CALIFORNIA | LOCAL
April 15, 2013 |
Think you are being ripped off at the gas pump? One California lawmaker wants to give the public a place to contact with complaints of price manipulation or other shenanigans. Sen. Mark Leno (D-San Francisco) has proposed creation of an Office of Fuel Price Investigation and Manipulation Prevention at the California Energy Commission. Leno said the new office would develop anti-fuel price manipulation standards, investigate potential incidents of illegal activity and recommend ways to reduce the volatility of gas prices in California, which last year saw some stations charge $5 per gallon.
December 27, 1987 |
At a time when computerized program trading is a favored bete noire in explaining the market's Oct. 19 debacle, it may come as a surprise to suggest that another form of computerized trading may be a partial remedy for excessive market volatility. Nonetheless, the securities industry could benefit from an innovation in communications technology that already is used widely in banking--the automated teller machine, or ATM.
December 29, 2011 |
The Standard & Poor's 500 index is once again in the red for 2011. A rough day on the markets Wednesday yanked the benchmark index back into negative territory with just two trading days left for the year. The index ended Wednesday down 1.3%, or 15.79 points, at 1,249.64. That is 0.6% below where it began 2011. The Dow Jones industrial average ended the day down 1.1%, or 139.94 points, at 12,151.41. It is still up 5% for the year. Investors were rattled by reports that European banks had borrowed large sums from the European Central Bank without lending most of it out, highlighting risks still present in the continent's economy.
July 19, 2012 |
WASHINGTON -- New claims for unemployment benefits rose sharply last week to 386,000, the biggest jump in more than a year as the labor market continued to show signs of struggling amid the weakening recovery. The increase of 34,000 in initial jobless claims came a week after a dramatic drop to 350,000, the lowest level in more than four years. But that figure now looks like an outlier amid an avalanche of other data that show the economic recovery is stuck in low gear. Federal Reserve Chairman Ben S. Bernanke this week delivered a downbeat assessment of the recovery as pressure builds on the central bank to take more action to stimulate growth.
April 23, 2008 |
Federal regulators said Tuesday that placing tougher restrictions on agricultural commodity trading would not alleviate high and volatile prices in those markets and could make matters worse. Farmers, ranchers and grain processors met with regulators in Washington to discuss the causes behind turbulent markets and historically high prices for wheat, corn and other foodstuffs. Farmers and food producers contend that speculation by Wall Street investors -- not a supply-demand imbalance -- is what's driving up prices and volatility, making it harder for commercial buyers and sellers of grain to use the exchanges as a tool for limiting the risks of price uncertainty.
April 26, 2008 |
House Democratic leaders urged federal regulators Friday to investigate whether market manipulation has contributed to record-high gasoline prices. House Speaker Nancy Pelosi (D-San Francisco) and six other members of the House leadership urged the Federal Trade Commission to use new authority to investigate the oil and gas markets for price manipulation and other fraud. "Recent price volatility and investor speculation in the oil market require the diligent oversight Congress called for, especially when oil prices break records daily, hitting $119 per barrel this week," the letter said.
April 19, 1998
I am not a professional economist, but I have a theory about our unprecedented and, apparently, permanent bull market. It seems to me that the traditional criteria by which stock prices are determined --earnings, quality of management, etc.--have been superseded by simple supply and demand. Twice each month, millions of baby boomers, having sated their appetites for homes, cars and espresso machines and facing for the first time the reality of eventual retirement, are stashing the maximum allowable into tax-deferred mutual funds.
May 7, 2013 |
The Dow Jones industrial average jumped above 15,000 on Tuesday morning, extending a surge in the stock market that has carried the famous index up almost 2,000 points this year. The gain in U.S. stocks followed a vibrant overnight rally in Japanese shares and positive economic news in Germany that sent that country's leading stock index to a new record high despite Europe's ongoing debt crisis. The enthusiasm carried over to the U.S., where the Dow jumped above 15,000, an intra-day mark that it first hit last week.
July 21, 2010 |
Morgan Stanley outshone rival Goldman Sachs Group Inc. in trading during the second quarter, upending the usual pecking order on Wall Street. Morgan Stanley shares surged after the bank said it swung to a second-quarter profit with rising revenue across its business, bucking an industry trend. The financial services company said earnings for the quarter came in at $1.58 billion, or $1.09 a share, compared with a loss of $1.26 billion, or $1.10, a year earlier. On an adjusted basis, Morgan Stanley said profit in the latest quarter was $1.44 billion, or 80 cents.
May 7, 2010 |
Just when you thought it was safe to get back into the stock market. The stock market's heart-pounding plunge Thursday — with the Dow Jones industrial average briefly plummeting almost 1,000 points before closing down nearly 350 — was a jarring reminder that volatility can return in an instant. A bad day that began with continuing fallout from the Greek credit crisis morphed into an ominous free fall that stirred memories of the 1987 stock market crash and the darkest days of the global financial collapse in early 2009.