Stocks plunged Wednesday after Federal Reserve Chairman Ben Bernanke said a stronger economy may allow the Fed to end its bond buying program later this year.
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The economic downturn has many older folks returning to work, while youngsters are simply giving up.
More people over age 65 either have jobs or are looking than ever before, The New York Times reports. But the participation of teens in the job force is down, perhaps because in this economy, more young people are either unemployed or have given up searching for work.
The flip took place around the end of 2008, according to the Bureau of Labor Statistics.
The famous annual festival in Spain has been hit by the country's economic crisis.
The annual festival celebrating the running of the bulls has been tempered this year, The Wall Street Journal reports. Spain is suffering an economic downturn that threatens to turn into a crippling recession, and people aren't so bullish on the bulls anymore.
Normally, nearby businesses pull in about half their annual sales during the Fiesta de San Fermines in Pamplona. But this year, business has slumped. Tourists are staying away, and the ones that did show tried to keep it on the cheap by buying alcohol in local supermarkets, writes Joe Parkinson.
Foreign banks got out of the business of these securities, but they're jumping back in now.
Foreign banks in particular pulled out of the business altogether after getting badly burned. But now, they're jumping back in because they have to stay competitive with American rivals, the Financial Times reports.
European and Japanese banks are aggressively hiring Wall Street traders, and setting them up in New York to concentrate on the American market. And so the cycle begins again.
Despite a slowdown in the US and Europe, luxury brands are in demand by Asia's fast-growing upper and middle classes.
By Jake Lynch, TheStreet
Luxury retailers may seem like the worst investments, given the prevalence of tightwad consumers, but the opposite is true for some companies.
Last week's "Best in Class" feature made the bullish case for jewelry seller Tiffany & Co. (TIF). The same for leather-ware seller Coach (COH) follows. The investment theses are comparable: Emerging-market demand, specifically in Asia, will offset developed-nation stagnancy this year.
Although America's economic dominance is weakening, its cultural hegemony is squarely intact. American luxury brands have cache in emerging markets, confirmed by Coach's latest commentary.
History shows that now could be a good time for optimism.
I've dived into history and the economy a lot lately in my recent columns and blog posts (with examinations of last week's big 3%+ up day as well as a look at the growth rate of the leading economic index or LEI). The takeaway: History suggests now is the time to be optimistic. In particular, there are some striking resemblances between the current situation and the 1962 summer stock market rebound.
Then, like now, the stock market dipped below its 50-day and 200-day moving averages and then posted a big 3%+ up move. Also, the LEI's 12-month growth rate remained in positive territory -- brushing off concern of a double-dip recession (the economy was recovering from the 1960-61 recession). Stocks went on to gain more than 32% over the next 12 months.
I'm not the only one looking at 1962 for clues to what lies ahead.
Playboy founder Hugh Hefner earlier offered to take his company private. With video updates.
Bell's bid is effectively $25 million more than Playboy founder Hugh Hefner's offer for the company, which would take it private
- Related:Bell's Letter to Playboy's Board
In making the offer, Bell and Boca, Raton, Fla.-based FriendFinder announced that they have retained Imperial Capital LLC as a financial adviser. (On Monday, Bell told TheWrap he would not need the help of a financial backer because FriendFinder generates enough cash on its own.)
A sobering new study shows Americans of all stripes are likely to exhaust their savings early.
By Joe Mont, TheStreet
For people stressed out because they might not have enough money saved for retirement, a study released this week by the Employee Benefit Research Institute will be of little comfort.
The study, based on an analysis of 24 million participants in 401k plans, is touted as the first time a national retirement model has projected when different groups, based on age and income, are likely to exhaust their retirement savings. The conclusion: "Dramatically high percentages of Americans -- even in the upper-income categories -- are likely to run short of money after 10 or 20 years of retirement."
Nearly half of "early" baby boomers -- those on the verge of retirement, ages 56 to 62 -- are at risk of not having sufficient income to pay for basic post-retirement expenditures and medical expenses. The percentage drops for "late" boomers (ages 46 to 55) to 43.7%. Generation X (born 1965-74) has a 44.5% chance of running out of money based on savings projections.
Shares of companies like Cisco and Hewlett-Packard typically rise in the day after their second-quarter reports.
By Robert Holmes, TheStreet
Some Dow ($INDU) stocks perform better than others after reporting second-quarter earnings results.
The following five Dow components have notched the biggest gains in the day after posting quarterly numbers in July and August over the past five years. History can be a guide, but nothing is a sure bet.
Shares of Alcoa (AA), typically the first Dow company to publish earnings every quarter, tend to fall after second-quarter results. The aluminum maker said Monday after the market closed that it swung to a second-quarter profit of 13 cents share, compared with a year-earlier loss of 47 cents a share.
The video-subscription company has made all the right moves. Some analysts say growth has just begun.
By Jason Notte, TheStreet
Netflix (NFLX) forced the closure of rival Movie Gallery, caused Blockbuster to implode and prompted retailers to streamline their approach to video sales en route to big-budget growth. Those were just the first items in the queue.
Netflix is getting five-star reviews from investors and catching the eye of larger competitors such as Time Warner Cable (TWC) and Comcast (CMCSA) based on how it handled last year's tough economic climate: Sitting it down and showing it movies from the comfort of its Blu-ray players, game consoles and smart phones.
While disc-based competitors struggled, with Movie Gallery declaring bankruptcy and liquidating its assets and Blockbuster closing nearly 1,000 stores and having its stock delisted from the NYSE as it struggled with debt, Netflix expanded its instant-streaming offerings and boosted the number of subscribers.
These up-and-comers are sure to strenghten your portfolio.
By Nancy Zambell, Editor of Buried Treasures Under $10
It’s becoming a bit of a broken record, but the refrain "another challenging month" does apply to the current market
There were a host of factors influencing stocks and keeping values down in June. However, with careful selection we can use the current volatility to make money. You see, there are plenty of fundamentally strong yet undervalued companies that the mainstream investment community hasn’t picked up.
Which stocks am I referring to? The following are my current top three undervalued stock buys.
Range Resources promises to disclose the chemicals it uses in fracking, adding transparency and value to the whole industry.
By Jim Cramer, TheStreet
Will they all follow Range Resources (RRC)?
In this already long, hot summer, the biggest bust of all commodities, and all things financial, is natural-gas futures. They can't get out of their own way. Of course, most of that is due to the glut that producers are generating as they hit pay dirt in various shales, bringing new gas on stream.
But the fuel and natural-gas companies have not helped the cause. They have become targets of environmentalists over fracking, the method of blasting with water sand and chemicals that breaks up the shale and allows the natural gas to be unleashed.
The chip-maker has a blowout quarter and has no intention of letting up on competitors.
When I last updated this stock back in April, after the company announced first-quarter earnings and an increase in gross margins to 63.4%, I wrote: "The company had been projecting gross margins of 58% to 64%. The increase in gross margins is the key piece of news in this report.
"To get margins up to that level, the product mix at Intel has had to shift toward a higher proportion of sales from more profitable server chips. Industry watchers have recently forecast a two-year cycle of big increases in server purchases as corporate customers upgrade their equipment. Intel seems to be signaling that it's going to ride that trend to higher margins for more than just the next quarter."
Giving every iPhone 4 user a bumper is the cheapest short-term way to fix the antenna problem.
Apple (AAPL), would you just give out free bumpers and make this all go away?
The company's ongoing reception problems with its new iPhone 4 can, in many cases, be solved by putting a $30 bumper case on the device. But as Consumer Reports and Information Week note, the user shouldn't have to pay to fix an Apple problem.
From a financial standpoint, it's clearly in Apple's best interest to give a free bumper to any iPhone 4 owner who wants one. Giving cases to 3 million people would cost $45 million, according to one analyst.
Chinese consumers flock to KFC, Pizza Hut and other distinctly American restaurants.
And that's great news for Yum Brands (YUM), the company that owns KFC, Pizza Hut and Taco Bell. The U.S. economy may be in the doldrums, but in China, a new KFC opens almost every day, CNNMoney reports.
American fast food has gone global, and the welcome has been better than executives could have hoped for. Yum Brands has the ambitious goal of opening 20,000 fast-food restaurants in China, writes Ben Rooney.
The shares are cheap, especially when you look at the stock's forward P/E.
Shares of Wal-Mart (WMT) -- like many of the items on its shelves -- are dirt cheap.
The stock is in the $50 range right now, having just rebounded from a low of around $48. And while that may not sound too cheap, consider that the stock is trading at a mere 11.4 times expected earnings for the next year.
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[BRIEFING.COM] Equities ended on their lows with the S&P 500 down 1.4%.
The S&P entered today's session with a week-to-date gain of 1.5% as investors expected reassuring words from today's Federal Open Market Committee Statement.
Stocks traded with slim losses until this afternoon's FOMC Statement and subsequent comments from Chairman Bernanke sent equities and Treasuries to their lows while also providing a significant boost to the dollar.
Today's Statement was ... More
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