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Weak

Exchange-traded funds entering new phase of growth

May 16, 2013 By Leave a Comment

The headlines about exchange-traded funds suggest there are no limits to the growth of these low-cost, easily traded alternatives to mutual funds.

Among the recent developments: ETFs have attracted at least $100 billion in new cash for each of the past six years, growing at a far more rapid pace than traditional mutual funds. ETF assets have doubled over the past three years to $1.4 trillion, with one study projecting they'll hit $3.5 trillion by 2016. ETFs have recently begun to appear as investment options in 529 college-savings plans and 401(k)s.

Yet obstacles are beginning to appear. It has become more difficult for fund companies to launch ETFs that are significantly different or lower-cost than what's already on the market.

"We're close to a tipping point in terms of numbers," says Todd Rosenbluth, director of ETF research at S&P Capital IQ. [Read more...]

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Poll: Benghazi, IRS, AP scandals

May 15, 2013 By 38 Comments

Three major topics/scandals at the top of the news this week are the Benghazi terror attack, the IRS targeting conservative groups and the Justice Department going after AP phone records. For me, the most important and scariest one of the bunch is the IRS targeting conservative groups. I find it very unsettling that the IRS can have so much power to freely do what they want to do. As for the other two topics/scandals, I'm not sure what to think, other than Obama just needs to speak the truth for a change. With that said, we wanted to have a quick poll to see....

Which of the three scandals are most important to you?

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As always, we would love to hear your thoughts. Please take a moment to vote on the poll and leave a comment with your thoughts.

Every Success,
Jeremy

 

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Stocks rise further as optimism prevails

May 14, 2013 By 1 Comment

Stocks pushed higher Tuesday as investors remained optimistic that economic growth is picking up, but not so much that the U.S. Federal Reserve will start to wind down its stimulus program imminently.

Over the past few weeks, investors have been picked up by a wave of optimism over a range of issues including the prospects for the U.S. economy following a run of forecast-busting jobs figures.

That has pushed several indexes to record highs. The Dow Jones industrial average and the broader S&P 500 index both hit new highs on Tuesday.

Waning fears over Europe's debt crisis and the bold attempt by Japan's monetary authorities to shake off a two-decade economic stagnation have also helped. [Read more...]

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Friday Poll: Has the market topped out?

May 10, 2013 By 7 Comments

With the market at all-time highs, is it ripe for a correction? What are your thoughts? Will we have a correction or will it keep moving higher?

Please leave a comment with your prediction of where you think the DOW, S&P 500 and NASDAQ will end the year.

Has the market topped out?

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Have a great weekend,
Jeremy

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U.S. medicine spending shows rare dip in 2012

May 9, 2013 By Leave a Comment

Spending on prescription medicines in the U.S. fell for the first time in decades last year, slipping as cash-strapped consumers continued to cut back on use of health care services.

Patients also benefited from a surge of new, inexpensive generic versions of widely used drugs for chronic conditions like high cholesterol, according to a new report.

Total spending on medications dropped to $325.8 billion last year from $329.2 billion in 2011. Likewise, average spending per person on medicines fell by $33, to $898 last year, according to the report from the IMS Institute for Healthcare Informatics.

"That's the first time IMS has ever measured the decline in the 58 years we've been monitoring drugs," Michael Kleinrock, director of research development at the institute, told The Associated Press. [Read more...]

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Morning Energy Commentary

May 7, 2013 By Leave a Comment

June crude oil was lower due to profit taking overnight as it consolidates some of the rally off April's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, April's high crossing at 98.06 is the next upside target. Multiple closes below the 20-day moving average crossing at 91.93 would confirm that a short-term top has been posted. First resistance is April's high crossing at 98.06. Second resistance is February's high crossing at 99.52. First support is the 10-day moving average crossing at 93.85. Second support is the 20-day moving average crossing at 91.93.

June heating oil was lower overnight as it consolidates some of the rally off April's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the February-April uptrend line crossing near 295.58 is the next upside target. Closes below the 20-day moving average crossing at 284.23 would confirm that a short-term top has been posted. [Read more...]

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U.S. economic reports hold out hope for hiring gains

May 2, 2013 By

Fewer people are losing their jobs. Employers are struggling to squeeze more work from their staffs. The U.S. is producing so much oil that imports are plunging, narrowing the trade deficit.

A string of data Thursday raised hopes for stronger hiring and U.S. growth in coming months. More jobs would spur spending and help energize the economy, which has yet to regain full health nearly four years after the Great Recession officially ended.

And an interest rate cut Thursday by the European Central Bank, if it helps bolster the European economy, could also contribute to U.S. growth.

The U.S. economic reports came one day before the government will report how many jobs employers added in April. Economists think the gain will exceed the 88,000 jobs added in March, the fewest in nine months.

The government said Thursday that the number of Americans applying for unemployment aid fell last week to a seasonally adjusted 324,000  the fewest since January 2008. Unemployment applications reflect the pace of layoffs: A steady drop means companies are shedding fewer workers. Eventually, they'll need to hire to meet customer demand or to replace workers who quit. [Read more...]

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Oil drilling technology leaps, clean energy lags

May 2, 2013 By

Technology created an energy revolution over the past decade just not the one we expected.

By now, cars were supposed to be running on fuel made from plant waste or algae or powered by hydrogen or cheap batteries that burned nothing at all. Electricity would be generated with solar panels and wind turbines. When the sun didn't shine or the wind didn't blow, power would flow out of batteries the size of tractor-trailers.

Fossil fuels? They were going to be expensive and scarce, relics of an earlier, dirtier age.

But in the race to conquer energy technology, Old Energy is winning. [Read more...]

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ECB cuts benchmark interest rate to 0.5 percent

May 2, 2013 By

European Central Bank President Mario Draghi isn't ruling out more central bank action to help the lagging eurozone economy even after the bank cut its key benchmark to a historic low.

Draghi said Thursday that the central bank for the 17 countries that use the euro would monitor all indicators and officials "stand ready to act if needed."

He did not specify what action might be taken but the remark appeared to leave open the possibility the ECB could cut rates even further.

The bank lowered its benchmark refinancing rate Thursday by a quarter-point to 0.50 percent at a meeting in Bratislava, Slovakia.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below. [Read more...]

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U.S. home prices rise by most in nearly 7 years

April 30, 2013 By

U.S. home prices rose in February compared with a year ago by the most in nearly seven years, as a growing number of buyers bid on a limited supply of homes.

The Standard & Poor's/Case-Shiller 20-city home price index climbed 9.3 percent in the 12 months ending in February. That's up from an 8.1 percent gain in January.

What are today's top 50 stocks? This free list will share the big market movers on a daily basis to help you find trading opportunities.

View this list for free now. [Read more...]

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