China tries to reassure on economy, cuts growth target
China’s leadership tried to quell anxiety about its slowing economy following financial turmoil and rising labor unrest as it cut its growth target Saturday and promised to open oil and telecoms industries to private competitors in sweeping industrial reforms. Continue reading at cnbc.com
Week Ahead: Light On Data, But Jobs Report To Shape Conversation
This week is going to be light on new data, giving investors plenty of time to continue chewing over Friday's jobs report, which delivered a stronger-than-expected February hiring number and helped the S&P 500 index post its third-straight week of gains. Continue reading at forbes.com
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Why the 401(k) isn’t working for millions of Americans
Across the political spectrum, people warn of a coming time bomb in our retirement system. Many analysts believe the growing population of retirees will overwhelm the Social Security program, and that something must be done to shore up its finances. Continue reading at businessinsider.com
Fitch cuts Barclays Africa after parent says to sell down stake
JOHANNESBURG (Reuters) – Credit ratings agency Fitch downgraded South Africa’s Barclays Africa Group (BGAJ.J), citing a lower likelihood of support from the bank’s British parent as it sells down its stake. Barclays plc (BARC.L) said on Wednesday it would … Continue reading at finance.yahoo.com
First Quadrant L P CA Has ,970,000 Position in Old Dominion Freight Line (ODFL)
First Quadrant L P CA continued to hold its position in shares of Old Dominion Freight Line (NASDAQ:ODFL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,350 shares of the … Continue reading at watchlistnews.com
Teach About Something You Love and Make a Full-Time Income Doing It!
Inside you’ll learn:
– How to do proper niche research
Esteemed historians of education David Tyack, Carl Kaestle, Diane Ravitch, James Anderson, and Larry Cuban journey through history…
Teachers in the 21st century face the challenge of keeping up-to-date on the latest methods of teaching, new technology for the cl…
HSBC Says ‘Cash Is King’
Despite some recovery in the world’s equity markets following a turbulent start to the year, strategists at HSBC Holdings Plc are urging caution when attempting to buy a dip in stocks. “Cash is king in a world with [debt] overhangs,” the team, led by … Continue reading at bloomberg.com
SME Association wants govt to relook rehiring programme for foreign workers
KUALA LUMPUR: The SME Association hopes the government will look into the rehiring programme for foreign workers without permits by simplifying it to help the small and medium enterprises (SMEs). SME Association of Malaysia national president, Michael Kang … Continue reading at english.astroawani.com
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Wages: The shadow hanging over the jobs market
For American workers, it’s a familiar refrain: Jobs are plentiful but they don’t pay very much. The unemployment rate is falling, but it’s because the workforce is shrinking. The economy is growing, but the benefit distribution has been uneven. The … Continue reading at cnbc.com
3M Co (MMM) Stake Held by Macguire Cheswick & Tuttle Investment Counsel LLC
Macguire Cheswick & Tuttle Investment Counsel LLC continued to hold its position in shares of 3M Co (NYSE:MMM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,766 … Continue reading at sleekmoney.com
Payrolls up 242,000; jobless rate still 4.9%
WASHINGTON — U.S. employers added a robust 242,000 workers in February as retailers, restaurants and health care providers drove another solid month for the resilient American job market. The unemployment rate remained at 4.9 percent. Average hourly … Continue reading at arkansasonline.com
* Published on Sep 25, 2015
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On Monday existing home sales for August were down 4.8%, however, year-over-year sales are still at a strong plus 6.2%. Uncertainty over the Fed's handling of interest rates dominated markets, but the Dow Industrials ended up 125 points.
On Tuesday, fears of a weakening economy persisted, with crude oil falling along with commodities, copper, in particular, dropping more than 3.5%. A new report from the Asian Development Bank also cut its growth forecast for China by .4% down to 6.8%. Markets ended the day down strongly, with the Dow Industrials off 179 points.
On Wednesday, the September PMI flash index for manufacturing held steady at 53, slightly in positive growth territory. Another PMI manufacturing report for China showed a drop to a 6.5 year low of 47 in September. This put downward pressure on oil and commodities, with crude declining over 4% to .48 a barrel. Markets ended the day modestly lower.
On Thursday, durable goods orders for August declined 2% compared to the prior month's 1.9% gain, new home sales for August were up 5.7%, and jobless claims for the week ending September 19th were up 3,000 to 267,000. After markets closed, Fed Chair Janet Yellen said she anticipates an increase in the federal funds rate later this year. Markets ended the day lower, with the Dow Industrials falling 78 points.
On Friday, the final revision to the 2nd quarter GDP was increased another .2% to 3.9%. Stocks opened strongly higher as investors felt reassured by Fed Chair Yellen's prior comments. Now let's take a look at some stocks.
Pandora Media Inc. (NYSE:P) shares jumped more than 5% Monday before pulling back slightly, after it was announced that there has been a positive development in a trial regarding how much music royalties Pandora and other internet radio companies will have to pay. The decision is expected to be announced by the middle of December.
Groupon Inc. (NASDAQ:GRPN) stock fell the entire week after the company announced that it was going to slash 1,100 jobs, approximately 10% of its workforce, and close operations in 7 countries. The online deals company has been struggling as competition continues to increase from Living Social and Amazon.
Microsoft Corporation (NASDAQ:MSFT) announced Thursday that it is partnering with Baidu, China's largest search engine, to help increase the transition of China's Windows users to its latest operating system, Windows 10. Baidu will now provide a quick Windows 10 install option, to its 600 million users, while Microsoft will make Baidu its default search engine and homepage for the Windows Edge browser.
Caterpillar Inc. (NYSE:CAT) shares dropped Thursday, reaching a new 52-week low of .65 after the company lowered its full-year guidance and also announced that it will be eliminating up to 5,000 jobs between now and the end of 2016. Caterpillar also warned that the job cuts could potentially reach 10,000 and last until 2018.
Twitter Inc. (NYSE:TWTR) shares fell as much as 5% on Thursday after Citi analysts lowered their target price from to per share. Citi, however, maintained their neutral rating for the stock. Citi believes that the social media company will continue to struggle to monetize its operations.