this week by Sam Stovall, chief equity strategist at S&P Capital IQ. Stovall's note highlighted 14 events ranging from the Pearl Harbor attack in 1941 to the Madrid bombings in 2004 to the Japanese tsunami of 2011.
September 2, 2013 |
TOKYO - After two decades of economic stagnation, once-mighty Japan is beginning to revive - under policies that some experts say could offer lessons to the still-struggling economies of the United States and Europe. While the Eurozone tries to break out of recession and the U.S. economic recovery remains anemic, Japan has begun to grow at an encouraging rate. The shock-therapy policies of Prime Minister Shinzo Abe have helped Japan's economy expand for three straight quarters at a pace faster than that of the United States.
August 23, 2013 |
NEW YORK - Investors shook off the after-effects of the Nasdaq Stock Market's three-hour outage, which rattled investor confidence in high-speed electronic trading, and spurred the major indexes to a second straight day of gains Friday. Nasdaq's technical snafu, dubbed a flash freeze, renewed fears of Wall Street technology run amok, but investor worries seemed to ebb. On Friday, Robert Greifeld, chief executive of the exchange's parent company, Nasdaq OMX Group Inc., defended the company's response and declared the exchange "came back successfully" from Thursday's outage.
August 22, 2013 |
Nasdaq said Thursday it has halted all trading -- apparently the latest snafu to strike major exchanges and trading firms. The halt affected scores of big-name stocks, including Apple Inc. and Google Inc., leaving small investors and others scrambling to find out what's happening in their stocks. The cause of the glitch is unknown, although Nasdaq put an alert on its website related to something known as its securities information processor, which disseminates stock quotes. The Nasdaq options markets released an update recommending that all firms route their orders elsewhere.
August 16, 2013 |
Dear Liz: If I plan to stay invested for more than 15 years and I can tolerate the ups and downs of the market, why would I want to put any of my 401(k) money into bonds instead of putting it all in various stock funds? The bond funds in my 401(k) have a five-year return of 5% to 6% whereas the other funds are 8% to 13%. Answer: If you look at the more recent performance of those bond funds, you'll notice that their returns are considerably worse. Many have been losing money lately as interest rates have risen.
August 9, 2013 |
NEW YORK - The stock market's longest weekly winning streak in a year came to an end as summer doldrums set in on Wall Street. Major U.S. indexes closed moderately lower Friday, with the Dow Jones industrial average sagging 72.81 points, or nearly 0.5%, to 15,425.51. For the week, the Dow and other indexes finished down about 1%, ending a string of six straight weekly gains. Some analysts saw the pullback as a temporary lull amid minimal economic data. Trading volume was especially light as money managers started their annual August getaways.
July 12, 2013 |
The stock market has returned to normal. Share prices are back at record highs -- and small investors are selling. After pouring into U.S. stock mutual funds early in the year, individuals have been net sellers in four of the last five months, according to data from the Investment Company Institute, a fund industry trade group. To put it indelicately, the proverbial dumb money has been rushing out of the market just as share prices have been racing up. The Dow Jones industrial average and Standard & Poor's 500 index hit record highs Thursday on hope that U.S. economic growth is picking up. The Dow is giving back a bit Friday.
May 18, 2013 |
Call it retirement anxiety, or maybe recession obsession. For all of their married life, Patrick Webster, 63, and Susie Martin, 54, have been extremely frugal. Webster and Martin, who both work at Marymount College in Rancho Palos Verdes, have been stashing away their combined income at an enviable rate - more than 25% - for retirement. Together they have more than $1 million in investments and no debt. But rather than feeling reasonably secure about their financial future, they dread a return of hard times.