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We're overdue for a pullback, and the red flags are going up. Yale professor and Nobel prize winner Robert Shiller's measure for stock values -- the Shiller P/E -- is at levels last seen before the financial crisis. Consider also that 71% of IPOs had no earnings the day the company went public, a level last seen in the Dot-com bubble. That's a lot of investing in stocks that only have promises and projections.
non-farm payrolls will be released Friday. The Nasdaq 100, the only major stock index that remains below all-time highs, has emerged as the strongest in the last month. Investors have also favored solar-energy stocks, oil refineries, gun makers, Japanese banks, and providers of bulk materials like gravel and cement. Utilities, real-estate investment trusts, and precious metals have fared the worst as the market prepares for the Federal Reserve to hike interest rates later this year. (See our researchLAB market scanner for more.) In company-specific news, Monster Beverage surged 9 percent after earnings and revenue beat estimates.
The reading of 95.4 was down from 98.1 best buy invest in the previous month, but up from a preliminary February reading of 93.6. One-year inflation expectations rose slightly to 2.8% from 2.5%. The Chicago PMI, which measures the strength of the Midwest manufacturing sector, fell to 45.8 in February from 59.4 in January. The large decline brings the index to its lowest point since 2009.
Fourth-quarter GDP growth was revised down to 2.2% growth from an initial reading of 2.6% growth. Economists had expected the reading to be revised down to 2%. The decline as driven by changes to business inventory levels and trade data. Consumer sentiment fell in February from January levels according to the University of Michigan survey. The reading of 95.4 was down from 98.1 in the previous month, but up from a preliminary February reading of 93.6.
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The Street view is for EPS of $1.70 on revenue of $1.48 billion. Energy Dow Jones U.S. Energy Fund (IYE) was flat while Energy Select Sector SPDR (XLE) was up 0.15%. Chesapeake Energy (CHK) was down 4.53% after the U.S. oil and gas company posted mixed Q4 results and announced a 37% cut in capital expenditure for 2015. Adjusted net income was $34 million, or $0.11 per fully diluted share, which compares to adjusted net income available to common stockholders of $161 million, or $0.27 per fully diluted share, in the 2013 fourth quarter.
economy continued its above-trend growth. The index had a reading of positive 0.13 during the month, up from negative 0.07 in December. Still ahead, existing-home sales for January will be released at 10 am ET. Rigel Pharmaceuticals (RIGL) was up 45% after announcing it is collaborating with Bristol-Myers Squibb (BMY) on discovery, development and commercialization of cancer immunotherapies based on Rigel's extensive portfolio of small molecule TGF beta receptor kinase inhibitors. Bristol Myers-Squibb will pay $30 million upfront and Rigel is eligible to receive development and regulatory milestones that could total more than $309 million for a successful compound approved in multiple indications.
TUTT is an ETF which seeks long-term capital appreciation while maintaining a secondary emphasis on capital preservation, primarily through investments in the U.S. equity market. The Fund is an ETF of ETFs that seeks to provide attractive returns during market upturns while maintaining the ability to protect capital during market downturns by employing a multi-strategy, tactically-managed exposure to U.S. equity markets. The tactical nature of the Funds objective is a pre-determined strategy which, while active, reacts to market indicators rather than attempts to use them as predictors of market direction.
The president declined to label al Qaeda and the Islamic State of Iraq and Syria ( ISIS ) "Islamic terrorists," and he's taking some heat from critics. " The notion that the West is at war with Islam is an ugly lie ," said Obama. "And all of us, regardless of our faith, have a responsibility to reject it." President Obama was criticized for refraining from using the term "Islamic terror," but he is not unlike President Bush in the aftermath of 9/11. CBS News At a White House conference on violent extremism, Mr. Obama appeared to take pains to separate Islam from terrorism. Critics fault the president for not labeling the terror Islamic, and at a private Republican gathering in New York Wednesday night, former mayor Rudy Giuliani went even further.
Obama stopped by his family's home on Chicago's South Side while in town to designate a national monument and campaign for Chicago Mayor Rahm Emanuel's re-election. The Barack Obama Foundation, a nonprofit, is choosing from four universities that made the short list. The White House said the board chairman, Marty Nesbitt, and other members of the foundation team briefed Obama on Thursday. But a foundation official said no final recommendation was being made to the president. The official wasn't authorized to comment by name and requested anonymity.
Psaki will rejoin deputy communications director Amy Brundage, with whom she worked during the 2008 campaign and in 2010 when they undertook the media strategy for Obama's economic agenda. Obama's communications team has been focused on pushing the domestic policy ideas he spelled out in his State of the Union speech. But http://www.obamastudentloanforgiveness.net/ Psaki would no doubt also be involved in helping shape the White House message on the myriad international issues confronting the president, including Ukraine, Israel, Iran and the Islamic State militants. Palmieri is part of a White House exodus of top advisers. John Podesta , who served as counselor to the president, also stepped aside to take a senior role in Clinton's expected campaign.
The neighborhood was crucial in the African-American labor movement. Obama also is expected to announce designation of Honouliuli National Monument in Hawaii, the site of an internment camp where Japanese-American citizens and prisoners of war were held during World War II ; as well as Brown's Canyon National Monument in Colorado, a 21,000-acre site along the Arkansas River popular for whitewater rafting. The White House said the three new monuments "help tell the story of significant events in American history and protect unique natural resources for the benefit of all Americans." The 203-acre Pullman site includes factories and buildings associated with the Pullman Palace Car Company, which was founded in 1867 and employed thousands of workers to construct and provide service on railroad cars. While the company employed a mostly white workforce to manufacture railroad passenger cars, it also hired former slaves to serve as porters, waiters and maids on its iconic sleeping cars. The railroad industry and Pullman in particular -- was one of the largest employers of African-Americans in the United States by the early 1900s. Pullman workers played a major role in the rise of the black middle class and, through a historic labor agreement won by the Brotherhood of the Sleeping Car Porters, they helped launch the civil rights movement of the 20th Century, the White House said.
Google Finance Stocks and oil are rallying on Thursday as oil looks to shake off two days of losses. Near 1:45 pm ET, the Dow was up 91 points, the S&P 500 was 17 points, and the Nasdaq was up 50 points. At these levels, stocks were near their highs of the day as the Dow closes in on 18,000 and the S&P 500 sits just about 10 points below its all time high. Markets were higher on Thursday though the situation in Europe between Greece and its creditors remains unsettled as the outcome of talks between eurozone finance ministers on Wednesday saw no agreements made between the two sides. The price of West Texas Intermediate crude oil was up better than 4% to trade near $51 a barrel. The last couple days had seen oil slip, falling to near $48 a barrel. In economic news, the January report on retail sales disappointed, with headline sales falling 0.8%, more than the 0.4% decline that was expected. The bright spot in the retail sales report was from restaurants and bars, which saw sales rise more than 11% over the same month last year. Initial jobless claims also disappointed, rising to 304,000 last week up from 278,000 the prior week. In stock news, American Express shares were down about 6% after the company said it would end its co-branding agreement with Costco effective March 2016. Tesla shares were also lower, falling more than 6% , after the company last night reported earnings and reported vehicle deliveries in the fourth quarter that disappointed. NOW WATCH: Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate More From Business Insider
The Dow is still a few points short of its all-time high. The Nasdaq composite gained 15 points, or 0.3 percent, to 4,873. FOOTBALL HELPS: CBS gained $1.60, or 2.8 percent, to $59.38 after the media company reported earnings late Thursday that were slightly better than Wall Street analysts had been expecting. The company got a boost from higher advertising revenues, led by the broadcast of "Thursday Night Football" and political ad revenues associated with the midterm elections.
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Investors shrugged off a drop in one measure of consumer confidence. An early February consumer confidence index fell to 93.6 from a final January reading of 98.1, according to the Thomson Reuters/University of Michigan report. Economists expected little change from last month. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.
In overseas trading, stocks markets across the Asia-Pacific region moved mostly higher on Friday. Hong Kong's Hang Seng Index jumped by 1.1 percent, while Australia's All Ordinaries Index surged up by 2.2 percent. However, Japan's Nikkei 225 Index bucked the uptrend and dipped by 0.4 percent. The major European markets have also moved to the upside on the day.
The benchmark gauge has more than tripled from its bear- market low in March 2009, propelled higher by better-than- forecast corporate earnings and three rounds of Federal Reserve bond purchases. The Fed renewed its pledge in January to maintain record-low borrowing costs even as the economy shows signs of acceleration. The S&P 500 has gone more than three years without a retreat of 10 percent or more. But unlike last year, when the gauge never had a streak of losses that exceeded three days, the route higher in 2015 has seen repeated interruptions.
An early February consumer confidence index fell to 93.6 from a final January reading of 98.1, according to the Thomson Reuters/University of Michigan report. Economists expected little change from last month. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc. Copyright (C) 2014 MTNewswires.com.
Crude oil for March delivery is currently surging up $1.90 to $53.11 a barrel after soaring $2.37 to $51.21 a barrel in the previous session. Traders have also reacted positively to news from overseas, including upbeat European GDP data and optimistic signs regarding Greek debt negotiations. According to Reuters, Greece and its international creditors held talks on Friday on reforms needed to keep the country financed. The talks are said to increase the possibility of reaching an interim compromise deal at another eurozone finance ministers meeting on Monday.
Google Finance Stocks and oil are rallying on Thursday as oil looks to shake off two days of losses. Near 1:45 pm ET, the Dow was up 91 points, the S&P 500 was 17 points, and the Nasdaq was up 50 points. At these levels, stocks were near their highs of the day as the Dow closes in on 18,000 and the S&P 500 sits just about 10 points below its all time high. Markets were higher on Thursday though the situation in Europe between Greece and its creditors remains unsettled as the outcome of talks between eurozone finance ministers on Wednesday saw no agreements made between the two sides. The price of West Texas Intermediate crude oil was up better than 4% to trade near $51 a barrel. The last couple days had seen oil best stocks to trade now slip, falling to near $48 a barrel. In economic news, the January report on retail sales disappointed, with headline sales falling 0.8%, more than the 0.4% decline that was expected. The bright spot in the retail sales report was from restaurants and bars, which saw sales rise more than 11% over the same month last year. Initial jobless claims also disappointed, rising to 304,000 last week up from 278,000 the prior week. In stock news, American Express shares were down about 6% after the company said it would end its co-branding agreement with Costco effective March 2016. Tesla shares were also lower, falling more than 6% , after the company last night reported earnings and reported vehicle deliveries in the fourth quarter that disappointed. NOW WATCH: Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate More From Business Insider
KEEPING SCORE: The S&P 500 was flat at 2,088 as of 1:38 p.m. The index climbed as high as 2,094.80 in midday trading, surpassing its previous intraday high of 2,093.55 set Dec. 29. The Dow Jones industrial average was up five points, less than 0.1 percent, at 17,979.
Such is the fickle and counterintuitive nature of market psychology. The risk of interest rates rising from their 52-week lows established in January is now a very real threat to many fixed-income portfolios. That is not to say that you should immediately abandon bonds altogether they still play a vital role in a balanced asset allocation structure. Rather, it may make sense to start sniffing out area with less interest rate risk or other attractive characteristics.
Buying the largest, most liquid companies in an index is cost-effective, said Draper. EQAL is not even two months old and already has nearly $47 million in assets under management and charges just 0.2% per year. Watch the video below to see the full interview. To view past video interviews, visit our video section .
The chart below shows the one year price performance of VNQ, versus its 200 day moving average: Looking at the chart above, VNQ's low point in its 52 week range is $67.40 per share, with $89.27 as the 52 week high point - that compares with a last trade of $84.37. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average . Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Though the new fund seems pricier than other global products in the space, it seeks to offer exposure to countries with a strong relative momentum. Further, a combination of large cap and growth stocks provide a nice capital appreciation opportunity. This is especially true, as large caps tend to be the most stable in an adverse economic scenario while also offer capital appreciation in a booming market. And, honing in on growth securities in this capitalization level ensures higher returns.
The real estate internet portal in China said non-GAAP fully diluted earnings per ADS fell 2% to $0.21, exceeding the $0.14 average estimate from analysts polled by Capital IQ. Revenue rose 2.7% to $223 million compared to the $207 million consensus. Net income fell to $82.5 million or $0.94 per diluted share from $119.0 million or $1.27 a year earlier on higher cost of services and other expenses. Earnings per ADS fell to $0.19 from $0.25. For 2015, SouFun said it expects total revenue of $773 million to $780 million, missing the $824.5 million average estimate. SPDR S&P International Technology Sector ETF (IPK) was also unchanged.
We believe it represents another smart solution for Canadian advisors to help achieve their clients' objectives. Barry Gordon, President and CEO, First Asset Investment Management Inc. Call Options - An attractive risk adjusted approach Large capitalization energy producers are expected to be attractive long-term investments, but may exhibit significant price volatility for the foreseeable future. Accordingly, the Manager believes that an investment strategy which incorporates equal weighting combined with selling call options is a balanced approach that will offer the potential to capitalize on the sector volatility while retaining the upside on a significant portion of the portfolio. A similar methodology has been successfully applied by First Asset to a portfolio of the 25 largest North American technology companies. First Asset Tech Giants Covered Call ETF (TMX:TXF, launched in October 2011 ) has achieved compound annual total returns of 13.87% since inception to Jan 30, 2015 , and has an attractive distribution yield of 6.05% as at December 31 , 2014. First Asset Tech Giants Covered Call ETF (TXF) 1 year NXF.B NXF.D First Asset Energy Giants Covered Call ETF has closed the initial offering of its currency hedged and unhedged common class units and currency hedged and unhedged advisor units and these units will begin trading on the Toronto Stock Exchange ("TSX") today. First Asset - Smart SolutionsTM First Asset is an independent investment firm, focused on http://www.etftradingsignals.com providing smart, low cost solutions that address the real-world investment needs of Canadians - capital appreciation, income generation and risk mitigation. Rooted in strong fundamentals, First Asset's smart solutions strive to deliver better risk-adjusted returns than the broad market while helping investors achieve their personal financial goals. First Asset's comprehensive suite of 37 ETFs allow advisors to construct smart, well diversified and good risk adjusted client portfolios. This communication is intended for informational purposes only.
The legislation would overturn Obama's executive actions limiting deportations for millions here illegally and giving them the ability to work. Obama repeated his threat to veto the legislation and says he is confident he could uphold a veto over any attempts to override it. Obama says the debate has become an "abstraction" and the so-called "Dreamers" he met with "represent the best that this country has to offer." He says the House bill would see them deported, and he thinks that's wrong. Join the Discussion
There's turf issues between the committees of jurisdiction." OPIC's spokesman did not respond to an email seeking comment. A spokesman for the White House Council of Economic Advisers did not respond to three questions the AP posed in a telephone conversation about the plan. Norlen also said OPIC, which focuses on foreign development, is different from the other agencies, which are mostly focused on trade. "There's always the danger of watering down the rules and policies of one institution when you merge it with others," he said. Congress has said it supports streamlining government, but it's not clear whether lawmakers will support Obama's plan, which he also pitched, without success, in 2012.
The White Houses proposed budget cuts to the vaccine program come a day after GOP presidential hopefuls New Jersey Gov. Chris Christie and Sen. Rand Paul (R-KY) injected vaccines into the political debate ahead of 2016 by suggesting that parents should be able to choose whether or not to vaccinate their children. The remarkswhich contrasted with Obamas call for vaccinating kidsenraged the medical community, which overwhelmingly supports requiring children to be vaccinated in order to prevent outbreaks of deadly diseases. The remarks, as many doctors feared, also gave ammunition to the anti-vaccine crowd, which believes vaccines are linked to autism, a theory thats supported by exactly zero scientific evidence. Since then, other likely presidential contenders have weighed in.
That's a major assumption on Obama's part about the fate of the automatic cuts, part of the deal he struck with Congress in August 2011. Cost: $185 billion over 10 years. MEDICARE FEES There's a proposal to permanently fix a flawed Medicare formula that threatens doctors with an even bigger 21 percent fee cut. Lawmakers typically "patch" the formula for a year or two but hope for a long-term solution this year. Cost: $108 billion. REFUNDABLE TAX CREDITS A set of refundable tax credits tax refunds that go out to low-income people who don't owe federal income tax expire in 2017.
Republicans argue that the law has discouraged small business hiring, contributed to reduced work hours, imposed higher insurance premiums on many American families, and dented economic growth. Democrats counter that the Patient Protection and Affordable Care Act, as it is formally known, has expanded or made it easier for millions of uninsured to get health coverage since it became law in 2010. "I don't know whether it's the 55th or the 60th time that they are taking this vote," said Obama ahead of the House action. "But I've asked this question before: Why is it that this would be at the top of their agenda, making sure that folks who don't have health care aren't able to get it?" The answer "is very simple: the law is a disaster," House Majority Leader Kevin McCarthy shot back on the House floor. "We still can't afford its costs, and the American people still don't want it." The Obamacare strike-down is expected to fail in the Senate, where Democrats can use procedural blocking tactics to forestall a vote. Nevertheless, conservative Senator Ted Cruz has http://www.obamastudentloanforgiveness.net introduced the Obamacare Repeal Act.
Medicare Advantage has been subject to billions in real cuts for each of the last four years. These annual cuts have resulted in higher out-of-pocket costs and lost benefits for seniors across America," the groups interim executive director, Krista Drobac, wrote in a statement. Piling on billions more cuts will only do more harm to the 16 millions of seniors who count on Medicare Advantage for higher quality, more affordable health coverage, wrote Drobac, a veteran health care lobbyist. Unlike standard Medicare, in which doctors and hospitals bill for each service they provide, private Medicare Advantage plans and other managed care organizations are often paid a flat monthly rate for each patient using a formula called a risk score that estimates the health challenges facing individual patients. Basically, Medicare pays higher rates for sicker patients and less for people judged to be in good health.
Stocks have shown big swings back and forth throughout the first month of the New Year, although the major averages have remained largely rangebound. Earlier in the session, negative sentiment was generated in reaction to disappointing earnings news from some big-name companies. Chinese e-commerce giant Alibaba ( BABA ) is also posting a substantial loss after reporting third quarter sales that came in below analyst estimates. Meanwhile, shares of McDonald's ( MCD ) have shown a strong move to the upside on the day after the fast food giant announced the resignation of chief executive officer Don Thompson.
Dow Chemical and Coach about rose more than 4 percent after profit surpassed estimates. Revenue, however, lagged at both companies. Chinese Internet giant Alibaba fell 6 percent on weak sales. Price action has been mixed in recent weeks, with few individual groups clearly outperforming on our researchLAB market scanner.
Price action has been mixed in recent weeks, with few individual groups clearly outperforming on our researchLAB market scanner. Nonetheless, there appears to be strength emerging among oil refiners, wireless-tower stocks, and video-game makers. Commodities are mixed today. Oil rose fractionally, but gold, silver, and copper all fell more than 1 percent.
In a statement, S&P said its action, "reflects our view that some of the economic andbudgetary policies advocated by the newly elected Greek government, led by theleft-wing Syriza party, are incompatible with the policy framework agreedbetween the previous government and official creditors." 5. Layoffs at IBM have started. Business Insider's Julie Bort reports that layoffs at the company have started just a few days after the company flat-out denied a report that the company was going to lay off 100,000 employees. IBM has, however, said that it will take a restructuring charge equal to the lay off of thousands of workers. 6.
The promise to remain patient came even though the Fed upgraded its assessment of the economy, saying that activity has been expanding at a solid pace since its December meeting. While the Fed also said inflation is expected to decline further in the near term, the central bank still expects inflation to rise gradually toward its 2 percent target over the medium term. After failing to sustain an initial upward move, stocks showed a substantial downturn over the course of the trading day on Wednesday. The losses on the day extended the sell-off seen in the previous session, with the Dow falling to its lowest closing level in over a month. The major averages saw further downside going into the close, ending the session near their worst levels of the day.
CAH shares were flat. D.R. Horton (DHI) was up 6.23% after it reported Q1 results that beat the Street. D.R. Horton reported $0.39 per share, up from $0.36 per share a year prior, on $2.3 billion in earnings for Q1, versus the Street view of $0.34 per share on revenue of $2.1 billion, according to Capital IQ estimates.
As DIVA falls in this category, it should prove itself as an admired ETF if it is able to generate yield of around 5%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research?
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and its subsidiaries worldwide. About Charles Schwab At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity. More information is available at www.aboutschwab.com . Investors should consider the investment objectives, risks, charges and expenses of the funds carefully before investing. A prospectus, containing this and other information is available by calling 1-866-909-WISE.
In contrast, a regular bond ETF runs the risk of losing its original principal if interest rates go up, depending on the bond ETFs effective duration. [ How Defined Maturity ETFs Fit Into a Portfolio ] WBII has outperformed the funds blended benchmark by 1.59% (1.10% vs.-0.49%). From inception (8/27/14) through year-end (12/31/14) WBII also outperformed the funds blended benchmark 0.66% vs. -0.80%, according to WBI. Most importantly, WBII had low bear correlation (0.28) relative to the index, which helped to produce a Sharpe Ratio of 1.09 since inception.
homepage The advantages of purchasing real estate compared with standard stock investing is described briefly in the new video guide as well as what types of retirement accounts can be useful for investing. Investors who are seeking better returns in 2015 for IRA, 401K, Roth IRA or similar accounts can also benefit from the investment guide. "Our website is now one of the marketing strategies we're using to promote different ways of income generation that are available to national investors," said the source. The JWB company now has a more experienced account staff who are available by phone at (904) 677-6777 to help investors. This number can also be used to schedule a strategy session to learn if rental real estate is the right investment type for an investor in the U.S. or Canada.
Last week, the U.S. Treasury Department laid out the dos and don'ts of travel to the island nation. With the presidents executive order, U.S. airline carriers will be allowed to fly in and out of Cuba, not just as chartered flights. And individual Americans, not just tour groups, will be able to purchase tickets to come on those flights if they promise their visits are religious, cultural, family or charity based, and not just a beach romp. In Cuba, the atmosphere is upbeat, while everyone is skeptical that real change will happen fast, but nevertheless surprised at the progress.
Obama is expected to push a plan to increase taxes by $320 billion over 10 years on the wealthy by closing tax loopholes. The White House said the proposed fee on the biggest financial companies would make it more costly for them to borrow heavily. Read More Obama to focus on middle class in State of the Union "There's an awful lot of your viewers that over and over again said, 'If we'd only done Bowles-Simpson look at the shape we'd be in.' Bowles-Simpson proposed exactly these rates, exactly this structure on capital gains," Furman said. Democrat Erskine Bowles and Republican Alan Simpson unveiled a plan in late 2010 to cut the nation's ballooning budget deficit. It was never was implemented but often praised on both sides of the aisle. "The bank tax, [Republican] former Ways and Means chairman Dave Camp, he proposed a very similar tax on banks," Furman said.
That gloom is part of the reason Democrats fared so poorly in November's midterm elections - and why Obama's address on Tuesday will be delivered to the first GOP-majority Congress of Obama's presidency. The White House hopes that with improving approval poll numbers will come more unity among Democrats around Obama's agenda, which aides say can be reduced to three words: middle class economics. Obama tax plan: Cuts and hikes "It's important for us to find every single way that we can to provide some relief for middle class families because as the economy finally after six years gets to the point where people are beginning to feel it, we need to make sure we lean in so that folks have a little bit more money at the end of the week," said David Simas, the director of Obama's political office. That means proposing new tax breaks for married couples where each partner works, increasing the child care tax credit and offering two years of community college free to qualified applicants. The White House says those kinds of moves will help bolster middle-class Americans who aren't yet feeling the economic recovery, despite plenty of data indicating the country moving further away from the recession. But even as Obama finds himself more popular than he has been in months, his agenda appears to be facing its toughest challenge yet with Republicans in control of both chambers of Congress.
Not really: Supporters of a bank tax argue it makes sense to charge mega banks like Goldman Sachs ( GS ) for the fact they enjoy lower borrowing costs because everyone assumes the government would bail them out. Yet the tax Obama is now proposing wouldn't just be limited to those Too Big to Fail banks. It would hit the roughly 100 U.S. banks that have over $50 billion in assets, including regional lenders like Huntington Bancshares ( HBAN ) and Zions Bancorp ( ZION ). "This is a shotgun, not a bullet," said Ernie Patrikis, a partner at White & Case who used to be general counsel of the New York Federal Reserve.
Its about as dead on arrival as you can get. Republicans will argue raising taxes now would slow economic growth at go here a time the U.S. economy is just getting its footing. Related: How Obama lost the middle class I think the White House is going to try to embarrass the Republicans and try to make them look as if they defend the very wealthy," says Valliere. "Its purely politics. Purely politics? That's expected.
So far at least, it does not seem like Republicans have a strong answer to Obama's proposals, which the White House strategically put out over the weekend to dominate coverage leading up to the speech. Getty Images Read More Calculating the long odds for Chris Christie Mitt Romney, the 2012 GOP nominee who is looking at a 2016 bid, attempted to shift to a populist tone in remarks to Republicans in San Diego on Friday. But his efforts drew mostly mockery on social media from Democrats and Republicans who remember Romney's comments deriding the "47 percent" of Americans who rely on government largesse rather than contribute to economic growth. Romney, a private equity multimillionaire, is not the ideal vessel for a populist message of economic inclusion. Meanwhile, Obama in his speech will be attempting to gain the high ground in an effort to address the biggest economic failing on his watch, the fact that median household incomes actually fell close to 4 percent to $51,939 in 2013 compared to when Obama took office in 2009, according to census data. The numbers for the lowest earners are even worse.
Leahy and Durbin - along with Sen Debbie Stabenow , D-Mich., Sen. Sheldon Whitehouse , D-R.I., Rep Christopher Van Hollen, D-Md., and Rep. Peter Welch, D-Vt. - arrived Saturday to meet with Cuban officials, dissidents, and everyday citizens, and hear what they envision normalization to mean in their lives. After the State of the Union address, Assistant Secretary of State Roberta Jacobson arrives in Havana to negotiate the reopening of the U.S.
Fifty percent say they approve of the job Obama's doing as president, according to a Washington Post/ABC News poll released on Monday. That's the best Obama's fared since the spring of 2013, and it's the latest in a string of surveys showing Obama's ratings inching up, including a CNN/ORC poll from late December showing Obama at a 20-month approval high . Obama's State of the Union wades into 2016 Improving economic conditions have finally triggered more optimism in the country, the surveys show, though many Americans still say the nation's financial state is poor. Even as more people feel the benefits of a resurgent economy, there's still a persistent sense among Americans that it's not improving fast enough. The Washington Post/ABC poll out Monday showed 56% of Americans felt the country was on the wrong track - an improvement from the 70% who felt that way in 2013, but still reflective of a majority who aren't seeing much to crow about in the economic recovery. That gloom is part of the reason Democrats fared so poorly in November's midterm elections - and why Obama's address on Tuesday will be delivered to the first GOP-majority Congress of Obama's presidency.
The annual speech, the most important in the US political calendar, comes two years to the day of his scheduled departure from the White House in 2017, and the American president does not have an easy road ahead of him. Tuesday will mark the first time since his election in 2008 that Obama will address a Congress whose two houses are entirely controlled by his Republican adversaries. "Im not going to spend the next two years on defense; Im going to play offense," a defiant Obama told Senate Democrats, according to comments reported by the website Politico. His credo: It's time for Americans to benefit from the country's economic growth after years of decline. Unemployment has fallen below six percent, check this out the lowest numbers in over a decade.
None of Obama's proposalsfrom a hike in the capital gains rate to a tax on the 100 largest banks to free community collegeis likely to become law in a GOP Congress. But they will put pressure on Republicans to address inequality through something other than just across-the-board tax cuts that also benefit the already very wealthy. How Republicans deal with this issue will be a major theme of the 114th Congress and the 2016 presidential campaign. There remains an outside shot that the two parties could agree on some form of corporate tax reform in 2015. But it will be hard for Republicans to push an overall cut in the top rate of 35 percent without adding elements that would benefit working families, particularly if Obama continues to gain ground politically with his latest populist push. Read More Progressive Democrats and the 2016 conundrum If Republicans decide they need to cut a deal, some of what Obama proposes Tuesday night could find its way into a tax reform package.
All youve done is really antagonize the Republicans who see this for what it is. And I think you even further diminish the chances of getting anything done in the next two years. It's not just about what the President will say tonight that will hamper Congress in 2015 and 2016. Valliere points to "divisions within both parties." The GOP is dealing with the Tea Party hardline. There are differences among Democrats as well, says Valliere, as House Minority Leader Nancy Pelosi and Senate Minority Leader Harry Reid have spoken out against a free trade deal that President Obama supports. Get the Latest Market Data and News with the Yahoo Finance App Of course, there is always a chance for some reaching-across-the-aisle rhetoric tonight. Valliere says the President may make a push for the "war on terror," for example, or cater to Republicans by discussing free trade. But don't expect that to extend very far - especially not to the realm of taxes. And that's not a good thing, as far as Valliere is concerned: This proposal from the President is so blatantly partisan.
He appeared on " Squawk Box " ahead of President Barack Obama's evening State of the Union addressin which the president plans to propose an increase in taxes on the wealthiest Americans and a fee on large, highly leveraged financial firms to pay for tax cuts for the middle class. Obama is expected to push a plan to increase taxes by $320 billion over 10 years on the wealthy by closing tax loopholes. The White House said the proposed fee on the biggest financial companies would make it more costly for them to borrow heavily. Read More Obama to focus on middle class in State of the Union "There's an awful lot of your viewers that over and over again said, 'If we'd only done Bowles-Simpson look at the shape we'd be in.' Bowles-Simpson proposed exactly these rates, exactly this structure on capital gains," Furman said. Democrat Erskine Bowles and Republican Alan Simpson unveiled a plan in late 2010 to cut the nation's ballooning budget deficit. It was never was implemented but often praised on both sides of the aisle.
stocks are rising in early trading following two days of declines. Traders were encouraged Tuesday by a stronger-than-expected earnings report from the giant aluminum maker Alcoa late Monday. Energy stocks lagged the rest of the market as the price of crude oil continued to fall. The Dow Jones industrial average jumped 226 points, or 1.3 percent, to 17,869 as of 9:35 a.m.
And following these reports, economists could stocks to buy today barely contain their excitement. 2. Following the one-two punch of data suggesting an increase in wages and more job openings , Chris Rupkey at Bank of Tokyo-Mitsubishi said, "The labor market isn't just healing it is red hot with nearly 5 million jobs available. Slack in the economy isn't just going away; it's all but evaporated." Ian Shepherdson at Pantheon Macro said that since the financial crisis, the economy has really needed the small-business sector to normalize, and now it finally is. The next big economic report on the state of the labor market is the January 30 employment cost index. 3.
stock futures are firmly in negative territory. Major European markets are all declining by about 1% in early trading, with mining companies taking a major beating. Asian markets ended with losses. 4. Earnings and economics: JPMorgan Chase ( JPM ) and Wells Fargo ( WFC ) will report quarterly earnings before the opening bell.
Two new reports find the big decline in global personal computer sales is beginning to level off as tablet ownership becomes more common. Meantime, Credit Suisse upgraded Apple to"outperform" from "neutral" and raised its price target by $20 to $130 per share, citingstrong sales of iPhones. Another Fortune 500 company says it will pay it workers more. Health insurer Aetna ( AET ) says will raise the wages of its lowest-paid employees to $16 dollars an hour as the labor market tightens up. This follows similar moves by Starbucks ( SBUX ) and The Gap ( GPS ). Related: Paychecks finally making a comeback?
So its this fear of lower commodity prices leading to global deflation which is leading this nervousness, said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. The S&P energy index was down 0.7 percent, with shares of Exxon Mobil down 0.4 percent at $90. The Dow Jones industrial average fell 27.16 points, or 0.15 percent, to 17,613.68, the S&P 500 lost 5.23 points, or 0.26 percent, to 2,023.03 and the Nasdaq Composite dropped 3.21 points, or 0.07 percent, to 4,661.50. The losses extended the recent decline to a third day. The S&P 500 is now down 3.2 percent since its Dec.
Exit Recession Italy is projected to exit a recession for the first time in four years, and Spains gross domestic product will pick up, economists forecast. Dont sell on the weakness, said Marinelli, who helps manage 110 million euros ($130 million) of assets at Pentalpha in London. Theres probably going to be some kind of compromise, and Greece is less a systemic issue now than it used to be. Syriza, which has been leading polls, plans to seek a writedown on Greeces debt, an option that German lawmakers have said is not on the table. But they are ready to discuss relief with Greeces next government.
Non-GAAP net loss was $4.7 million or $0.15 loss per share, versus $4.4 million or $0.16 loss per share in the same quarter the previous year. The Capital IQ analyst estimate is for $0.18 loss per share. Revenue was $20.8 million, an increase of 10% compared to $18.9 million in the same quarter last year. Analysts were expecting revenue of $20.49 million. The company expects fiscal 2015 loss per share of $0.63 - $0.61 on non-GAAP revenue of $80.5 million - $81.0 million. The Street view is for a loss of $0.59 per share on revenue of $83.56 million.
Obama will also propose a bill that would prevent companies from selling student data to third parties. A White House official says Obama will unveil the proposals Monday during a speech at the Federal Trade Commission. The announcement is part of the White House's efforts to preview components of the president's State of the Union address in the lead-up to the Jan. 20 speech. The official was not authorized to be named and insisted on anonymity to discuss the proposed legislation ahead of Obama's announcement. In an exclusive interview with FOX Business, the National Security Agency director said he thinks the recent cyberattack on Sony could set a precedent for future attacks aimed at the U.S.
"Boyhood" captured the life of a boy as he grows from the age of six to when he turns 18. Director Richard Linklater, who also won a Globe for best director, used the same actor, Ellar Coltrane, to chronicle each year of the boy's life. Julianne Moore and Eddie Redmayne won best actor drama honors. Best comedy went to "The Grand Budapest Hotel," with acting awards in that category going to Michael Keaton and Amy Adams.
The Public Security said in a statement Monday that read this more than 1,000 tons of contaminated pork and 48 tons of cooking oil produced from the meat had been seized in the operation that began last year across 11 provinces. The ministry said the suspects belonged to 11 different syndicates who purchased pigs that had died of disease from farmers at cut-rate prices then processed them into bacon, ham and oil. It said the producers sourced the pigs by bribing government livestock insurance agents, several of whom were also sent for prosecution. A series of scandals in China have deeply undermined public trust in food safety. In an exclusive interview with FOX Business, the National Security Agency director said he thinks the recent cyberattack on Sony could set a precedent for future attacks aimed at the U.S.
The data added to speculation the Federal Reserve would be patient in raising interest rates, which could help non-interest-bearing gold. Global oil prices are at their lowest level since April 2009. Weaker oil prices tend to hurt gold as they reduce the need for gold as a hedge against oil-led inflation. But equity markets are taking a hit from persistent weakness in oil prices, fuelling the flight to safety. "Normally, lower oil prices are a negative for gold, but prolonged oil price declines may be fanning concerns that further losses could have a dislocative impact on the financial markets and oil-exporting economies," HSBC analyst James Steel said. "This is creating safe-haven demand for gold." Spot gold climbed to $1,228.20 an ounce, its highest since Dec.
In full control of Congress for the first time of Obama's presidency, they planned an all-out offensive against his policies on immigration, foreign policy and the environment. In a sign of their divergent paths, just as lawmakers arrive in Washington to start the new Congress this week, Obama was heading out of town. He planned to spend most of the week in Michigan, Arizona and Tennessee showcasing how his own economic policies are fueling the economic recovery. The State of the Union comes early this year, on Jan. 20, and it is Obama's first with Republicans in control of both House and Senate.
Agriculture: A new series of food safety rules is coming from the Food and Drug Administration in August it has to put out final rules to spell out safety standards at both http://www.obamastudentloanforgiveness.net human and animal food facilities. But thats just one of several new rules to watch. In April, the EPA is supposed to put out the final version of its Waters of the United States rule, which is supposed to clarify which lakes and rivers fall under its jurisdiction. Opponents are already calling it an example of big-government overreach, saying it would let the agency regulate everything from ditches that are dry most of the year to low-lying areas of fields that collect standing water. And yes, there are organic pet food standards on the way the Department of Agriculture is expected to release a proposed rule in April. (Nothings going to be final until August 2016.) Transportation: Congress will have to come up with a new extension of the Highway Trust Fund early in 2015.
Obamas first meeting with a foreign leader in the new year. Mexican officials say Mr. Pe na Nieto will thank Mr. Obama for taking executive action in November to grant deportation amnesty to nearly five million illegal immigrants in the U.S., many of whom are Mexican. The administration also has been urging Mexican officials to help stem the flow of illegal immigrants from central American countries via a network of smugglers operating in Mexico . The two leaders are also likely to discuss other security issues, with the embattled Mexican president facing street protests over his handling of the massacre of 43 students who were abducted in September by a drug gang working with corrupt police in the city of Iguala.
think tank is urging President Barack Obama to ramp up efforts to win support for a pan-Pacific trade pact, saying without it Asian nations will be skeptical of the administration's foreign policy pivot toward the region. The Center for Strategic and International Studies said Monday if Obama work can with Republicans and address divisions within his own Democratic party over the Trans-Pacific Partnership, or TPP, legislation to facilitate the pact could be passed midyear. It says that could enable conclusion of TPP this fall. Since November elections that saw Democrats lose control of the Senate, Republican leaders have identified trade as a potential area of cooperation with Obama, but divisive politics and strong opposition among Democrats and labor unions still stand in the way of a deal. Politics & Government
President Barack Obama during a plenary session at the G-20 summit on November 15, 2014 in Brisbane, Australia. and Great Britain have often shared a strong personal relationship, even if they're on opposite sides of the political spectrum, and lately British Prime Minister David Cameron may be feeling more comfortable with President Barack Obama than with his European counterparts. In fact, Cameron told the Daily Mail , when Mr. Obama telephones, he calls him "bro." The "Dude" map In the interview with the Daily Mail, Cameron said of their closeness, "The president has said the special relationship is stronger than it has ever been privately and in public, and I agree." The Daily Mail prefers "bro" to the "Yo, Blair," overheard on an open mic on former President George W. Bush to former Prime Minister Tony Blair at a Group of Eight summit in 2006. The newspaper characterized Mr.
markets with a pop. Here are the 4 things you need to know before the opening bell rings in New York: 1. Futures bounce: U.S. stock futures are pointing to modest gains to kick off Wednesday's session. This year the Dow Jones industrial average is trading up nearly 9%, the S&P 500 has gained about 13% and the Nasdaq has rallied by more than 14%.
soared more than 193 percent to $18.14 on heavy volume after it said data from a mid-stage study http://www.todayhotstocks.com suggested that a higher dose of its Parkinsons drug could provide an alternative to treatments that require surgery. Civeo Corp., which provides temporary housing for oilfield workers and miners, late Monday slashed its workforce and forecast revenue could fall by one-third as slumping crude prices force oil producers to cut costs. The stock plunged 52.6 percent to $3.92 on volume of about 56.2 million shares, the most active day in its history. Volume was light, with about 4.42 billion shares traded on U.S.
25, economic data continues to improve in Europe. Today, for instance, Italian manufacturing confidence rose for a third straight month and the region's central bank cited increased lending. Commodities are mixed today. Oil fell half a percent and natural gas is down more than 1 percent, while metals are fractionally higher.
In comments on CNBC following the report, Yale professor Robert Shiller and one half of the Case-Shiller team, said the housing market in San Francisco looks "a little bubbly." 2. We got the final reading on consumer confidence for 2014, with the Conference Board's consumer confidence index coming in at 92.6, up from 88.7 last month but still a bit below expectations. Following the report, the Conference Board's Lynn Franco said, "Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions. As a result, the Present Situation Index is now at its highest level since February 2008." 3. It was a historic day on the floor of the New York Stock Exchange, as UBS floor director Art Cashin rang the opening bell to celebrate 50 years (!) since he joined the floor of the exchange.
Stocks opened the day lower but were trading in a narrow range as volume is light as we're sandwiched between the Christmas and New Years holidays. Here's the quick drop. . Google Finance Overall, it's a quiet day in the markets, but on Tuesday we did get two pieces of economic data, first from the housing sector and then from consumer confidence.
Semiconductor ETFs SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were flat in pre-market trading . Carbonite (CARB) confirmed late to learn more Wednesday that it has received and will review an unsolicited $15-per-share tender offer for the acquisition of all its outstanding shares of common stock from Internet-services provider j2 Global (JCOM). Earlier on Wednesday, j2 Global had announced its intent to make the offer. It recommended that shareholders don't take action before the review is complete.
Bullion jumped on short covering amid thin market conditions, raising questions about whether the gains can hold. Liquidity has been thin due to the Christmas and year-end holidays. Gold prices were also buoyed on Friday by news reports that China, the world's top consumer of gold, was considering a policy change to reinvigorate the economy by allowing banks to have more money available for lending and investment. Bearish sentiment in the bullion market was evident in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund. The fund's holdings fell 0.08 percent to 712.30 tonnes on Friday, a six-year low.
fell 0.7% after reporting online revenue of more than $15 million for its comedy "The Interview," even as traditional box-office receipts totaled less than $3 million between Thursday and Sunday. The Tokyo market also reacted to the Cabinet's passage of almost $30 billion in stimulus. While the package includes measures to bolster smaller businesses hurt by the falling yen, it also contains public works projects for rebuilding disaster-hit areas. Construction-company shares trended higher early Monday, with Obayashi Corp. up 1%, and Kajima Corp. gaining 0.6%.
But the company said Sunday that heavy traffic might continue to cause problems for customers seeking to play their favorite games. A group of hackers called Lizard Squad or someone claiming to speak for it took credit for the disruptions. In a blog post Saturday night saying service had been restored, Sony vice president Catherine Jensen added that "PlayStation Network and some other gaming services were attacked over the holidays with artificially high levels of traffic to disrupt connectivity and online gameplay." Microsoft's Xbox Live service, which also went down Thursday, was back online Friday, although the company reported continuing problems. One has to wonder whats going to happen when U.S. markets grow up and realize there is no Santa Claus. Industries
15, the report said. The company is also telling executives to tighten their belts, swapping limousines for taxis, and has dropped a lavish Christmas party for Wall Street analysts. KO shares were up 0.1% pre-market. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.
Experts did away with the recent notion that ETFs are a better investment than betting on individual stocks on Wednesday. David Nelson, chief strategist of Belpointe Asset Management, a Greenwich-based wealth management firm, said investors should shift attention back to individual stocks from overall indexes. "We're past the time of index investing," he said in an interview on CNBC's "Closing Bell." "All the liquidity (the Fed) pumped in brought up the bad with the good, and we're seeing less of that." Read More 10 rookie ETFs that raked in the 2014 cash Peter Costa, president of Empire Executions, a New York City-based trading firm, said in the same interview he agreed with Nelson's analysis. "In a growing market, everyone's a genius," he said. "When the market starts selling off, that's when bottom-down research becomes very important." Read More Are these ETFs cutting-edge or just plain crazy? Both men agreed that stock picking would be the best way to invest in 2015, but their approach in picking stocks deviates.
No matter the lineup of choices available, investors are flocking to these passive and top etfs to buy now active strategies to capitalize on their low-cost , diversification, transparency, and other unique qualities. While the ultimate outcome for stocks, bonds, and commodities in 2015 is up for debate, one thing you can count on is that the ETF product lineup will be bigger and stronger 12 months from now. The New Year will offer up several interesting new trends that ETF investors should take note of and ultimately may consider for inclusion in their portfolios. Ultimately, there are only so many ways you can slice and dice a subset to securities in the quest to market new investment opportunities. 2014 marked a significant number of active and smart beta ETFs being released with several accumulating hundreds of millions in assets.
While these measures should boost the stock market rally, a flush of liquidity is having an adverse impact on the currency, the Euro. The currency lost about 8% (as of December 12, 2014) against the greenback in the last six months. The plunge was more prevalent given the dollar's strength during the said phase. Thanks to the Euro slide and the possibility of a strong dollar following the probable hike in interest rates next year, investors are starting to embrace currency-hedged ETFs in droves. There isn't anything more unfortunate than seeing one's otherwise impressive portfolio choices fail because of soft foreign currency (read: Hedged European ETFs in Focus: Best Choice for Europe Now? ).
The minimum wage in neighboring Oregon will rise to $9.25, the second-highest in the nation. The Times reports that Washington makes an annual cost-of-living adjustment to its minimum wage each year. The state's Employment Security Department says the pay bump which will total $312 per year for full-time workers will affect more than 67,000 workers. Washington and Oregon, along with 18 other states, are set to increase their minimum wages on New Year's Day, according to the nonprofit National Employment Law Project.
This is especially true as investors continue pouring their money into the equity ETFs on rising confidence in the U.S. economic growth, accelerating job market, renewed optimism in housing recovery, low interest rates, low energy prices, healthy corporate earnings, and a flurry of merger & acquisition activities (read: Give Special Thanks to These 3 ETFs). Further, the U.S. has enjoyed back-to-back quarters of strong growth not seen in more than a decade.
He told Candy Crowley that, had he been in contact with Sony execs, he could have personally reached out to the theater chains that dropped the film after hackers threatened a 9/11-style attack. "I was pretty sympathetic to the fact that they have business considerations that they got to make," Obama said about Sony."Had they talked to me directly about this decision, I might have called the movie theater chains and distributors and asked them what the story was." > Obama said he does not consider the hack to be an act of war. "I think it was an act of cyber vandalism that was very costly, very expensive," he said. "We take it very seriously. We will respond proportionately, as Isaid." In a Friday press conference , Obama said Sony "made a mistake" by shelving the film and that the studio execs should have "spoken to me first. John McCain also appeared on CNN on Sunday, where he referred to last month's Sony hack as a "manifestation of a new form of warfare." On Friday, the FBI announced that North Korea was responsible for thecyberattack.
On Saturday, Cuban opposition leaders in Miami joined Cuban-American politicians and activists, pledging to oppose Obama's plan. Cuban President Raul Castro , speaking to his National Assembly, said that Cuba would not renounce its communist system despite the normalization of ties with the U.S. He paraded three convicted spies just released from U.S. prison, and they shook their fists in victory in front of parliament. Obama said it's wrong to accuse him of letting dictators outmaneuver him, citing Russian President Vladimir Putin as an example.
In the CNN interview, Obama said he was sympathetic to Sony's business considerations but stuck to his argument that the entertainment company had made a mistake. "Had they talked to me directly about this decision, I might have called the movie theater chains and distributors and asked them what that story was," he said. Obama said an important free speech principle was at stake. "If we set a precedent in which a dictator in another country can disrupt, through cyber, you know, a company's distribution chain or its products and, as a consequence, we start censoring ourselves, that's a problem," he said. He called on the U.S.
"It is contrary to our values." Related: Obama calls alleged North Korea hacking vandalism, not war The President's comments follow a flurry of executive action at the start of what he called his "fourth quarter" in the Oval Office -- after Republicans walloped Democrats in November's midterm elections, taking control of both houses of Congress. After the election, Obama quickly announced an overhaul of U.S. immigration rules and new regulations aimed at curbing environmentally-harmful emissions. He followed those moves this week with a deal that represented the biggest steps to thaw http://www.obamastudentloanforgiveness.net the economic freeze with Cuba in decades. The Guantanamo Bay, Cuba detention facility -- which Obama pledged to shut down as part of his 2008 campaign, but saw his plans thwarted when Congress passed a law prohibiting him from doing so -- could be another target ripe for executive action. Obama's year-end message: North Korea Cuba and Congress Obama has transferred many of the detainees housed at that facility to other countries in recent months, and said Friday he'll continue trying to do that, since Congress won't allow him to shift those detainees into federal Supermax facilities within the United States.
Investigators: Hackers stole Sony passwords Obama shot back, saying: "I was pretty sympathetic to the fact that they have business considerations that they got to make. Had they talked to me directly about this decision, I might have called the movie theater chains and distributors and asked them what the story was." The President told Crowley that his problem wasn't with Sony specifically, but with the precedent the company's decision set. The FBI on Friday pinned blame on North Korea for a hack into Sony's computer systems. Obama said both foreign governments and hackers outside government present cyberthreats that are part of the modern business landscape. "If we set a precedent in which a dictator in another country can disrupt through cyber, a company's distribution chain or its products, and as a consequence we start censoring ourselves, that's a problem," Obama said.
Obama promised to shut the internationally condemned prison when he took office nearly six years ago, saying it was damaging America's image around the world. But he has been unable to do so, partly because of obstacles posed by the U.S. Congress. "I'm going to be doing everything I can to close it," Obama said on CNN's "State of the Union with Candy Crowley," program in an interview taped on Friday. "It is something that continues to inspire jihadists and extremists around the world, the fact that these folks are being held," he said.
Locals and foreign investors from outside the Arab world were net buyers despite the prevailing negative sentiment. Duncan Chard | Bloomberg | Getty Images Watching financial data on screens inside the Dubai Financial Market. The latest slide erased almost all gains for what until recently has been a remarkable year for the Dubai Financial Market (DFM). As late as September the benchmark was among the world's best performing equity markets. Read More Dubai defends its title as best-performing market Since the fateful November 27 meeting of the Organization of Petroleum Exporting Countries, when it decided to maintain its oil production levels, the more index has lost more than a quarter of its value.
Duncan Chard | Bloomberg | Getty Images Watching financial data on screens inside the Dubai Financial Market. The latest slide erased almost all gains for what until recently has been a remarkable year for the Dubai Financial Market (DFM). As late as September the benchmark was among the world's best performing equity markets. Read More Dubai defends its title as best-performing market Since the fateful November 27 meeting of the Organization of Petroleum Exporting Countries, when it decided to maintain its oil production levels, the index has lost more than a quarter of its value.
Japan unexpectedly slipped into a recession this year, dealing a blow to Abe's much-vaunted Abenomics economic revival strategy. Tokyo's Nikkei index declined by 1.6% Monday. Related: Fear & Greed Index 3. Australian hostage situation hits markets: The main Australian index was down by 0.6% Monday as markets reacted to a hostage situation at a cafe in Sydney.
"The fact that many continue to doubt whether Mr Abe is capable of delivering a successful economic strategy goes a long way toward contributing to the subdued price action. This only means Abe has to be even more aggressive to prevent failure." SYDNEY SIEGE: A hostage situation is unfolding inside a cafe in Sydney, Australia with the nation's prime minister saying it may be "politically motivated." Five people have been able to flee from the cafe in downtown Sydney where a gunman took an unknown number of hostages at the height of Monday morning rush hour. Two people inside the cafe were earlier seen holding up a flag containing an Islamic declaration of faith that has often been used by extremists, raising fears that a terrorist incident was playing out in the heart of Australia's biggest city. ASIAN SCORECARD: Japan's Nikkei 225 closed down 1.6 percent at 17,099.40.
We dont see central banks as being in a position to appease markets at the moment. About $2 trillion was erased from the value equities across the world last week as oil prices slumped, raising concern over the strength of the global economy. West Texas Intermediate crude traded near a five-year low after losing 12 percent last week. Election, Tankan Japan s Topix index declined 1.5 percent to its lowest close since Nov. 17. Prime Minister Shinzo Abes ruling coalition won more than two-thirds of the 475 seats in lower-house elections seen as a referendum on his economic policies after the country entered recession after a tax increase in April.
Plus, Eaton Vance Corp. (EV) received regulatory approval by the Securities and Exchange Commission (or SEC) to launch nontransparent, actively managed ETMFs (exchange-traded managed funds). Consolidation in ETFspace With the increasing number of banks and asset managers entering into ETFs by taking over smaller, existing players, the industry for ETFs seems to be in consolidation mode. In such a situation, original site smaller niche players such as WisdomTree Investments, Inc. (WETF) can be next in line to serve as targets of such acquisitions.
Radioshack (RSH) was down 3.92% after the struggling consumer-electronics retailer posted a wider-than-expected fiscal Q3 loss and said it would cut more costs even as lenders have yet to agree to a plan to close more stores, raising concerns the company may be headed for bankruptcy. Earlier this year, the company unveiled plans to close up to 1,100 U.S. stores, but lenders have yet to agree to that plan. In its 10-Q report filed Thursday, the company warned "if we do not improve our cash flow from operations and refinance our existing debt, we may not have enough cash and working capital to continue to fund our operations beyond the near term, which raises substantial doubt about our ability to continue as a going concern." The company had also given a warning about its ability to continue as a going concern in September, but investors had hoped an agreement over store closures would be reached with the lenders by now.
Assets : $325.2 million Objective : The First Trust S&P REIT Index Fund tries to reflect the performance of the S&P United States REIT Index, which is comprised of real estate investment trusts, excluding mortgage, timber and prison ETFs. Holdings : Top holdings include Simon Property Group (NYSE:SPG) 8.2%, Public Storage (NYSE:PSA) 3.9%, Equity Residential (NYSE:EQR) 3.8%, Health Care REIT (NYSE:HCN) 3.5% and Prologis (NYSE:PLD) 3.1%. What You Should Know : First Trust sponsors the ETF. FRI has a 0.50% expense ratio.
In the end, we are bottom-up stock pickers who use a unique stock-picking and portfolio management system, and we will always maintain a long-term, disciplined focus when running the portfolio. 9.) How should the individual investor approach this ETF? This ETF will always be 100% invested in the stock market. Because of that, it is appropriate for individuals who understand that the stock market is the best vehicle available to build long-term wealth, but who also understand that there will be inevitable ups and downs along the way -- and that staying the course during them is the key to long-term investing success. So this ETF is not for the risk-averse investor, but we think it can be a great long-term vehicle for investors who understand the risks of the stock market and who believe in following strategies that have proven themselves over time.
The firms flagship fund, the IQ Hedge Multi-Strategy Tracker ETF (QAI), has come to be known as the S&P 500 (SPY) (IVV) (VOO) of the hedge-fund market. IndexIQ is well known for its alternative investment strategies. The company also serves as an ETF strategist, providing models and separately managed accounts to advisers. IndexIQs ETF offerings With $1.5 billion overall assets managedin a dozen funds, IndexIQ has 13 ETFs commanding ~$1.3 billion, including its well-known IQ Hedge Multi-Strategy Tracker ETF (QAI). IndexIQs offerings give investors access to liquid alternative products typically reserved for institutional and high-net-worth investors. The QAI attempts to replicate the risk-adjusted return characteristics of hedge funds using various hedge fund investment styles.
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"Tell the chef, the beer is on me."
"Basically the price of a night on the town!"
"I'd love to help kickstart continued development! And 0 EUR/month really does make fiscal sense too... maybe I'll even get a shirt?" (there will be limited edition shirts for two and other goodies for each supporter as soon as we sold the 200)