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Business News

World Wealth Rises 14.6% in 2013


Markets continued their slow upward melt yesterday again posting slightly higher record closes.  Very little economic data today so there may be little to move markets. (Fox Business News)

Small business owners were more upbeat in May about the US economy than at any time since September 2007.  Even while reaching a post-recession high, the index is still far below what we would expect in a robust economic expansion. This was the third straight up monthly posting for the index. (CNBC)

Home foreclosures reached 8 year lows in May dropping 26% from last year. Currently nationally 109,824 homes are in some stage of foreclosure. Florida leads the pack with one in every 436 homes in foreclosure.  (Reuters)

The world added 2.6 million millionaire households in 2013, up 19 percent.  Millionaires represent 1.1% of the entire world population. The US has almost 44% of the world’s millionaires.  Last year total global wealth rose 14.6% to $152 trillion.  (Boston Consulting Group Global Wealth Report)

Short sellers, those betting the stock market will go down, have been wrong for five years.  Short sellers have recently raised their bets to 11% of all shares of one index that tracks the S&P 500, their highest since 2012.  Bets against tech stocks are 67% above their 12-month rolling average. (Bloomberg)


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