Posts by Stacy Curtin

  • Grounded Flights Stress Travelers but Not the Economy: Jeff Macke

    Stacy Curtin at Daily Ticker 3 yrs ago

    Today, the day before Thanksgiving, is the single busiest travel day of the year, according to AAA's annual travel outlook. But, as if right on cue, mother nature has unleashed a massive and deadly storm that is threatening travel this holiday.

    More than 300 flights have been cancelled and nearly 1,000 have been delayed already today, according to That follows 284 cancellations yesterday and more than 6,500 delays.

    Related: Top U.S. Airports to Be Stranded In During a Flight Delay

    AAA projects that 43.4 million Americans will be traveling this Thanksgiving weekend, down slightly from last year. The majority of those people (38.9 million) will be driving, with the rest of traveling by air (3.14 million).

    So what does this deadly storm mean for the economy? In the accompanying clip, Yahoo Finance's Lauren Lyster and Jeff Macke discuss just that.

    According to Macke, the cost of all the travel delays will be a big whopping goose egg.

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  • Stocks Are Headed Even Higher: Michael Holland

    Stacy Curtin at Daily Ticker 3 yrs ago

    Investors certainly have something to be thankful for this Thanksgiving.

    Markets are trading at all-time highs with the Dow Jones Industrial Average (^DJI) trading above 16,000 and the S&P 500 (^GSPC) at more than 1,800.

    But where can stocks go from here?

    Related: No Fed Taper but No Market Bubbles Either: Jefferies' Ward McCarthy

    "All things being equal, an accommodative Fed means stocks are going higher," says Michael Holland, chairman of Holland & Company, a private investment firm. "Ben Bernanke and Janet Yellen are telling us they are probably still likely to go up and that's the right bet right now."

    To his point, the prospect of a deal with Iran boosted the Nasdaq (^IXIC) to 4,000 Thursday for the first time in 13 years.

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  • America’s Student Loan Crisis: Generation I.O.U.

    Stacy Curtin at Daily Ticker 3 yrs ago

    Graduation season is here!

    But instead of planning for a year abroad or embarking on exciting new careers, many new grads are instead paralyzed with fear over a weak job market and crushing debts.

    “I am a slave to my student loans and I cannot take it," says Flickr user Rhiannon. She's a 27-year-old graduate of Arizona State University.

    Related: Generation I.O.U. Slideshow

    In 2011 two-thirds of college seniors graduated with roughly $27,000 in student loan debt. More than 38 million Americans owe more than a combined $1 trillion in outstanding student loans.

    If you are a parent or a student, you know that college education costs have skyrocketed in recent years. What you may not know is that the annual cost of a four-year degree has risen three times as fast as the rate of inflation since the 1970s.

    Why the U.S. higher education system is broken

    What makes this crisis worse is the fact that finding a job after college graduation has becoming increasingly difficult in this tough economy.

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  • ‘Homeownership Is Still the Cornerstone of the American Dream’: Rick Newman

    Stacy Curtin at Daily Ticker 3 yrs ago

    Housing data out this week continues to support the case that a recovery is in the making.

    Home prices jumped 8.6% and 9.3% since February 2012, according to the latest reading of the S&P/Case-Shiller Home Price Index for its 10- and 20-city composites. Those are the biggest gains since 2006.

    Pending home sales for March also ticked up 1.5% to the highest level in three years, according to the National Association of Realtors.

    Rick Newman, the chief business correspondent for U.S. News and World Report, sat down with The Daily Ticker's Lauren Lyster at the 2013 Milken Institute Global Conference to discuss what's driving the housing market.

    Tell Us What You Think!

  • Fed-Assisted Growth Stuck at 2% “New Normal” Rates Through 2013

    Stacy Curtin at Daily Ticker 3 yrs ago

    The Federal Reserve begins its two-day policy-making meeting today and not much news is expected, as has been the case ahead of many of the most recent meetings.


    Related: The Bull Case for Gold Hasn’t Changed One Iota: Michael Pento

    The central bank has clearly stated it will continue its $85 billion per month bond-buying program until the unemployment rate drops to 6.5% and as long as inflation remains stable. The jobless rate for fell from 7.7% to 7.6% in March and remains well above the Fed's threshold for drawing back its monetary stimulus.

    That said, inflation has been falling and may be even more reason for the Fed to continue its current program. The Wall Street Journal's Jon Hilsenrath details as much in a recent article:

    Ahead of the Fed's policy meeting, The Daily Ticker sat down with Mohamed El-Erian, CEO and co-chief investment officer at PIMCO, to get his take on what the Fed may or may not do.

    Tell Us What You Think!

  • 12 (Misguided) Commandments of Gold Bugs: Barry Ritholtz

    Stacy Curtin at Daily Ticker 3 yrs ago

    Gold prices have finally stabilized after falling roughly 11% over the last week.

    The yellow metal closed Thursday up 1.84% to $1,417 an ounce.

    The reason for the recent drop in gold prices is unclear but some cite Cyprus selling its gold to cover the cost of its bailout as a factor or central bank manipulation.

    Related: Gold Tumbles Again: Is the Era of Gold Over?

    Barry Ritholtz of Fusion IQ made a prescient call last December when he sold all his gold. He has recently been writing on his The Big Picture blog about the "New Great Rotation" from commodities into bonds (versus the "old rotation" from stocks to bonds).

    Related: A s Gold Prices Collapse, Investors Seek Answers

    Here are his twelve (misguided) gold bug commandments in his own words:

    Tell Us What You Think!

  • Banks Are Not as Bad as You Think: Pettis

    Stacy Curtin at Daily Ticker 4 yrs ago

    The last financial crisis catapulted the U.S. economy into the worse recession since the Great Depression. Since then, much time and discourse has been dedicated to blaming the big banks for engaging in risky business.

    Michael Pettis, finance professor at Peking University in Beijing and senior associate at the Carnegie Endowment for International Peace, recently wrote in the Financial Times that reckless banking is actually good for economic growth.

    He writes:

    "No growing economy has sustained a stable financial system. In fact, long-term wealth creation accrues most to societies in which the financial system most willingly funds risk-taking entrepreneurs. But the more a financial system is willing to finance risky new ventures, the greater the likelihood of banking instability. That, perhaps, is why the system that delivered the subprime crisis also funded the computing and internet revolutions."

    The Daily Ticker's Lauren Lyster caught up with Pettis at this year's 2013 Wine Country Conference in support of Les Turner ALS Foundation.

  • S&P 500 May Fall More Than 40% By Fall: Chris Martenson

    Stacy Curtin at Daily Ticker 4 yrs ago

    Even though the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) are hovering at all-time highs, Chris Martenson, author of and the “Crash Course” Series, is forecasting a major market correction.

    Martenson predicts the S&P could fall 40% to 60% to the 600-800 level by this fall. His last major market call was in March 2008, before the financial crisis.

    Related: U.S. Stock Market Is 'Overvalued, Overbought and Overbullish': John Hussman

    The Daily Ticker’s Lauren Lyster sat down with Martenson at the 2013 Wine Country Conference in support of Les Turner ALS Foundation to get his market and economic predictions.

    "I see recessionary signs all over the landscape. In particular, Europe is already in recession [and] Japan is already in recession," he says. "We are looking at global economic slowdown."

    Tell Us What You Think!

  • Jim Chanos: Stay Away From U.S. Tech Firms

    Stacy Curtin at Daily Ticker 4 yrs ago

    While the American economy may continue to be sending investors mixed signals about a potential recovery, famed short-seller Jim Chanos still believes the U.S. is "the best house in a bad neighborhood." He's been bullish on U.S. markets for three years.

    Related: March Jobs Disaster: It’s a Bad Report But Don’t Panic, Brusca Says

    "Boy the U.S. market has gone up quite a bit since then," says Chanos of his prediction. "A lot of what we thought might happen three years ago has sort of now been reflected in prices."

    To his point, both the Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) are trading near all-time highs. As a result, he is finding "fewer attractive long hedges in the U.S."

    His response? U.S. technology.

    Related: Apple Gearing Up To Launch New iPhone (Yawn)

    Chanos offers a few pointers for the average retail investor including: don't try to trade like a hedge fund.