Stocks advanced for the third straight day, with the S P 500 rising above the 1,400 mark for the first time in three months. The source of the optimism was partly tickets airline book online search the growing speculation that European tickets airline book online search and U.S. financial officials would begin more rounds of stimulus programs.
tickets airline book online search The Dow gained 51 points, with 21 of its 30 components advancing; the S P 500 rose 7; and the Nasdaq was higher by 25. Advancers led decliners by just under two to one on the NYSE and the Nasdaq. The prices of Treasuries weakened. Gold futures fell $3.40 to close at $1,612.80 an ounce, and the price of crude oil gained $1.47 to settle at $93.67 a barrel.
CVS Caremark s strong results in its pharmacy-benefit business boosted its second-quarter revenue. The pharmacy chain reported net income of $966 million, or 75 cents a share, compared with $816 million, or 60 cents a share, in the year-ago quarter. Revenue was $30.7 billion, up 16%. Same-store sales were up 5.6%. CVS shares (CVS) fell 1%.
The pace of consumer credit growth slowed in June to the slowest pace in eight months, according to the Federal Reserve. Consumer credit rose to $2.577 trillion, up $6.46 billion. Revolving debt, such as credit cards, actually fell during the month, with the growth occurring in nonrevolving debt, such as student and auto loans (excluding mortgages).
Italy s gross domestic product contracted for the fourth straight quarter in the three-month period that ended June 30, according to government figures. The 0.7% decline comes after a 0.8% decline in the first quarter.
In an interview with The Wall Street Journal , Federal Reserve tickets airline book online search Bank of Boston President Eric Rosengren called for a more aggressive, open-ended bond-buying program tickets airline book online search that he said should continue until growth and employment increased sufficiently. Rosengren is currently not a voting member tickets airline book online search of the Federal Open Market Committee.
The German Economic Ministry tickets airline book online search reported that orders for machinery dropped 1.7% in June, a much bigger decline than expected. Machinery orders were down 7.8% year over year. The results, combined with the news of Italy s further GDP contraction, rallied investors tickets airline book online search hopes that the European Central Bank would step in with a bond-buying tickets airline book online search program in an attempt to stimulate faltering European economies.
One of the biggest problems tickets airline book online search with buying tickets airline book online search a big item for personal tickets airline book online search use is tying up a lot of cash. A house is the most obvious example, but a car would be a close second. Cars don t increase in value like houses (of course, lately houses don t increase in value like houses, but that s another matter), so there s a relatively short window tickets airline book online search of use before the money you threw at the car evaporates in a cloud of door dings and bald tires and missed oil changes and high mileage.
Online companies like Airbnb.com help extract value from your house by arranging for you to host paying guests from people who need a place to stay, basically turning your house into a mini hotel or bed and breakfast. Now, according to Mashable, a start-up aims to do the same thing for your car. Called tickets airline book online search Getaround, the service lets you rent out your car by the hour, sort of like the communal car service Zipcar, except that you re not using a communal car; you re using someone tickets airline book online search s real car in between the spaces in which they re not using it. The start-up recently offered a new twist, as well, launching in San Francisco and Chicago: long-term car rentals from owners who are out of the country, tickets airline book online search have an extra car taking up space, or live with a grounded teenager who won t be needing their car for a while. The service is called Getaway, and it matches people with idle cars with people who need a dependable, long-term car rental but don t want to pay a month s worth of rental charges from a rental car company.
The devil will be in the details with a service like this (for example, potential renters are screened, it s good to hear), but this type of initiative could really be a nice way to add some extra income to a household budget by monetizing a lump of an asset that s currently doing nothing but racking tickets airline book online search up interest and finance charges (well, hopefully it s also getting people around town). What else do we have sitting around we re not using that could be rented? That old canoe in the garage? Bedroom furniture of a kid that went off to college? Or perhaps the video game systems of that grounded kid?
In college, tickets airline book online search I worked at a rental car company, driving cars to and from the airport, cleaning them, and wondering more often than you d think just what that smell is, and whether hazmat needs to be called. Now I m trying to imagine turning the keys of my own car over to some stranger, and whether I could trust them enough not to call the hazmat team on me. Maybe it s time I get the car washed.
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