Commentary: The Economy Has Hit Bottom
How’s the economy, you ask? I have the proverbial good news and bad news, but in this case, they’re exactly the same: The U.S. economy appears to be hitting bottom.
First, the good news. Right now, it looks like second-quarter GDP growth will come in only slightly negative, and third-quarter growth will finally turn positive. Compared [...]
Risks rise as liquidity inflates China stock prices
SHANGHAI (Reuters) – China’s stock market, up some 85 percent this year, owes its good fortune largely to loose bank lending and foreign speculators, leaving it awash with cash and lifting share prices above what economic reality can support.
The China Securities Regulatory Commission and other regulators have taken a series of mild steps to cool [...]
Buffett to CNBC: Invest in Stocks Even At Dow 9000
Warren Buffett tells CNBC that the economy still isn’t showing any signs of life but that doesn’t mean investors should stay away from stocks for the long-term.
In a live interview on Squawk Box this morning, Buffett says “business is still flat.” But he stresses that doesn’t mean he’s negative on stocks, predicting the market will [...]
Minimum wage set to rise to $7.25 on July 24
On Friday, the federal minimum wage rises for the third year in a row, sparking the perennial argument among economists: Will it help workers at the bottom of the ladder, or will it kill their jobs?
The U.S. minimum wage goes to $7.25 an hour, from $6.55, according to the U.S. Department of Labor. Most states [...]
Microsoft raises specter of doubt on tech recovery
SAN FRANCISCO (Reuters) – The tech sector’s road to recovery just got a lot bumpier.
Microsoft Corp’s billion-dollar-plus revenue shortfall in its fiscal fourth-quarter abruptly dampened hopes that demand for PCs was on the mend and sent a spate of tech stocks tumbling after-hours on Thursday.
While Wall Street has rallied on better-than-expected quarterly results from chipmakers [...]