Welcome to the weekly edition of What’s Hot In Stock Market News. To help you stay up to date with shares and stock markets, here are some of the news items that caught my attention this week.
What’s New This Week?
Why Gold Bugs Should Brace For An ‘Awful’ 2014: Gold had a tumultuous run in 2014 but don’t expect any respite in the new year, said UBS, which anticipates double-digit percentage losses over the next twelve months. “For investors who have gold, it’s just going to be an awful year again, ” said Domininc Schnider, head of non-traditional asset classes at UBS Wealth Management, who sees the precious metal falling to $1,050 an ounce this year, 13 percent below current levels.
S&P 500 starts 2014 with 2-Day decline: After last year’s big party in the stock market, 2014 is starting off with a nagging hangover. The Stanrdard & Poor’s 500 index edged a fraction of a point lower on Friday, beginning a year with a two-day losing streak for the first time since 2005.
5 Day Price Chart Of The S&P 500
Spain’s Largest Bank Is In Trouble: In early December, Banco Santander spent $650 million to buy an 8% stake in the Bank of Shanghai. For Santander (SAN), Spain’s largest bank, the deal looks to be another case of wrong place wrong time. It’s also the latest example of Santander’s hard-charging chairman Emilio Botin’s long-running growth strategy.
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Bernanke: 2014 Could Be Better Year For US Economy: Federal Reserve Chairman Ben Bernanke on Friday Predicted a stronger year for the U.S. economy in 2014, saying several factors that have held back growth appear to be abating. Amercians’ finances have improved and the outlook for home sales is brighter, Bernanke said.
Ichan Buying Hertz Shares, Is Poison Pill Target, Sources: Activist investor Carl Ichan has purchased 30 million to 40 million shares or car rental business Hertz (HTZ), sources familiar with situation said on Friday. Ichan is the target of the poison pill Hertz put into place on Monday, the sources said.
Berkshire Owns Over One-Fourth Of USG Corp After Crisis-Era Bet: Warren Buffett’s Berkshire Hathaway Inc has converted much of its debt on building products company USG Corp into more than $600 million of common stock in a successful investment made in the wake of the financial crisis.