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Top stories summarized by our editors
Top stories summarized by our editors

Advisors warn against spate of 401(k) withdrawals

1/30/2018

A number of advisors have expressed concern that the long-running stock market rally is tempting 401(k) savers to make withdrawals to spend on nonessentials, which may ultimately prove detrimental to their financial security. "I've seen more money requests for extraneous items in the last six weeks than I have in the last five years," said advisor Jamie Cox of Harris Financial Group.

Advisers warn against spate of 401(k) withdrawals

1/30/2018

A number of advisers have expressed concern that the long-running stock market rally is tempting 401(k) savers to make withdrawals to spend on nonessentials, which may ultimately prove detrimental to their financial security. "I've seen more money requests for extraneous items in the last six weeks than I have in the last five years," said adviser Jamie Cox of Harris Financial Group.

Trump lauds US growth, opportunities in speech

1/29/2018

"America is open for business" is the message President Donald Trump imparted in a closing speech at the World Economic Forum in Davos, Switzerland. Trump pointed to strength in the stock market and said the US will work toward "mutually beneficial" trade agreements.

China's Biel Crystal Manufactory reportedly delays $1.5B IPO

1/29/2018

China's Biel Crystal Manufactory, which makes the glass for screens in most iPhones, has decided to put off a $1.5 billion initial public offering until the third quarter, a source close to the deal said. The strength of the Hong Kong stock market has given the company confidence it has flexibility in timing the IPO and is free to bring it to market when it is in the best interest of the company, the source said.

Schwab Charitable oversaw $1.6B in grants last year

1/25/2018

Donor-advised fund Schwab Charitable processed more than $1.6 billion worth of grants to 71,000 nonprofits in 2017 on behalf of its donors. The DAF attributed its strong results to tax code changes and a stable stock market.

Americans' financial well-being continues upward trend

1/25/2018

Americans' personal financial satisfaction increased steadily throughout 2017, reaching a 24-year peak in the fourth quarter, according to the AICPA's Personal Financial Satisfaction Index. Stock market gains were the largest contributor to the increase.

Younger people investing conservatively, surveys show

1/23/2018

Surveys indicate that millennials might be investing more conservatively than they should be. A Fidelity Investments survey found that 16% of millennials have all their investments in cash, while a LendEDU survey found that 41% of millennials are forgoing investments in the stock market.

3 historic breakouts in the US stock market

1/23/2018

The way I learned it, the bigger the base, the higher in space. The first stock is Oracle, which broke out last year above the former highs from 2000. To me, this is evidence that the overhead supply going back 18 years has now finally been absorbed by demand and we are set up for a major leg higher. If we are above 46.50 in $ORCL, we want to be very aggressively long with a target above $70.

-- JC Parets, CMT

Economist warns about dangers of excessive US bond supply

1/22/2018

Plans to double the supply of US government bonds may cause demand to be exceeded and prompt adverse effects, such as wider credit spreads and falls in the dollar and stock market, warns Deutsche Bank economist Torsten Slok. Other market watchers do not share this view, pointing instead to numerous bullish indicators, including significant retail appetite for bonds.