Japanese exchange-traded funds, the most popular ETFs in the world this year, fell in U.S. trading as the Topix index posted the biggest drop since the aftermath of the March 2011 tsunami and nuclear disaster.
U.S. stocks climbed for a third week, pushing benchmark indexes to record levels, as companies from Walt Disney Co. to DirecTV beat earnings estimates and central banks worldwide stepped up monetary stimulus to boost growth.
U.S. stocks slid for a fifth day and Treasuries rose amid concern lawmakers won’t reach a budget deal to avoid the fiscal cliff of spending cuts and tax increases looming in January. Commodities slipped as the dollar gained.
Stocks jumped, sending the Standard & Poor’s 500 Index to the highest level in four months, as Cisco Systems Inc.’s sales topped estimates, U.S. building permits surged and speculation grew that Spain will get a bailout. Commodities rallied and the euro strengthened.
U.S. stocks fell for a fifth day, the longest drop for the Dow Jones Industrial Average since July, amid concern talks between President Barack Obama and Republicans may not produce a budget by the year-end deadline.
Rebecca Parrett , the former National Century Financial Enterprises Inc. executive who fled the U.S. to avoid a 25-year prison term, will face no new charges after her Oct. 26 arrest in Mexico, a U.S. official said.
U.S. millionaires would rather match the stock market through an exchange-traded index fund than try to beat it using higher-fee hedge funds or billionaire Warren Buffett’s holding company Berkshire Hathaway Inc.