The Ticker

U.S. stocks dive again

U.S. stocks fell yesterday, with the S&P 500 posting its biggest three-day drop in two months, as investors bid down Internet stocks and rotated into defensive names to protect against further declines.

Internet stocks were among the day's biggest decliners with Amazon.com down 1.6 percent at $317.76 and Yahoo! Inc. off 3.5 percent at $33.07. The Global X Social Media ETF, which includes Groupon Inc. and LinkedIn, fell 2.5 percent.

The Nasdaq index posted its worst three-day decline since November 2011.

The Dow Jones industrial average fell 166.84 points, or 1.02 percent, to 16,245.87; the S&P 500 lost 20.05 points, or 1.08 percent, to 1,845.04; and the Nasdaq dropped 47.98 points, or 1.16 percent, to 4,079.753.

Consumer borrowing rises in Feb.

Consumer borrowing in the U.S. rose more than forecast in February, reflecting the biggest gain in automobile, school and other non-revolving loans in a year.

The $16.5 billion advance in credit exceeded all estimates in a Bloomberg survey of economists and followed a revised $13.8 billion gain in the previous month, Federal Reserve figures showed yesterday in Washington. The median forecast in the Bloomberg survey called for a $14 billion increase.

Gains in the labor market, home values and stock portfolios are contributing to healthier balance sheets and bolstering confidence. Income growth, along with improved credit scores, is giving consumers the wherewithal to take out loans for big-ticket purchases such as new cars, helping sustain spending.

Today

 Labor Department releases job openings and labor turnover survey for February.

 Senate Agriculture, Nutrition and Forestry Committee hearing on biofuels.

 Senate Finance Committee hearing on tax preparers.

 Senate Budget Committee hearing on tax reform.

 House Ways and Means Committee hearing on overhauling tax policy.

TOMORROW

 Commerce Department releases wholesale trade inventories for February.

 Federal Reserve releases minutes from March interest-rate meeting.

 Senate Judiciary Committee hearing on the proposed Comcast-Time Warner Cable merger.

THE SHUFFLE

Eastern Bank, a full-service commercial bank headquartered in Boston, announced it has appointed new trustees and corporators. The new trustees are Patricia "Pat" Maguire Meservey, of Salem State University and Kirk A. Sykes, president & managing director of Urban Strategy America Fund, L.P. New corporators are David C. Howse, executive director of the Boston Children's Chorus and Nancy Nangeroni, chair of the Massachusetts Transgender Political Coalition.

If your company has new hires or job promotions,
send along the info with a photo to bizsmart@
bostonherald.com.

Anda sedang membaca artikel tentang

The Ticker

Dengan url

https://bintanggugel.blogspot.com/2014/04/the-ticker.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

The Ticker

namun jangan lupa untuk meletakkan link

The Ticker

sebagai sumbernya