According to the Fed, after-tax profits for last year’s fourth quarter hit 8.1 percent of GDP, a post-WWII record. At a trillion dollars, profits are way ahead of their prior peak in 1999 and have nearly doubled since their recent trough in 2001. Family net wealth, the nation’s true savings rate, advanced 8 percent in 2005 to a record level of $52 trillion. (Larry Kudlow)
The Dow industrials rose 75.32 points to 11151.34, nearly a five-year high, after two economic reports trimmed expectations that the Fed will lift rates past 5%. The Nasdaq gained 1.27%. (WSJ)
the fact remains that tax-induced capital cost reduction and resulting higher investment returns have boosted investment, healed business woes, and created employment growth near 2 million new jobs a year (and nearly 5 million since the middle of 2003 when the Bush tax cuts were implemented). (Larry Kudlow)
Iran's supreme leader said Tuesday that Tehran's nuclear program was "irreversible" and warned that any retreat in the face of international pressure would "break the country's independence." (Forbes)
March 14 (Bloomberg) -- Goldman Sachs Group Inc. reported Wall Street's highest-ever quarterly profit and revenue, powered by record trading and money-management fees.
March 14 (Bloomberg) -- U.S. Treasuries rose as a government report showed retail sales in February declined, raising speculation that a slowdown in consumer spending may keep inflation in check.
NEARLY a year after this column exposed the Central Intelligence Agency's murky and surprising involvement in the penny-stock market, the Securities and Exchange Commission has confirmed that it is pursuing an investigation involving one of the CIA-linked penny stocks in The Post series. (NY POST)
March 14 (Bloomberg) -- Emerging-market equity funds have attracted $20.9 billion this year, eclipsing the record inflows they garnered in all of 2005, as faster economic growth and a commodities boom lured investors to markets from India to Russia.
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