Business News

Gold Gets Crushed

Markets are in rally mode this morning as the balance of power changed in the US Senate as a result of yesterday’s elections.

ADP says the private sector increased jobs by 230,000 in October.  Gains were very broad based with most of the job growth coming from small businesses.  

New orders for US factory goods fell for second straight month in September by 0.6%. The almost broad-based decline in orders, which was led by aircraft, machinery, capital goods and computers and electronic products, is likely to be short-lived. (Reuters)

Toyota raised its full-year profit forecast by 9.1%, driven by the declining value of the yen. The Japanese automaker also posted double-digit profit increases in the latest quarter. (CNBC)

Even if you’ve socked plenty of money away in your 401(k) plan and invested it carefully, some of your toughest decisions lie ahead. Strategies for drawing down lump-sum accounts in retirement -- more important than ever in the 401(k) era. That’s challenging because the standard formula for squirreling retirement savings into bonds or certificates of deposit doesn’t necessarily work in an era of increased longevity.  American men who reach age 65 will live another 17.9 years on average, while women will live 20.5 years. ( Bloomberg)

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