U.S. stocks increase on Yellen weather comments

The S&P 500 closed at a record on Thursday after Federal Reserve Chair Janet Yellen said harsh weather seems to be to behind disappointing U.S. economic indicators this year. Also on Thursday, the Commerce Department reported that U.S. durable goods orders decreased by a seasonally adjusted 1% last month, less than expectations for a 1.5% drop. The Dow Jones industrial average rose 74.24 points or 0.46%, and closed at 16,272.65. The S&P 500 added 9.13 points or 0.49%, and closed at 1,854.29, above its previous record closing high set on January 15th. The NASDAQ Composite Index added...

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Stocks closed flat before comments from the Fed

Stocks closed flat on Wednesday as investors were hesitant before comments from Federal Reserve Chair Janet Yellen due on Thursday. The Dow Jones industrial average rose 18.75 points or 0.12%, and closed at 16,198.41. The S&P 500 inched up 0.04 of a point and closed at 1,845.16. The NASDAQ Composite added 4.477 points or 0.10%, and closed at 4,292.064. The S&P 500 retail index gained 1.4 percent. Among top Dow Jones Industrial Average performers were Wal-Mart Stores, up 1.96%, UnitedHealth, up 0.97%, and DuPont, up 0.92%. Among the Dow Jones Industrial Average’s worst...

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Mt. Gox Bitcoin Exchange website went offline

The website of the Tokyo-based Mt. Gox, the world’s largest bitcoin exchange went offline on Tuesday, amid Allegations of $350 Million Hack. The website of the Tokyo-based exchange has been offline since at least 10:30 p.m. Eastern time on Monday. Mt. Gox has not issued any statement about reasons behind the site going offline and whether it would be back at any time. The Bitcoin Foundation has made statement about the situation, saying it appears Gox may be insolvent: “We are shocked to learn about Mt. Gox’s alleged insolvency. While we are unable to comment on whether or not Mt....

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U.S. stocks traded higher on by gains in health insurers’ shares

U.S. stocks traded higher on Monday and the S&P 500 hit a record intraday high, boosted by gains in health insurers’ shares. In Washington, regulators are proposing cuts to Medicare rates that are less than expected, which boosted healthcare stocks. The Dow Jones industrial average increased 103.84 points or 0.64%, and closed at 16,207.14. The S&P 500 added 11.36 points or 0.62%, and closed at 1,847.61, after hitting an intraday record high of 1,858.71. The Nasdaq Composite Index added 29.558 points or 0.69%, and closed at 4,292.968. Among top Dow Jones Industrial Average...

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Bitcoin rallies on Mt. Gox withdrawal rumors

Bitcoin prices rallied almost 200% on Mt. Gox Exchange on Sunday and reached an intraday high above $300, due to hypothesis that withdrawals on the Tokyo-Based exchange will soon resume. BTC/USD soared to a session high of $348.98 on Mt. Gox, and afterwards traded at $278.00 during U.S. morning hours, up 151.4%. Investors returned to the market after a rumor posted on Reddit indicated that Mt. Gox is testing the option of resuming Bitcoin withdrawals. Mt. Gox was forced to pause all Bitcoin withdrawals on February 7th while experiencing a technical issue, which resulted in strong declines as...

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U.S. stocks dropped on disappointing data on home sales

U.S. stocks traded lower on Friday following disappointing data on home sales. A report from the National Association of Realtors indicated that U.S. existing home sales dropped 5.1% to 4.62 million units last month, more than expectations for a 4.3% drop to 4.68 million units. The Dow Jones industrial average dropped 29.93 points or 0.19%, and closed at 16,103.30. The S&P 500 dropped 3.53 points or 0.19%, and closed at 1,836.25. The NASDAQ Composite Index dropped 4.135 points or 0.10%, and closed at 4,263.41. For the week, the Dow Jones dropped 0.3% and the S&P 500 dropped 0.1%. The...

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