User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


76° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Tuesday Evening Business Brief

January 14, 2014, 5:18 PM

Tuesday Evening Business Brief
  • The stock market has had in its best day of the year so far. The Dow rose for only the third time in 2014, gaining 115 points, or 0.7 percent, to close at 16,373. The S&P 500 rose 19 points, or 1.1 percent, to 1,838, while the tech-heavy Nasdaq rose 69 points, or 1.7 percent, to 4,183. Technology companies surged, with Intel gaining 4 percent, the most of the 30 stocks in the Dow. 
  • Three reports today gauge consumer spending. The National Retail Federation says holiday sales increased 3.8 percent this past season, though they came at the expense of profits, with shoppers demanding discounts. The government says retail sales rose 0.2 percent in December, and a solid 0.7 percent when volatile categories such as autos and gasoline are factored out. And the Commerce Department says business inventories grew 0.4 percent in November, a sign that businesses believe consumers will increase spending in the months ahead. 
  • Two big banks are reporting fourth quarter profits. Wells Fargo says its profit rose 11 percent, with higher interest income helping to offset a steep drop in mortgage lending. Rising rates continue to slow Wells Fargo's mortgage business. It funded $50 billion worth of mortgages in the last three months of 2013, down from $125 billion a year earlier. Also today, JPMorgan Chase reported net income of $5.3 billion in the last three months of 2013, a 7 percent drop from last year as the bank continues to deal with legal problems.
  • Charter Communications is offering more details on its $38 billion takeover bid for Time Warner Cable. The cable company says the contemplated offer of $132.50 per share is 38 percent higher than where Time Warner's stock was trading when Charter first made a bid in June. Time Warner Cable has called the offer "a non-starter."
  • Washington Gov. Jay Inslee says the state's minimum wage should be higher. At $9.32 an hour, it's already the highest in the nation, but Inslee says too many parents with full-time jobs struggle to put food on the table. The Democratic governor didn't propose a specific minimum wage, but in his "State of the State" address today, he suggested it should be somewhere between $10.82 and $11.82 an hour.

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

View business

You may also like

Millions Of Android Phones At Risk For Heartbleed

4/15/2014 4:10 PM

If you've got an Android phone, your device could be susceptible to the Heartbleed security problem.

Full Story
Shrimp Prices Soar

4/16/2014 11:00 AM

The next time you order shrimp scampi of the menu, you may be in for sticker shock. 

Full Story
Headliners For JazzFest Announced

4/17/2014 10:54 AM

Plans are in place for JazzFest 2014 in Sioux Falls.

Full Story
Key Unlocks Gas Pumps For ID Thieves

4/14/2014 10:10 PM

Drivers who've fueled up in Rapid City are being warned that their debit and credit card numbers may have been stolen after "numerous" s...

Full Story | Watch
Eric Church Concert Near-Sellout Within Minutes

4/18/2014 5:55 PM

The first ticket sale to an event at the new Denny Sanford PREMIER Center proved to be a boon at the box office Friday

Full Story | Watch


Events

 
 
KELOLAND TV: 501 S. Phillips Avenue, Sioux Falls, SD 57104
Phone: 605.336.1100 · Breaking News call: 1-800-888-5356
Web Site Design and Custom Programming By: Lawrence & Schiller© 2014 KELO-TV -- KELOLAND.COM -- ALL RIGHTS RESERVED