China’s inflation eases in April
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HONG KONG (MarketWatch) — China’s consumer inflation slowed in April after a surprise gain in March, while wholesale prices headed lower, according to government data released Friday.
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The consumer price index rose 3.4% from a year earlier, contracting 0.1% on a month-on-month basis. The result matched expectations from a Dow Jones Newswires survey and was just above a 3.3% gain tipped in a Reuters survey. The gain was below March’s 3.6%, and just above the 3.2% recorded in February.
The producer price index showed a year-on-year drop of 0.7%, slightly beyond a 0.5% decline forecast from the Reuters and Dow Jones Newswires surveys. Compared to March, the PPI was 0.2% higher. More
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Exclusive: J.P. Morgan’s losses reveal market chaos
J.P. Morgan Chase & Co. JPM +0.25% , the last bank on Wall Street with any semblance of industry dignity for how it managed and comported itself in the financial crisis, on Thursday became the latest confidence-shaking bank on Wall Street to get waylaid by today’s financial system.
It’s a system that by now is so obviously out of control that you have to wonder if we should just call off the charade of regulation. Credit-default swaps, interest-rate swaps, massive derivative hedging bets, dark pools all run by algorithms — the markets are so run amok, they’re humiliating the smartest guys on Wall Street. And there is none smarter than Jamie Dimon at the top of an institution. More
10 income-paying stocks that beat the crowd -- these high-quality names slip under yield-hunters’ radar
SAN FRANCISCO (MarketWatch) — Stock investors no longer have doubts about dividends, and that’s reason for some doubt.
Shares of high-quality, cash-rich, large-cap companies that yield more than the Standard & Poor’s 500-stock index SPX +0.25% are the new favorites in many portfolios. But many of these success stories have been discovered, boosting share prices and trimming yields.
At this point, investors might do better scouring the S&P 500 for companies that wouldn’t show up on a screen for above-average yielders, but which still enjoy dominant, “wide moat” positions in their business.
“It’s kind of a crowded trade,” said Paul Nolte, managing director at investment firm Dearborn Partners, about the popularity of the high-quality dividend strategy. “Valuations on high-dividend payers are at the upper-end of their historical ranges.” More
VIDEO: Is the Facebook IPO Doomed?
MarketWatch's Dave Callaway pulls up a chair on Mean Street and points out that global economic instability could pose a substantive challenge to this month's scheduled Facebook IPO. Photo: Reuters. SEE IT NOW>>
Gold Set for Longest Rally Since January
Gold may climb for a fifth day for the best run since January as concern that the European debt crisis is deepening boosts haven demand. The precious metal is still set for the longest run of monthly losses in 12 years.
Spot gold was little changed at $1,664.86 an ounce at 2 p.m. in Singapore, after gaining 1.5 percent in the final four days of last week. Bullion remains poised for a third month of losses, the longest losing streak since 2000, as the euro lost 0.8 percent against the dollar since the end of March.
Spain's economy, the fourth-biggest in the euro region, probably shrank 0.4 percent in the first quarter from a 0.3 percent contraction in the fourth quarter of 2011, economists forecast before a report today. Unemployment surged to the highest level in 18 years, data on April 27 showed, a day after Standard & Poor's cut the country's credit ratings. More
BAHAHAHA Moment of the Week
FDIC sues former NFL star
While Jim McMahon was a standout for the Chicago Bears in the 1980s, the former NFL quarterback did not go on to have such a strong career in the banking industry. The Chicago Sun-Times recently reported the FDIC is currently suing McMahon for his role in the 2010 failure of Chicago-based Broadway Bank.
Broadway Bank, like many other financial institutions, made some high-risk loans that came back to bite the bank and the FDIC's insurance funds when those loans weren't repaid. In McMahon's case, the lawsuit spells out that the Super Bowl-winning quarterback didn't display such exemplary leadership skills when he served on Broadway's Board of Directors.
From approving a loan that lost the bank $19.5 million to missing important meetings, the lawsuit throws him in with many other executives at banks whose carelessness allegedly contributed to the economic slowdown, created hassle for account holders and cost the FDIC's Deposit Insurance Fund a lot of money. More
It’s Not Easy Making Do With a Measly Million
WHO’S rich?
Occupy Wall Street has its 1 percent answer, of course. A consulting firm that studies the wealthy has a broader definition, based on millionaire status. Many financial planners have a cautionary third answer — that appearances, and account balances, can be deceiving, and you may not be as rich as you think you are.
The Occupy Wall Street forces focus more on income than on wealth. But if its 1 percent label were applied to assets, the dividing line between the 1 percent and everyone else would be $8.4 million.
Based on its research, the consulting firm, Spectrem Group, said about 8.6 million American households had a net worth of at least $1 million last year, not including their equity in a home — just over 7 percent of the 117 million American households. More
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