GLOBAL MARKETS-Equities buoyed by Nikkei high, dollar edges up
Economists surveyed by MarketWatch had expected overall durable-goods orders to rise 2%. Todays stock-market coverage continues in Market Snapshot /conga/story/misc/indy_snap.html 284838 In other economic data, the Federal Housing Finance Agency said Tuesday that U.S. house prices rose 0.5% in October on a seasonally adjusted basis from the previous go month. Data on November new-home sales are due at 10 a.m. Eastern.
U.S. stock markets open higher on Christmas Eve; Dow up 0.2%
The simple strategy of buying U.S. stocks, selling bonds and staying out of international markets isn’t going to work as well as it has, they say. Some of Wall Street’s biggest money managers have come up with a few resolutions to help your retirement portfolio have a good year: Curb your expectations Few investors expected 2013 to be as big as it was. The S&P 500 index is up 28 percent for the year, its best year since 1997. Including dividends, it’s up 30 percent.
Stock Market Today: Apple Goes to China and Tiffany Books a Huge Loss
That followed a rise in Asian stock markets, where Tokyo’s Nikkei rose 0.1 percent to reach its highest closing level in six years. The MSCI world equity index, which tracks shares in 45 countries, was steady at 402.82 points, while the MSCI Emerging Markets equity index rose 0.3 percent. The MSCI global equity index has risen nearly 19 percent since the start of 2013, helped by injections of liquidity from the Japanese and U.S central banks and by signs the global economy is recovering from the 2008 credit crisis. Those central bank programmes have dented returns on bonds and cash, driving many investors over to the better returns available from equities. SteppenWolf Capital chief investment officer Phoebus Theologites felt equities would remain the favoured asset class for 2014.
Stock Market Resolutions for 2014
24 (Bloomberg) John Stoltzfus, chief market strategist at Oppenheimer & Co. in New York, says stock market gains will continue in 2014. Stoltzfus talks with Bloomberg’s Michael McKee and Scarlet Fu on Bloomberg Radio ‘s ” Bloomberg Surveillance .” (Source: Bloomberg)
Stoltzfus Says Stock Market Gains to Continue in 2014 (Audio)
The Commerce Department said earlier that total durable goods orders increased by 3.5% in November, easily surpassing expectations for a 2% gain. Core durable goods orders, excluding volatile transportation items, climbed by a seasonally adjusted 1.2% in November, above forecasts for a 0.6% increase. Orders for core capital goods, a key barometer of private-sector business investment, surged 4.5% last month, blowing past expectations for a 0.7% gain. Shipments of core capital goods, a category used to calculate quarterly economic growth, advanced 2.8% in November, significantly higher than expectations for a 1% gain.
Kingsford Capital Management Puts ‘Stock Market Bad Behavior’ on Holiday Quilt
Bernanke showered the stock market with presents over his term. First, it was QE1, followed by QE2, and then the third installment through QE3. It has been a wonderful upward ride in 2013. Imagine if I had told you back in January that the NASDAQ and S&P 500 would rise by more than 30% this year The majority of you would have thought I was on something, and really, we were: the Federal Reserve pumped so much money into the economy this year that the market developed a dependence on the cheap money as if it were cocaine.
The stock is down 3% in premarket trading. Finally, Darden Restaurants has another activist investor on its hands. Starboard Value recently bought a 5.6% stake in the struggling restaurant operator, according The Wall Street Journal. The fund plans to push for a bigger breakup of the company than just the spinoff or sale of the Red Lobster business that Darden announced last week.
Fed’s Move to Taper the Right Choice for the Stock Market in 2014?
Mr. Zell’s music boxes have become a status symbol in some corner offices, but some gifts are even more outlandish. A quilt that arrived in some investment offices earlier this month was hardly the handiwork of somebody’s aunt. Enlarge Image Among the 18 panels was one depicting a man appearing on TV dressed in a cartoonish black-and-white striped prison uniform and another panel showing a man smoking a bong. In the middle was the biblical phrase “Be Not Deceived.” It was wedged between images of a reindeer and a Christmas tree.