S&P Hits 1,400 for First Time in Four Years
The stock market cleared another barrier Thursday in its long recovery from the Great Recession: The Standard & Poor’s 500 index closed above 1,400 for the first time since June 2008. The Dow Jones Industrial Average, driven higher like the rest of the market by more good economic news, set a four-year high. It [...]
Read MoreFacebook May Annoy Users With Mobile Ad Push
Aline Drucker Fornaris, a lawyer in Miami, is on the front lines of Facebook Inc.’s new effort to put advertising on mobile devices. When she logs on to the social-networking site from her BlackBerry or iPad, she sees ads for Caribbean travel deals and a local clothing boutique. Facebook used to only have ads in [...]
Read MoreGold Falls to 8-Week Low on ‘Ruined Hopes’ for Easing
Gold tumbled to an eight-week low Wednesday on speculation that the Federal Reserve will refrain from offering additional stimulus as the economy recovers. The Fed Tuesday raised its economic assessment and said the labor market is improving, reducing expectations that the bank will begin buying more bonds. Gold has surged more than 85 percent since [...]
Read MoreTurning the homeless into 4G hotspots
AUSTIN, Texas (CNNMoney) — It sounds like a headline from the The Onion, but it’s true: A project called “Homeless Hotspots” is turning homeless Austin residents into mobile wireless hotspots outside the South by Southwest convention center. It’s part marketing stunt, part genuine charitable initiative — and it’s generating lots of double-takes and chatter from those [...]
Read MoreGood jobs report means Fed should sit tight
NEW YORK (CNNMoney) — Repeat after me. There is no need for more QE. There is no need for more QE. There is no need for more QE. The strong February jobs report is a sign that the economy is continuing to steadily improve. When the Federal Reserve’s policy committee meets next week, it will hopefully [...]
Read MoreMeet the world’s richest people
NEW YORK (CNNMoney) — Say hello to the 0.00001%. Forbes Magazine released its annual “Billionaires List” on Wednesday, with Mexican telecom mogul Carlos Slim Helú retaining his status as the world’s richest person for the third year in a row. Slim checked in with a net worth of $69 billion, outpacing Microsoft (MSFT, Fortune 500) co-founder Bill Gates and his $61 [...]
Read MoreGas prices hover around $3.74 a gallon
NEW YORK (CNNMoney) — The nationwide average for gasoline prices hovered just above $3.74 a gallon Friday, according to the motorist group AAA. The average price of regular unleaded gasoline ticked up three-tenths of a cent in the latest 24-hour period, marking the 24th straight increase, AAA said. A month ago, the nationwide average [...]
Read MoreWall Street’s dead? Really?
Wall Street’s dead? Really? NEW YORK (CNNMoney) — Trading volume is anemic. Bonuses are down. Investment banking activity is sluggish. But instead of singing a requiem for Wall Street, investors are treating the big banks like they are rock stars. Shares of JPMorgan Chase (JPM, Fortune 500) are up more than 20% this year. Morgan [...]
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