Bills Yielding Zero as Stocks Soar Give Investors Bernanke Moment of 1938 For the first time in seven decades,
Treasury bills are paying no interest while stocks continue to
appreciate -- a divergence in U.S. financial markets that might
be perilous if Federal Reserve Chairman Ben S. Bernanke didn’t
know all about 1938.
Caterpillar Beating Komatsu as Dow Industrials Soar on Dollar Index Drop For the first time since the equity
rally began in March, the biggest U.S. stocks are beating the
smallest as the dollar’s descent sends investors to companies
with the most business in international markets.
Existing U.S. Home Sales Jump to Highest Level Since 2007 on Tax Incentive Sales of existing U.S. homes jumped
10 percent in October to the highest level since February 2007
as Americans rushed to take advantage of a tax credit, cheaper
properties and lower mortgage rates.
Housing Recovery in U.S. Set Back to 2010 With Market on `Life Support' A recovery in U.S. housing will
have to wait at least until next year.
Rangel Says House Democrats Will Seek to Renew Expiring U.S. Tax Breaks New York Representative Charles
Rangel said House Democrats will move next month to renew dozens
of tax breaks before they expire at year’s end, including a
research credit promoted by companies such as Dow Chemical Co.
Meredith Whitney Says Bank Stocks Are `Grossly' Overvalued Meredith Whitney, the analyst who
has no “buy” recommendations on U.S. banks, said valuations on
lender stocks are too high and what “scares” her most is the
government stepping away from buying mortgage-backed securities.
Lower Credit-Card Fees for Merchants May Raise Consumer Costs, GAO Says U.S. consumers may not save money
and could wind up paying higher credit-card costs if lawmakers
force payment networks including Visa Inc. and MasterCard Inc.
to cut fees charged to merchants, a government watchdog said.
Fidelity Says 401(k) Retirement Savings Accounts Recover From 2008 Decline Fidelity Investments said the
average balance on customers’ 401(k) retirement accounts has
returned to September 2008 levels on contributions and third-
quarter investment gains.
U.K. Royal Mint Quadruples Gold-Coin Output as Investors Chase Diversity The U.K.’s Royal Mint, established
in the 13th century, more than quadrupled production of gold
coins in the third quarter after demand for the metal increased
as investors sought to hedge against a weakening dollar.
Brazil `Buy' Ratings Sink to Record Low as Mobius Sees Commodity-Led Gains Emerging markets analysts are
cutting their “buy” ratings on Brazil to a record low as the
world’s biggest gains push equities to their priciest levels in
six years and the government adds taxes to slow the rally.
Wells Fargo to Repay $1.3 Billion to Clients Hit by Auction-Rate Collapse Wells Fargo & Co., the fourth-
biggest U.S. lender by assets, will repay as much as $1.4
billion to brokerage clients whose funds were frozen when the
auction-rate securities market collapsed last year, the bank
said in a statement.
Mobius Sees 40% Gain in BRIC Stocks, Says Investors Should Be Ready to Buy Mark Mobius said stocks in Brazil,
Russia, India and China are likely to rise by 30 to 40 percent
within three to four years as higher economic growth and lower
government debt spurs corporate earnings.
U.S. Variable Annuity Sales Drop for Sixth Straight Quarter as Prices Rise Variable annuity sales in the U.S.
declined for a sixth straight quarter as life insurers increased
prices on the equity-linked retirement products and bailed-out
companies scaled back.
IRS Amnesty Draws 14,700 to Disclose Secret Offshore Accounts, U.S. Says More than 14,700 Americans disclosed
secret offshore bank accounts to the Internal Revenue Service,
ensuring billions of dollars in new tax collections and data for
a crackdown on evaders, Commissioner Doug Shulman said today.
Wealthy Investors Lured to Independents as Brokerages Battle to Keep Them Steve Rose, a public relations
executive in New York, spent a year weighing whether to keep his
money at Morgan Stanley Smith Barney or switch to an independent
adviser. Last month he decided to make a move.
Buffett's Berkshire Discloses Holdings in Exxon Mobil, Nestle, Travelers Warren Buffett’s Berkshire Hathaway
Inc. took stakes in Exxon Mobil Corp. and Nestle SA, betting on
the world’s biggest producers of oil and food.
S&P 500 Index Is Poised to Recover 50% of Its Losses: Technical Analysis The Standard & Poor’s 500 Index
has surged to within 1 percent of recouping half the plunge that
followed its October 2007 record, a signal to some chart
analysts that the steepest rally since the 1930s will continue.
Hinde's Hedge Fund Advances 44% This Year After Dumping Equities for Gold Hinde Capital Ltd.’s hedge fund
gained 44 percent this year after selling its holdings in the
biggest mining companies to buy gold.
Stimulus Tax Credit Leaves 15 Million Americans Owing IRS, Inspector Says A $400 tax credit provided by the
economic stimulus plan may leave more than 15.4 million
Americans owing money to the IRS because of under-withholding
from their paychecks, an inspector general report said. The IRS
said the number will be far lower.
Highest P/Es Since 2002 Prompt Invesco to Buy Canada-France-Spain Bargain Canadian insurers, builders in Spain
and Paris-based Vivendi SA are enticing investors in search of
cheap stocks after the steepest equity market rally in 70 years.
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