Leo Grohowski News
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Company financial reports are showing little improvement in demand. The Federal Reserve’s third round of stimulus could boost prospects for faster sales gains in the second half of this year.
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With 72 percent of corporate earnings exceeding analysts’ estimates, it may be difficult for U.S. stocks not to reach a record in 2013.
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The highest-returning stocks of the bull market are trailing the Standard & Poor’s 500 Index in September as investors book profits, anticipating that Congress will let tax cuts on capital gains expire at year-end.
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U.S. stocks rose, following five- year highs for the benchmark indexes last week, after better- than-forecast earnings from companies including Travelers Cos. and Freeport-McMoRan Copper & Gold Inc.
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Bank of New York Mellon Corp., the world’s largest custody bank, hired Jeffrey Mortimer from Bainco International Investors as director of investment strategy for its wealth management unit.
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U.S. stocks fell for a third straight week, including the biggest one-day drop since 2008, as Standard & Poor’s reduction of the nation’s credit rating and Europe’s debt crisis fueled concern the economy will falter.
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The biggest decline for global equities in 15 months has left stocks at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally.
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Investors have pulled more money from U.S. equity funds since the end of April than in the five months after the collapse of Lehman Brothers Holdings Inc., adding to the $2.1 trillion rout in American stocks.
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Stock market bulls and bears agree on at least one thing. The highest valuations for makers of household goods since 2008 signal the best is over after the industry rose more than any other group this year.
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The 20 wealthiest people on Earth lost a combined $9.1 billion this week as renewed concerns that Europe’s debt crisis might worsen drove the Standard & Poor’s 500 Index to its largest decline of 2012.
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