Today is the 5th anniversary of the bull market on Wall Street. Since bottoming out on March 9th, 2009, the S&P 500 is up 175%. On average, a market correction occurs every 161 days, but it has now been over 600 days. Editor of barrons.com Jack Otter explains why a market correction hasn't happened yet.
Newsweek is standing by a report that the magazine tracked down the founder of Bitcoin. The new digital currency is highly volatile, having lost half its value over the past three months. It’s also attracting attention from the Treasury Department and the Securities and Exchange Commission. Ben Tracy reports.
General Motors is nearly doubling the number of vehicles it is recalling to fix ignition switches that can shut off engines and cause crashes. The recall now includes five additional models and totals nearly 1.4 million vehicles. The problem has been linked to 31 crashes and 13 deaths. Jeff Glor reports.
AOL CEO Tim Armstrong has rescinded proposed changes to benefits packages after comments he made raised the ire of employees. While explaining a change to company contributions to retirement accounts, Armstrong referred to two "distressed babies" of AOL employees as examples of rising health care costs. Michelle Miller reports.
The U.S. has been slow to adopt the high-tech cards that have been successful at cutting down fraud in other countries. But major credit card companies have decided that businesses and banks that don’t accept or issue smart cards will be responsible for any fraudulent charges come October 2015. Elaine Quijano reports.
The Dow suffered a triple-digit loss for the seventh time this year. A weaker-than-expected manufacturing report said growth in orders for machinery and other large factory goods dropped by the most in 33 years. Slow growth in developing economies added to investor pessimism. Alexis Christoforous reports.
The U.S. economy grew 3.7 percent during the second half of 2013, the strongest growth rate in a decade. While consumer spending was stronger than expected, the biggest headwinds came from Washington. Deutsche Bank economist Carl Riccadonna tells Anthony Mason it looks like the private sector is finally "getting some legs."