U.S. stocks rallied for a fourth straight week, sending benchmark indexes to record highs, as data showing confidence improved among consumers and small businesses fueled optimism in the world’s largest economy.
U.S. stocks fell, ending four days of records for the Standard & Poor’s 500 Index, amid disappointing economic data and after a Federal Reserve official said the central bank may slow the pace of stimulus as early as this summer.
Almost three years ago, when Goldman Sachs Group Inc. paid $550 million to settle fraud accusations by the Securities and Exchange Commission, one of the claims was that Goldman misled the bond-insurer ACA Financial Guaranty Corp. in a horribly complex deal named Abacus.
Are the easy-money policies of the world’s central banks setting financial markets up for a crash? We would have a much better idea if we measured how much of the buying is being done with borrowed money.
U.S. Senator Elizabeth Warren has questioned three more federal agencies’ enforcement practices by asking if they’ve studied the costs of favoring settlements with big financial firms over taking them to trial.
Joey Griffiths grew up in the western New York town of Dunkirk and left home at 17. Now he’s 30 and working as a bill collector in Jackson Heights, Queens. He has bills of his own to pay. Says Griffiths: “I’m good at collections because I understand what they’re going through. Just surviving.”
U.S. stocks rose, after the Dow Jones Industrial Average climbed above 15,000 for the first time yesterday, as earnings forecasts from Whole Foods Market Inc. and Electronic Arts Inc. beat analyst estimates.
The Standard & Poor’s 500 Index will extend its record rally as the U.S. central bank continues using economic stimulus as a way to reduce unemployment, according to Scott Black, president of Boston-based Delphi Management Inc.