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Apr 14, 2010

The Wall Street Journal: Latest Headlines: Earnings Boost Stocks, April 14th, 2010

The Dow Jones Industrial Average posted its first triple-digit point gain in three weeks, and the Standard & Poor's 500 broke through a key round-number milestone thanks to the latest round of corporate earnings reports, which offered positive signals about the broader economy.
Traders welcomed J.P. Morgan Chase's report as a sign that the financial system is strong, brisk sales of Intel's chips suggested that businesses are buying equipment again, and CSX's strong results signaled strong demand to move goods to market. Each of those stocks jumped at least 3%, helping to push broader averages higher.

WSJ's Emma Moody joins the News Hub with insight on today's market rally.
The Dow gained 103.69 points to end at 11123.11, its best point gain since March 5. The average's 0.9% gain for the day was its best performance in percentage terms since March 23, when it posted a 102.94-point gain.
The Dow Jones Transportation Average posted an even stronger gain in percentage terms, up 2.4%.
Nadsaq Composite Index was up 1.6%. The S&P 500 pierced the 1200 milestone for the first time since late September 2008, breaking through after narrow misses in each of the previous two sessions. The broad index ended up 1.1% at 1210.65, led by a 2.6% jump in its financial sector.
Though Alcoa got first-quarter earnings season got off to a lukewarm start on Monday, the last two days' reports have been more favorable, boosting investors' confidence that the U.S. recovery can sustain itself.
"We put so much emphasis on these first few reports every earnings season," said strategist Jim Paulsen, of Wells Capital Management. "I was a little surprised by what we saw from Alcoa, but what we're getting from the other companies now makes more sense based on the other data we've been getting," showing gradual but clear improvement in key economic yardsticks.

Intel's strong earnings report and outlook set the pace for broad gains across the technology sector. Also, Apple shares rise after the company says it will push back the overseas rollout of the iPad due to high demand in the U.S. MarketWatch's Rex Crum reports in San Francisco.
That trend continued Wednesday as the Commerce Department said that retail sales rose 1.6% last month, the biggest gain in four months and above the 1.3% increase economists expected. Other economic reports showed a modest climb in consumer prices and an increase in business inventories.
In its beige book of regional economic indicators, the Federal Reserve was upbeat about the consumer spending, which represents more than two-thirds of gross domestic product in the U.S.
Fed Chairman Ben Bernanke told a congressional committee the pace of the recovery this year will depend on if consumers spend and companies invest enough to make up for fading government support. Mr. Bernanke repeated the Fed's pledge to keep interest rates at a record low for an "extended period" to continue aiding the recovery.
The dollar weakened against both the euro and the yen, pushing the U.S. Dollar Index down 0.4%.
Treasury prices were mixed, with the two-year note flat, yielding 1.057%. The 10-year note fell 11/32, lifting its yield to 3.861%.
Crude-oil futures snapped a five-day losing streak, gaining $1.79 to end at $85.84 a barrel as government data revealed an unexpected drop in inventories. Gold futures also rose.
—Donna Kardos Yesalavich and Kristina Peterson contributed to this article. Write to Peter A. McKay at

FORA TV: RON Paul Rail Against The Fed: Calls for Audit.

MarketWatch: Personal Finance Daily. April 14th, 2010

Personal Finance Daily
APRIL 14, 2010

Wednesday's Personal Finance stories

By MarketWatch

Don't miss these top stories:

Managing one's personal finances can be exhausting. Doing taxes is among the most onerous of tasks that must get done, but there are plenty of others to fill up one's days, not the least of which is trying to save money on everything from airfares to gifts to textbooks to pet supplies. Let's not even talk about retirement savings and investments. It's a lot of work.

Of course, the Web can help enormously. For instance, your bank accounts. Are you making the most of your savings? It's tough in these low-interest-rate times, but there's wide variation in rates paid if you look around. Read Jennifer Openshaw's column for more on an online tool that helps you find higher rates on checking accounts.

Then there's vacation planning. Much more fun than searching for a checking account, but nonetheless time-consuming, scrolling through innumerable Web sites. Read Jennifer Waters' story about finding cheap flights as airfares rise this summer.

As for taxes, some senators are proposing -- have we heard this before? -- simplifying the tax code. Wouldn't that be nice. Read Robert Schroeder's story for more.

Sure, the Web is amazingly convenient, and cheap. And I'm a big fan of filing taxes through online software. But I seem to remember that booking travel was a lot more fun when I had to use a travel agent.

-- Andrea Coombes , Personal Finance editor

How to find cheap flights as summer airfares rise

Rock-bottom airfares will be limited this summer, but that doesn't mean they won't be out there. You just have to look harder, be on constant alert and be ready to pounce.
See Travel.

Airfares heat up for summer travel

Summertime, and the travel is pricey. is predicting a hefty bump in summer air fares.
 Listen to Radio Report on airfares for summer travel are on the rise.

Hotels make learning fun, parents get day off

At the Ritz-Carlton, Naples, parents have the option of signing their children up for one of a growing breed of new kids programs that emphasize learning. WSJ's Andrea Petersen reports.
 Watch Video Report.


On eve of tax day, senators push for simpler tax rules

Taxes will be simpler to complete, corporations will pay less and individuals will get a break under legislation being promoted by a pair of senators on the eve of tax day.
See TaxWatch.

Extend, or amend, your tax return

If you're not going to get your return in on time, or if you did but now realize there's a mistake, there are ways to mend the error -- by filing either an extension or an amendment to your tax return. MarketWatch's Andrea Coombes reports.
 Watch Personal Finance Minute.

Deducting jets and yachts

Richard Kohan, Personal Financial Services Leader, PricewaterhouseCoopers, answers a multi-million dollar question: Can you deduct your plane or your yacht? Veronica Dagher reports.
 Watch Video Report.


Make money with a high-rate bank account

What if you could add $500 to your bottom line and still get great service from your bank? There's a good chance you can, and an online tool can help you do it.
See Jennifer Openshaw.

Commentary: Card issuers owe young consumers a fair deal

My oldest daughter has been getting a little something extra in the mail besides acceptance letters to college: Credit-card applications. Truth be told, she has gotten them for years, ever since we set up her first checking account, but the Credit CARD Act -- which has been in effect since late February -- was supposed to change this.
See Chuck Jaffe.


Health-reform law protects moms who pump milk at work

Pulling off the feat of going back to work and continuing to breastfeed after having a baby is becoming a little easier thanks to a provision in the new health-reform law.
See Kristen Gerencher's Health Matters Blog.

Health records go digital

More doctors are adopting electronic health records, but as billions of federal funds go to expand health-care IT, patients need to tell doctors how it's working for them, says MarketWatch's Kristen Gerencher in this week's Health Minute.
 Watch Health Minute.


Extension of jobless benefits stalls in Senate

Democrats' efforts to extend jobless benefits hit a snag in the Senate on Wednesday, as the absence of one senator kept a bill from advancing.
See story on extension of jobless benefits stalls in Senate.

Food-safety bill aims to beef up FDA enforcement powers

Seven failures in six years. That's how many times one restaurant was allowed to violate seafood-handling procedures before the Food and Drug Administration was able to file an injunction and get the establishment closed.
See story on food-safety bill.

Obama 'confident' legislators can craft bipartisan bank bill

President Barack Obama said Wednesday during a meeting with congressional leaders that he is confident that lawmakers and the White House can come up with a package of bank-reform measures to ensure another crisis like the one seen in September 2008 doesn't happen again, despite stiff opposition from Republican lawmakers.
See story on bank reform.


Fund manager spots undervalued consumer, financial, medical stocks

Mark Coffelt, manager of Empiric Core Equity Fund, said he believes the U.S. stock market has "a long way to go" before the rally is finished, but noted that leadership is changing.
See Your Money with Chuck Jaffe.

Muni-rating tweaks may puzzle investors

Are you confused by ratings agencies' adjustments to muni bond ratings? Ashton Goodfield, head of muni trading at DWS Investments, explains what these ratings changes mean to advisers and investors.
 Watch Video Report.


Apple delays iPad International launch

Apple on Wednesday said it will delay selling the iPad overseas by one month, until the end of May, because of surprisingly strong U.S. demand. Stacey Delo discusses with MarketWatch's Dan Gallagher and Barron's Bob O'Brien.
 Watch Digits.

Stop losing your cell phone

Simon Constable talks to Katherine Boehret, who introduces us to two new devices that help prevent your cell phone or mobile device from getting away from you.
 Watch Digits.

News Alert: Poll Finds Tea Party Anger Rooted in Issues of Class, April 14th, 2010

Breaking News Alert
The New York Times
Wed, April 14, 2010 -- 6:30 PM ET
Poll Finds Tea Party Anger Rooted in Issues of Class
The fierce animosity that Tea Party supporters harbor toward
Washington and President Obama in particular is rooted in
deep pessimism about the direction of the country and the
conviction that the policies of the Obama administration are
disproportionately directed at helping the poor rather than
the middle class or the rich, according to the latest New
York Times/CBS News poll.
Read More:

CNBC: Latest Stories, April, 14th, 2010


»click here to see the latest top stories from

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Inside Beige Book
A breakdown of the Fed's latest Beige Book, with CNBC's Steve Liesman and James Bianco, Bianco Research and Lou Brien, DRW Trading Strategist.
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REUTERS : Daily Investor Update -DAI: S&P tops 1,200 on earnings boost. April 14th, 2010

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Good evening Fernando, WED 14 Apr 2010 
S&P tops 1,200 on earnings boost
Bernanke says rates to stay low for "extended period"
JPMorgan earnings set bar high for banks
Retail sales up, economic recovery seen widening
Zell sees political risk to investing in U.S.
Geithner sees critical moment for financial rules
Fed says economy mostly stronger in March
SEC plans IDs for fast traders, option fee caps
Companies get sold on green, consumers wary
Apple delays iPad's international launch

S&P tops 1,200 on earnings boost
April 14, 2010 04:22 PM ET
NEW YORK (Reuters) - U.S. stocks notched a fifth straight day of gains on Wednesday as stronger-than-expected corporate results and March retail sales pushed the S&P 500 past 1,200 for the first time in 18 months.

Full Article
Bernanke says rates to stay low for "extended period"
April 14, 2010 03:13 PM ET
WASHINGTON (Reuters) - A moderate U.S. economic recovery is likely to warrant very low interest rates for a long time, Federal Reserve Chairman Ben Bernanke testified on Wednesday.

Full Article
JPMorgan earnings set bar high for banks
April 14, 2010 02:26 PM ET
NEW YORK (Reuters) - JPMorgan Chase & Co reported quarterly profit that beat forecasts and set a high bar for rivals, as investment banking earnings gained, loan losses slowed and Chief Executive Jamie Dimon said he saw the makings of a good economic recovery.

Full Article
Retail sales up, economic recovery seen widening
April 14, 2010 02:03 PM ET
WASHINGTON (Reuters) - Sales at U.S. retailers rose more vigorously than expected in March as stronger demand led businesses to rebuild inventories to a seven-month high in February, suggesting a broadening economic recovery.

Full Article
Zell sees political risk to investing in U.S.
April 14, 2010 03:47 PM ET
BOSTON (Reuters) - The policies of the current U.S. administration have created "political risk" to investing in the United States, billionaire real estate investor Sam Zell said on Wednesday.

Full Article
Geithner sees critical moment for financial rules
April 14, 2010 02:22 PM ET
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday an overhaul of financial regulations was at a "critical moment" and said he believed a legislative agreement was close.

Full Article
Fed says economy mostly stronger in March
April 14, 2010 02:42 PM ET
WASHINGTON (Reuters) - Economic activity strengthened in most U.S. regions during March and early April with the exception of St. Louis, where plans to close several plants were announced, the Federal Reserve said on Wednesday.

Full Article
SEC plans IDs for fast traders, option fee caps
April 14, 2010 01:14 PM ET
WASHINGTON/NEW YORK (Reuters) - U.S. securities regulators proposed requiring high-frequency traders to reveal their identities and disclose their trades -- the latest attempt to get a grip on the lightening-fast trades that are shaking up equity markets.

Full Article
Companies get sold on green, consumers wary
April 14, 2010 03:31 PM ET
DANA POINT, California (Reuters) - U.S. corporations looking to slash costs during the recession found some savings in environmentally conscious business practices, but a higher price tag on green products is a barrier to many consumers.

Full Article
Apple delays iPad's international launch
April 14, 2010 03:30 PM ET
NEW YORK/SAN FRANCISCO (Reuters) - Apple Inc said it would delay for one month the international roll-out of its iPad tablet computer, due to heavy demand and swift sales after its launch in the United States.

Full Article