Markets responded positively Wednesday to minutes of the Federal Reserve's recent policy meeting which revealed that the central bank aims to keep interest rates low. This came as somewhat of a surprise to many investors and served to boost fragile investor sentiment. All three of Wall Street's major stock indexes closed the day up more than 1 percent, with eight of the ten Standard & Poor's 500 stock index sectors closing higher. The S&P 500 rose 20.22 points (1.1 percent) to close at 1,872.18, while the Dow Jones industrial average climbed 181.04 points (1.1 percent) to close at 16,437.18. The Nasdaq composite index increased by 70.91 points (1.7 percent) to close at 4,183.90. The day's biggest increases were among biotechnology and internet stocks.
Ranked as one of the S&P 500's top performers with first quarter earnings exceeding expectations, aluminum producer Alcoa climbed 47 cents (3.8 percent) to $13 per share. With a projected growth of only one percent from last year, first quarter overall earnings for S&P 500 companies are down from the estimated profit growth of 6.5 percent at the beginning of the year. With investors buying up embattled social media...
King Digital Entertainment IPO Disappoints - 27 Mar 2014 - Features
With a reported net worth of $76 billion, founder of Microsoft Bill Gates is back at the top of the annual Forbes Billionaires list, having held that position for fifteen of the past twenty years. Second on the list, CEO of Oracle Larry Ellison has a reported net worth of $48 billion, followed by Google CEO Larry Page at $32.3 billion. Fourth in line is Amazon founder Jeff Bezos with $32 billion, followed closely by Google's Sergey Brin with $31.8 billion and Facebook CEO Mark Suckerberg with $28.5 billion – an noteable comeback after Facebook's disastrous 2012 IPO. Interestingly, at number eight with a net worth of $17.5 billion is Michael Dell, who removed his company from the stock market in October 2013...
Wall Street Bonuses Cause a Stir - 13 Mar 2014 - Markets
Figures released Wednesday by New York State Comptroller, Thomas DiNapoli, revealed that bankers on Wall Street enjoyed an average increase of 15 percent on their annual bonuses for 2013. While this works out to an average bonus of $164,530 it should be noted that the bonus pool of $26.7 billion in 2013 includes all staff members, from the most junior to the most senior, and was reportedly padded out by compensation that had been deferred from previous years. Nonetheless, news of Wall Street banker bonuses climbing 15 percent while, for example, profits from NYSE broker-dealer operations fell 30 percent in 2013, lends credence to the call for regulators to tighten up on banks...
Comcast-TWC Merger Raises Consumer Concerns - 27 Feb 2014 - News
Comcast's $45 billion bid to acquire Time Warner Cable has raised a host of objections from various consumer and social action groups, with the main concern being that the merging of the two companies would dominate the cable television and broadband industry, edging out competition and leaving consumers with fewer choices. The combined company would have up to 33 million cable subscribers and close to that number of broadband users, a scenario which could give it the power it needs to influence networks with regard to licensing fees, as well has being able to set market rates on its products and services...
Hot Discussions On Our Forums
Forex Technical & Market Analysis FXCC Dec 20 2013 Forex Technical & Market Analysis FXCC Dec 20 2013 USA final GDP data for 2013 published expec...By forexlionz
Forex Technical & Market Analysis FXCC Dec 19 2013 Forex Technical & Market Analysis FXCC Dec 19 2013 After the USA FOMC taper tantrum focus now ...By forexlionz
Join our Forums
Latest News Videos
- First SEC Investor Advocate Appointed
- Thursday 13 February 2014 - Markets
- Fed's Tapering Process Continues
- Thursday 30 January 2014 - News
- Google's Buyout of Nest Raises Privacy Concerns
- Thursday 16 January 2014 - News
- Cautious Optimism on Wall Street for 2014
- Thursday 2 January 2014 - News
- Volcker Rule Set to Take Effect in April 2014
- Thursday 12 December 2013 - News
- Retailers Aim to Cash-in on Black Friday
- Thursday 28 November 2013 - News