Business | MyFOX Spokane

Oil breaks $100 after Fed vows action on economy

Submitted by Fox First at Ten on September 14th

By PABLO GORONDIAssociated Press The price of oil broke above $100 a barrel on Friday for the first time since early May after the U.S. Federal Reserve announced a plan to jolt the U.S. economy and unrest in the Middle East heightened supply concerns. By early afternoon in Europe, benchmark oil

World stocks jump on Fed pledge for US economy

Submitted by Fox First at Ten on September 14th

By COLLEEN BARRYAP Business Writer MILAN (AP) - World stock markets shot higher Friday after the Federal Reserve met investor expectations by giving the green light to big asset purchases to boost the U.S. economy. "What wasn't expected - and explains the particularly exuberant reaction by

Spain inches closer to financial help request

Submitted by Fox First at Ten on September 14th

By NICHOLAS PAPHITIS and PAN PYLASAssociated Press NICOSIA, Cyprus (AP) - Spain revealed Friday that it will present a new set of economic reforms by the end of the month, in a move that raises hopes that the struggling country will soon ask for financial help. The economic reform plan,

Home Depot closing last 7 China big box outlets

Submitted by Fox First at Ten on September 14th

BEIJING (AP) - Home Depot Inc., the U.S.-based home improvement retailer, said Friday it will close its remaining seven big box outlets in China and focus on Internet-based sales and specialty stores. Sellers of furniture, paint and other home-improvement products in China have been hurt by an

Money market fund assets rose to $2.578 trillion

Submitted by Fox First at Ten on September 13th

NEW YORK (AP) - Total U.S. money market mutual fund assets rose $8.04 billion to $2.578 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday. Assets of the nation's retail money market mutual funds rose $670 million to $886.86 billion, the Washington-based

Cash pulled from stock funds for 6th month in row

Submitted by Fox First at Ten on September 13th

By MARK JEWELLAP Personal Finance Writer BOSTON (AP) - Another month of a rising stock market, another month of retreat for mutual fund investors who exited stocks and moved into bonds. A net $11 billion was withdrawn from U.S. stock funds in August, the sixth month in a row that withdrawals

Questions and answers on the US Fed's latest moves

Submitted by Fox First at Ten on September 13th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - The Federal Reserve launched a new mortgage bond-buying program Thursday and said it plans to keep short-term interest rates at ultra-low levels until the middle of 2015. The goal is to encourage more borrowing and spending. Here

Funds with most concentrated positions in Facebook

Submitted by Fox First at Ten on September 13th

By The Associated Press Below is a list of the 10 mutual funds with the largest proportions of their portfolios invested in shares of Facebook Inc., based on Associated Press research and data from Morningstar Inc. The list is based on each fund's most recently issued holdings report.

Facebook still has believers among fund managers

Submitted by Fox First at Ten on September 13th

By MARK JEWELLAP Personal Finance Writer BOSTON (AP) - Few investors have been hitting the "like" button for Facebook. The stock has lost nearly half its value since May's highly anticipated but botched initial public offering. Yet some mutual fund managers continue to see strong long-term

Dollar falls on Fed stimulus plan

Submitted by Fox First at Ten on September 13th

NEW YORK (AP) - The dollar fell against other major currencies after the Federal Reserve said Thursday that it will launch another round of bond purchases to help boost the U.S. economy. The central bank said that it will spend $40 billion a month to buy mortgage-backed securities for as long as it