Mutual funds see Cash Inflows Amid March Sell-Off
New England fund group says April new accounts rose 50 percent year over year signaling investor confidence in mutual funds despite market turbulence. Aggressive growth funds posted $7 billion in sales in March, a record, while stock funds overall earned a $6.7 billion net inflow. Bond funds faced $7.7 billion in net withdrawals.
MENTIONED IN THIS ARTICLE
Bruce Speca
New England Group of Funds
Investment Company Institute
Christian W. Thwaites
Aetna Mutual Funds
T. Rowe
Americans see modest rise in income and spending
U S government data show personal income up 0.6 percent in March and consumer spending up 0.4 percent, easing from February's 1.8 percent income surge and 1.3 percent spending gain. March income reached 5.63 trillion dollars, spending 4.58 trillion, with both in line with economists’ expectations as growth slows from late 1993.
MENTIONED IN THIS ARTICLE
California
Market wrapup teaser for Saturday Journal-World
Local financial notes hint at a forthcoming market wrapup in Saturday’s Journal World. Readers are urged to watch for detailed stock quotes and market trends in the upcoming issue.
MENTIONED IN THIS ARTICLE
Journal-World
Midland Elevator and futures round up prices
Local markets report morning quotes from Midland Elevator showing wheat at 3.41, corn 2.59, milo 4.17, soybeans 6.72 per bushel. Omaha quotations list hogs higher with U.S. 1-3s 43.00-44.00, sows 35.00-42.00. cattle and calves and sheep not reported. Kansas City notes a slow trade with slaughter cattle volumes around 57,500 head. steers 73.50-75.00 to 74.00, Holsteins 63.00-64.00, and heifers 73.50-75.00. Nonferrous metals and precious metals prices in New York given, with various bid values and spot quotes.
MENTIONED IN THIS ARTICLE
Midland
Omaha, Nes
Omaha
U.S
St. Joseph
St. Joserh
Kansas City, Mo
Kansas
Sprint signs multi million contracts with Hallmark and H R Block
Sprint Corp. signs three year contracts with Hallmark Cards and H R Block to provide voice 800 number video and data services worth over 6 million. Hallmark links HQ with 9,000 shops and warehouses while H R Block covers headquarters offices and 4,000 franchises. Delta Air Lines to cut up to 15,000 jobs to save 2 billion annually amid 80 million first quarter loss.
MENTIONED IN THIS ARTICLE
Sprint Corp
Hallmark Cards Inc
H&r Block
Sprint
Kansas City
David W. Dorman
Hallmark
McDonald Dr
Lawrence
Delta Air Lines
U.S
Delta
New home sales rise as housing market recovers
In March, new home sales jumped 11.1 percent to a 739,000 seasonally adjusted annual rate, the strongest gain in six months as the housing industry rebounds from harsh winter weather. The Northeast led gains, Midwest slipped, February was revised to 665,000, and analysts had expected around 700,000.
MENTIONED IN THIS ARTICLE
Washington
Midwest
Northeast
Departments of Commerce and Housing and Urban Development
U S moves to bolster dollar in currency markets
The United States announced action to support the dollar as it neared a record low against the Japanese yen. Treasury Secretary Lloyd Bentsen signaled a policy shift away from pressuring the yen to fix trade deficits, with Fed also said to have intervened to back the dollar against the German mark.
MENTIONED IN THIS ARTICLE
Washington
United States
Treasury
Lloyd Bentsen
America
U.S
Federal Reserve
GM profits climb on cost cuts and demand
General Motors reported a 66 percent rise in profits with earnings of 853 million in the first quarter of 1994, aided by cost cutting and strong car demand, though CFO G Richard Wagoner warned the company cannot rely on an overall auto industry recovery. Mortgage rates fell this week with 30-year fixed at 8.32 percent, 1-year ARMs at 5.15 percent, and 15-year loans at 7.85 percent.
MENTIONED IN THIS ARTICLE
General Motors Corp
G. Richard Wagoner
Federal Home Loan Mortgage Corp
Law panel examines check cashing reform bills
Consumer advocates told a House subcommittee that poor, pay check to paycheck people pay high fees at check cashers because banks lack basic services. Two bills were reviewed: one would require states to license check cashers, the other would offer banks a choice to cash government checks up to 1500 for non customers or provide low cost checking with at least 10 transactions monthly and no more than a 25 dollar initial deposit.
MENTIONED IN THIS ARTICLE
House
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