The Consumer Price Index, a measure of the average price level of a basket of consumer goods and services, was up 0.3% for the month of October, while the core CPI rate, excluding energy and food, rose 0.2%. On a year-over-year basis, consumer prices were down .2%. Read More
In what appears to be a bet consumers will stick with discount retailers even after the economy rebounds, Warren Buffett's Berkshire Hathaway increased its Wal-Mart holdings by almost 90 percent during the summer. It added almost 18 million shares, currently worth almost $1 billion, in the third quarter. Read More
Warren Buffett's Berkshire Hathaway is due to release its third quarter stock portfolio 'snapshot' later today (Monday). The 13F filing with the SEC will list Berkshire's holdings of U.S. publicly traded stocks as of September 30. There are times, however, that Berkshire gets permission from the SEC to keep some holdings confidential, often as it is accumulating a position. Read More
Disney's fourth quarter top and bottom line results beat Wall Street analyst expectations. Net income grew 18 percent on four percent higher revenue, despite some tough comparisons with last year's summer quarter, when the economic downturn had yet to fully hit the theme parks. Right after Disney's earnings call I sat down with CEO Bob Iger to hear about what's driving the company's growth and what's holding it back. Read More
The Mortgage Bankers Association said weekly purchases fell 11.7 percent to the lowest level since December 2000. Blame it on the homebuyer tax credit uncertainty, or maybe not. This, while 30-year fixed rate mortgages are below 5 percent. Read More
The S&P 500 snapped a 6-day winning streak with an ever-so-slight 0.07 point decline yesterday. However, rising 5.5% during the period, the run-up was the best such streak for the big-cap index since March 2003. Returning to the green today, the S&P is now up 7 of the first 8 trading days this month. Read More