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U.S. Stocks Open Higher, Lifted by Strong Job Gains; China's Market also Climbs

08 Jan. 2016

Stocks were inching upward Friday morning as investors took encouragement from continuing job growth in the U.S. The market is coming off its worst day in more than three months.

The Dow Jones was up 38 points, or 0.2%, to 16,551 as of 10:15 a.m. Eastern time. The Dow had lost 392 points the day before. The S&P 500 index rose 5 points, or 0.3%, to 1,948. The Nasdaq composite climbed 27 points, or 0.6%, to 4,716.

Read full article from Los Angeles Times


Millennials Are Outpacing Everyone in Retirement Savings

07 Jan. 2016

Millennials have shown the greatest increase in their savings rate compared with any other generation, according to new data from Fidelity. The typical 20-something is now stashing away 7.5% of income vs. just 5.8% in 2013.

Generation X and boomers are still saving larger percentages of salary but have not stepped up their contributions by nearly as much.

Overall, Americans significantly improved their “retirement preparedness” score—a measure of how well people will be able to afford at least their essential expenses in retirement.

Read full article from Time



Strong U.S. Private Payrolls Data Point to Economy's Resilience

06 Jan. 2016

U.S. private companies added workers at a brisk clip in December, pointing to underlying strength in the economy despite signs that growth slowed sharply in the fourth quarter. Other data on Wednesday showed a slight moderation in services sector activity last month.

The trade deficit also narrowed in November as imports of goods fell to their lowest level in nearly five years, a sign of softening domestic demand amid an effort by U.S. businesses to trim bloated inventories.

Read full article from Reuters



Fed’s Williams Foresees up to Five Rate Hikes this Year

04 Jan. 2016

The Federal Reserve could raise interest rates as many as five times this year, according to San Francisco Fed President John Williams.

“I think something in that three-to-five-rate-hike range makes sense, at least at this time,” Williams said Monday in an interview on the cable news channel CNBC. The Fed in December lifted target interest rates for the first time since 2006. The Fed and the market continue to be split over how high rates will get this year.

Read full article from CNBC


IMF Chief Christine Lagarde Forecasts Disappointing, Uneven Global Growth in 2016

30 Dec. 2015

Managing Director of the International Monetary Fund (IMF) Christine Lagarde has reportedly warned that global growth is set to be disappointing next year. Lagarde made the comments as part of a guest column Wednesday in German newspaper Handelsblatt.

According to the IMF chief, the normalization of U.S. monetary policy and China’s shift to a consumer-driven economy were necessary and healthy, but stressed that they needed to be done as efficiently and smoothly as possible.

Read full article from International Business Times