March 23, 2014 |
Dear Liz: In 2007, my parents signed over their house deed to my name. Does this trigger the gift tax? They never filled out a gift tax form. Is it too late? Dad has passed on but Mom is still with us. She has Alzheimer's disease, and I have her power of attorney. Are there no taxes due because of the lifetime exclusion? Answer: Yes, a gift tax return should have been filed, but no, the gift tax itself almost certainly wasn't triggered. In 2007, each of your parents would have had to give away more than $1 million in their lifetimes before gift tax would be owed.
July 3, 2012
Associated Press U.S. stocks are opening mixed. The Dow Jones industrial average is down four points to 12,867. The Standard & Poor's 500 is up less than a point at 1,366. The Nasdaq composite index is up less than half a point at 2,951. Investors expect a quiet day. Trading will end early, at 1 p.m. EDT, ahead of the July Fourth holiday. Auto companies are reporting June car sales throughout the day. Chrysler says its sales jumped 20 percent. Later in the morning, the government will release data on U.S. factory orders for May. Otherwise, investors are waiting for Friday's jobs report and next week's kickoff to earnings season.
October 23, 2012 |
The Dow got shellacked Tuesday as a number of companies reported disappointing earnings. We took a look at the market action during today's KTLA-TV Channel 5 Consumer Confidential segment. We also looked at the growing number of U.S. workers who say they expect to remain on the job into their 80s, and the eerily accurate use of Halloween masks to determine the outcome of the presidential election.
June 20, 2012 |
Stocks edged lower in early trading Wednesday ahead of the potentially big news coming later: the Federal Reserve may announce new steps to boost the economy. The Dow Jones industrial average was down 18 points, or 0.1%, to 12,819 shortly after the opening bell. The broader Standard & Poor's 500 was down 2 points, or 0.2%, to 1,356. The tech-focused Nasdaq was essentially flat, down less than a point at 2,929. Also weighing on the market was a downbeat forecast for consumer products giant Procter & Gamble, which reported slowing sales growth.
October 1, 2012
Stock are higher a few minutes after the opening bell as investors welcomed the results of stress tanks of Spanish banks, as well as other positive news about Europe's economy. The Dow Jones industrial average is up 72 points to 13,427. The Standard & Poor's 500 index is up eight points to 1,449. The Nasdaq is up 14 points to 3,130. Monday is the first day of trading of the fourth quarter. Markets around Europe rose. However, credit rating agency Moody's might downgrade Spain's debt to junk status this week.
July 23, 2012 |
Stocks lightened their losses but still are deeply in the red this morning amid fear that Europe's lingering economic crisis is entering another dangerous phase. Concern that Spain may need a bailout spooked investors worldwide as the country's borrowing costs soared. European stock markts tumbled, with Asian and U.S. shares following in lockstep. As of 9:30 a.m. Pacific, the Dow Jones industrial average was off 155.49 points, or 1.2%, to 12,667.08. The index was down nearly 240 points at its low point.
October 3, 2012 |
NEW YORK -- Stocks rose Wednesday following a choppy opening and after better-than-expected reports on private employment and business activity. The Dow Jones rose 49 points to 13,532 shortly after 9 a.m., Pacific time. The Standard & Poor's 500 index rose seven points to 1,453. Payroll processing firm ADP estimated Wednesday that the economy added 162,000 jobs in September, higher than consensus estimates of 140,000. However, ADP reports have not been consistently reliable predictors of the Department of Labor's monthly unemployment report, which is due out Friday.
November 21, 2012 |
Stocks edged slightly higher in early trading after the U.S. Labor Department reported a decrease in first-time unemployment claims last week. The Dow Jones industrial average rose 8 points, or 0.1%, to 12,797 shortly after the opening bell on the New York Stock Exchange. The broader Standard & Poor's 500 index rose 2 points, or 0.2%, to 1,390. The tech-heavy Nasdaq rose 10 points, or 0.3%, to 2,927. The U.S. Labor Department said initial jobless claims declined by 41,000 to 410,000 last week, compared to the previous week.
June 29, 2012 |
Stock markets around the world roared higher Friday after European policymakers made their latest move to ease the continent's debt crisis. Lawmakers agreed to pump money into troubled banks directly from the continent's bailout fund rather than from the debt-laden governments themselves. Officials also agreed to set up a continent-wide bank regulator to create tougher and more uniform banking standards throughout the euro region. As of 11:25 a.m. PDT, the Dow Jones industrial average soared 232.84 points, or 1.9%, to 12,835.10.
January 8, 2013 |
Investors sent stocks lower ahead of the release of corporate earnings that Wall Street will digest in coming weeks. The Dow Jones industrial average lost 48 points, or 0.4%, to 13,336 shortly after the opening bell. The broader Standard & Poor's 500 index lost seven points, or 0.5%, to 1,455. The Nasdaq was down nine points, or 0.3%, to 3,090. Earnings season unofficially begins with aluminum giant Alcoa Inc., which is to release earnings after the markets close Tuesday.