Weekly Wrap- Weekly Finance News

Weekly Finance News

Weekly Finance News Bank of America to Pay $9.5 Billion Settlement Fee to Federal Housing Finance Agency Bank of America has come to a settlement with Federal Housing Finance Agency as the latter filed a lawsuit on behalf of Federal Home Loan Mortgage Corporation and Federal National Mortgage Association. Bank of America agreed to pay $9.5 billion fine to them. ACE Group Announces New Insurance Plan for Independent Drivers and Transportation Carriers It’s hard to miss Ireland if one makes a list of top five most sought after tourist destinations in the world. The picturesque scenery, coastal villages, grassy fields, calm beaches and plethora of wildlife have made Ireland a must go place for all tourists. US Durable Good Market Raises More than the Estimated Percentage US manufactured goods market seems to recover from the previous gloom. In February, orders received from consumers for durable manufactured goods have increased from last two months. The finding will no doubt impress the US commerce department. The Performance Of Individual Stocks And S&P 500 After 50 Trading Days Of 2014 Already we have passed 50 trading days in this year. The comparison between S&P 500 index and the Bull market shows S&P 500 index return is just about the average while the Bull market is not showing the trends that it showed in the previous years. Appeals Court Allows Federal Reserve to Set Higher Rate on Debit Card Swipe Fee A big victory for the Federal Reserve Bank as a federal appeals court reimposed a 2011 Fed rule which enables banks to set higher charges on debit cards. A group of retailers challenged the rule and as the verdict went against them, it’s a huge setback for them. Biotech Stocks Fall Result in Record Intraday High in S&P 500 Followed By Momentum Investing Biotech stocks fall on Friday causing initial gains on the part of investors. As a result, the S&P 500 has witnessed a record intraday high. Later, investors considered this a continuing trend and booked profit in momentum names. S&P is currently 1862.52 but it went high to 1883.97.