U.S. stock funds attract cash for first time in six weeks: Lipper

NEW YORK (Reuters) – U.S. fund investors eased into wild stock markets during the latest week, adding $5.2 billion, according to Lipper data on Thursday that reflected the first net positive flows for funds since December’s selloff began. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December […]

U.S. fund investors sold most bonds in seven weeks on Fed hike: ICI

NEW YORK (Reuters) – U.S. fund investors battered bond markets with the biggest withdrawals in seven weeks and snatched the most cash from foreign stocks since mid-2015 as the Federal Reserve hiked interest rates, Investment Company Institute (ICI) data showed on Wednesday. Some $12.2 billion tumbled from U.S.-based bond funds during the week ended Dec. […]

Factbox: Past Nasdaq bear markets lasted long and cut deep

(Reuters) – Get ready for a long and ugly ride. The Nasdaq logo is etched into glass at the headquarters for the Nasdaq in New York March 3, 2015. REUTERS/Lucas Jackson On Friday, the Nasdaq Composite .IXIC closed almost 22 percent below its record high daily close on Aug. 29, signaling a nearly nine-and-a-half year […]

Your Money: Meet the People Trying to Put a Friendlier Face on Annuities

Saving for retirement requires a strange sort of oddsmaking. On one hand, we’re somehow supposed to know what returns to expect from investments in our retirement accounts over the next 25 or 50 years. And on the other, we must apply our prediction skills to related questions about how long we’ll want to work, how […]

Exclusive: City Financial's hedge fund Decca to shut down – letter

LONDON (Reuters) – London-based fund firm City Financial and the chief investment officer of its Decca Fund, Shahraab Ahmad, have decided to wind down the credit-focused strategy after it “did not deliver the performance that you expect of us”, according to a letter to investors reviewed by Reuters. City Financial was hit hard earlier in […]

Hedge fund Latimer Light says it is shutting down

BOSTON (Reuters) – Hedge fund Latimer Light Capital, which specialized in picking stocks, is closing its doors, becoming the latest casualty in an industry pummeled by the recent stock market sell-off. New York-based Latimer Light told investors it plans to shut down in a letter it emailed on Friday, according to people familiar with the […]

Goldman Sachs CEO to employees: our compliance is strong

David Solomon, president and chief operating officer of Goldman Sachs, listens at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. REUTERS/Shannon Stapleton NEW YORK (Reuters) – Goldman Sachs Group Inc Chief Executive David Solomon on Friday defended the bank against criticism of its compliance and oversight related to dealings with the […]

SEC sanctions robo-advisers Wealthfront, Hedgeable

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said on Friday it had settled charges with automated investment management providers Wealthfront Advisers LLC and Hedgeable Inc to resolve allegations that the companies had made false disclosures to their customers. In its first enforcement actions against robo-advisers, the SEC fined Wealthfront $250,000 and Hedgeable […]

As FAANG stocks falter, fund managers make bets on survivors

NEW YORK (Reuters) – A bear market in the so-called FAANG stocks – Wall Street’s most popular trade going into the year – is pushing fund managers into searching for the next big growth companies that can lead the overall market higher. FILE PHOTO: A trader works on the floor at the New York Stock […]

Wealth Matters: How to Plan Finances to Raise a Special-Needs Child

Michael and Carole Maguire’s second daughter, Ally, was born with a rare chromosomal disorder, trisomy 12. “Doctors didn’t know much about it because it was so rare, but they said she would be profoundly mentally challenged,” Mr. Maguire said. “We didn’t think she would walk or talk.” Mrs. Maguire set up an online support group […]

Bridgewater's Jensen forecasts 'near-recession-level growth' in 2019

NEW YORK (Reuters) – Greg Jensen, co-chief investment officer of Bridgewater Associates, the largest hedge fund in the world, is forecasting “significantly weaker, near-recession-level growth” next year. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 20, 2018. REUTERS/Brendan McDermid In a telephone interview on Thursday, Jensen […]

U.S. stock funds set for record monthly withdrawals: Lipper

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 20, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – Investors fled U.S.-based stock funds in the latest week, setting those investments up for their biggest month of withdrawals on record, Lipper data showed on Thursday. More than $80.7 billion […]

American Eagle gold, silver coin demand reaches 11-year lows

CHICAGO (Reuters) – In a sign of precious metals demand, sales of U.S. Mint American Eagle gold and silver coins are closing out their weakest year since 2007, as investors favored higher-yielding assets, despite volatility in global stock and bond markets late in the year. One ounce silver coins undergo washing at the cleaning facility […]

ETFs, major supporter of U.S. stock market, stop buying the dip

NEW YORK (Reuters) – There is no more mistletoe hanging above the markets. FILE PHOTO: A Specialist trader works at his post on the floor of the New York Stock Exchange (NYSE) in New York, U.S., November 1, 2018. REUTERS/Brendan McDermid/File Photo The romance U.S. fund investors once had with the stock market was put […]

FINRA fines Merrill Lynch $5.5 million for improper IPO share sale

(Reuters) – A U.S. financial regulator on Thursday fined security brokerage Merrill Lynch, a unit of Bank of America, $5.5 million for improperly selling shares in initial public offerings (IPOs) to industry insiders. Financial Industry Regulatory Authority (FINRA) said Merrill Lynch will also have to pay up $490,530 it earned as revenue from shares sold […]

Spooked global funds drive up cash and bond holdings

LONDON (Reuters) – Spooked by another worldwide stocks selloff, global investors have piled up cash to a more than two-year high this month, hoovered up bonds and cut back property holdings. A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 19, 2018. REUTERS/Brendan McDermid Brexit worries […]

The push to improve working conditions for U.S. caregivers

CHICAGO (Reuters) – Ai-jen Poo wants to transform caregiving into real work. By “real,” she does not mean more difficult. Rather, the activist and author is seeking recognition of the value of domestic work, and to raise its status and pay accordingly. “It’s the work that makes all other work possible,” said Poo, executive director […]

U.S. fund investors withdraw most cash in three years: ICI

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo NEW YORK (Reuters) – U.S. fund investors stripped the most cash from U.S.-based mutual funds in more than three years in the latest week, Investment Company Institute (ICI) data showed on […]

U.S. business borrowing for equipment rises 7 percent in November: ELFA

(Reuters) – U.S. companies’ borrowing to spend on capital investment rose 7 percent in November from a year ago, a trade group representing capital equipment lenders said on Wednesday. The companies signed up for $8.0 billion in new loans, leases and lines of credit last month, up from $7.5 billion a year earlier. However, borrowings […]

How to kickstart a young person's retirement

CHICAGO (Reuters) – When the Vondruska family gathers in Watersmeet, Michigan on Christmas Eve to open presents, the grandchildren will not be ripping open any packages from their grandparents. FILE PHOTO: Graduating seniors line up to receive their diplomas during Commencement at Wellesley College in Wellesley, Massachusetts, U.S., May 26, 2017. REUTERS/Brian Snyder/File Photo Instead, […]

George Lucas's film empire tops Forbes list of richest U.S. celebrities

NEW YORK (Reuters) – Filmmaker George Lucas’s “Star Wars” empire – the movie franchise, not Darth Vader’s fictional galactic government – planted him firmly atop Forbes magazine’s third annual ranking of the wealthiest U.S. celebrities which was released on Tuesday. The net worth of the 74-year-old writer, director, producer and creator of the enduring space […]

Investor activists press U.S. prison operators on human rights

BOSTON (Reuters) – Activist investors said on Tuesday they filed shareholder resolutions at two U.S. private prison operators, looking to link executive pay to human rights considerations at CoreCivic Inc and have Geo Group give more details on the treatment of people held at correction and detention facilities. The resolutions were filed by shareholders including […]

Your Money: Why safety matters for your cash

NEW YORK (Reuters) – Would you sacrifice the safety of your savings for $60? FILE PHOTO: U.S. Dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez//File Photo Last week investing startup Robinhood announced a market-leading checking and savings account paying 3 percent interest, a jump ahead of the current […]

Investors gloomiest in a decade about world economy: BAML survey

LONDON (Reuters) – Investor outlooks have deteriorated to their most pessimistic in a decade, Bank of America Merrill Lynch’s December investor survey showed on Tuesday. A trader looks on while waiting for the initial price of Tencent Music Entertainment company’s IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., […]

UBS says Asia's wealthy trade less, cut debt as politics shift

ZURICH (Reuters) – Wealthy Asian investors are trading less, worried that trade tensions are tilting the global balance of power, Martin Blessing, co-head of wealth management at UBS (UBSG.S), said. FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Basel, Switzerland March 29, 2017. Picture taken on March 29, […]

DoubleLine's Gundlach says U.S. equities are in long-term bear market

NEW YORK (Reuters) – Jeffrey Gundlach, chief executive of DoubleLine Capital, on Monday said the S&P 500 stock index is headed to new lows and that U.S. equities are in a long-term bear market. FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital, speaks during the Sohn Investment Conference in New York City, U.S., May 8, […]

Wall Street's main small-cap index drops into bear market

SAN FRANCISCO (Reuters) – Wall Street’s most widely followed benchmark of small-cap stocks tumbled into a bear market on Monday as investors grew more worried about slower profit growth and rising interest rates. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 11, 2018. REUTERS/Brendan McDermid The […]

Top U.S. fund managers prepare for bear market in small company stocks

NEW YORK (Reuters) – The shares of small companies in the U.S. haven’t technically fallen into a bear market yet, but several top-performing fund managers are acting as if it is inevitable. FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., December […]

Goldman, Morgan Stanley gain clout in Brazil as NY IPOs grow

SAO PAULO (Reuters) – Goldman Sachs Group Inc (GS.N), Morgan Stanley(MS.N) and Bank of America Merrill Lynch(BAC.N) are regaining clout in Latin America’s largest economy as Brazilian companies opt to list shares in New York instead of on their local exchanges, Refinitiv data shows. A sign is displayed on the Morgan Stanley building in New […]

Burnout, stress lead more companies to try a four-day work week

BERLIN (Reuters) – Work four days a week, but get paid for five? It sounds too good to be true, but companies around the world that have cut their work week have found that it leads to higher productivity, more motivated staff and less burnout. “It is much healthier and we do a better job […]

Your Money: Who's a good fund? You’re a good fund!

NEW YORK (Reuters) – If you want a friend, get a dog. If you want to make money, invest in people who want to get dogs. You can do this now because investment funds focusing on furry friends are starting to hit the market: One an exchange-traded Pet Care fund from ProShares (ticker PAWZ, of […]

Sketch Guy: Talking About Money Is Extremely Hard. Do It Anyway.

I recently sent out an email asking people on my mailing list for a simple “yes” or “no” response to the following question: Is it hard for you to talk about money with your spouse or partner? I got hundreds of replies. But buried in those replies was one that I found particularly difficult to […]

Your Money: The Simplest Annuity Explainer We Could Write

Annuities can be complicated. This column will not be. After I wrote two weeks ago about getting tossed out of the office of an annuity salesman, there was a surprising clamor for more information about this room-clearing topic. One group of readers just wanted a basic explainer on how annuities work. For that, read on. […]

Investors sell record $39 billion of stocks in past week: BAML

FILE PHOTO: United States one dollar bills are seen on a light table at the Bureau of Engraving and Printing in Washington November 14, 2014. REUTERS/Gary Cameron/File Photo LONDON (Reuters) – Investors cashed out of equity funds at a record pace over the past week, with redemptions hitting $39 billion, Bank of America Merrill Lynch […]

Record $46 billion pulled from U.S.-based stock funds in latest week: Lipper

NEW YORK (Reuters) – Record cash streamed out of U.S.-based stock funds and billions more fled bonds in a week of apparently escalated caution, Lipper data showed on Thursday. More than $46 billion thundered out of U.S. stock mutual funds and exchange-traded funds (ETFs), the most ever, while a near-record $13 billion poured from bonds, […]

Standard Chartered axes over 200 jobs in India: source

A logo of Standard Chartered is displayed at the financial Central district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip (Reuters) – Standard Chartered Plc has laid off over 200 employees in India in its retail banking division, as more customers move to digital services, a person familiar with the matter told Reuters on […]

Strategies: Tech Stocks Often Rise and Fall Together. They Shouldn’t.

The stock market often acts as though tech stocks were members of a close-knit family that must always travel together. Tech stocks, as a group, drove the stock market higher in the first part of 2018, and led the entire market lower this autumn, or so it is frequently said. I’ve lumped tech stocks together […]

U.S. fund investors compound pain for bond markets

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 11, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – U.S. fund investors sold more bonds in December’s opening days, the Investment Company Institute (ICI) said on Wednesday, putting even more of a chill on markets where companies and governments […]

DoubleLine's Gundlach says S&P 500 likely to go below February 2018 lows

NEW YORK (Reuters) – Jeffrey Gundlach, chief executive of DoubleLine Capital, said Tuesday on an investor webcast that the Standard & Poor’s 500 Index is likely to go below its February 2018 lows. FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. […]

Wells Fargo won't be allowed to grow unless problems fixed: Fed's Powell

WASHINGTON/NEW YORK (Reuters) – Wells Fargo & Co (WFC.N) must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve. FILE PHOTO: The Wells Fargo name is shown on an office town in downtown […]

In a tight labor market, companies bet big on five-year rewards

NEW YORK (Reuters) – In the old days, longtime employees in the United States were honored with a gold watch after 30 years or so at a company. FILE PHOTO: A woman is seen in silhouette walking through Grand Central Station in New York September 25, 2014. REUTERS/Shannon Stapleton Well, they have got nothing on […]

Live-Streaming Your Broke Self for Rent Money

VideoLive-Streaming Your Broke Self for Rent Money Jovan Hill, 25, dropped out of college and is unemployed. So how does he pay for his Brooklyn apartment and marijuana habit? His social media followers chip in. By Mike Vilensky Dec. 8, 2018 On a lazy Sunday in September, Jovan Hill, a 25-year-old unemployed man in Brooklyn, […]

Wealth Matters: The Secret to Buying the Perfect Diamond

Tom Taira, a co-founder of the auto website TrueCar, was in the market for a new diamond for his wife, Stephanie. He wanted to replace the one he had given her for their engagement 10 years earlier with the diamond and setting that he wished he could have afforded then. But finding a 2.8-carat emerald-cut […]

Your Money Adviser: How to Get the Most From a Health Savings Account

Choosing a health savings account can be daunting, especially for people funding one for the first time. But some comparison shopping can help minimize fees and maximize savings, researchers say. Providers of health savings accounts are generally doing a better job of disclosing details like fees and investment options, said Leo Acheson, associate director of […]