On this last trading day of January the S&P 500 faces an uphill battle today to breakeven for the month.
The government says the US economy grew at a 2.6% rate in the fourth quarter of 2014. That is a little lighter than expected. Consumption was strong and inventories declined on the back of falling prices.
Contracts to buy previously owned U.S. homes fell more than expected in December as tighter inventory and an increase in house prices discouraged buyers. Compared to December of 2013, contracts were up 6.1%. (Reuters)
The number of people seeking unemployment aid plunged last week to the lowest level in almost 15 years. Weekly applications dropped 43,000 to a seasonally adjusted 265,000. That is the lowest level since April 2000. (AP)
Retirement savers achieved record 401(k) balances in 2014. The average 401(k) balance hit a record high of $91,300 last year, according to Fidelity Investments. Only a tiny fraction of plan participants ever reach the million-dollar mark. About 72,000 workers amassed $1 million or more in their 401(k) retirement plans at the end of 2014. That's nearly twice as many as in 2012 and almost five times as many as a decade ago. (CNBC)
Join us Saturday at 10 for Financial Focus when Troy and Tyler will talk about how to keep your wealth building plans on track with renewed volatility.