Mortgage rates edge higher as economic strength grows
US mortgage rates rose this week with the 30 year fixed at 3.94 percent and the 15 year at 3.36 percent. Five year adjustable loans climbed to 3.35 percent as shorter terms rise faster. Unemployment aid claims fell to 236,000, jobless benefits data show a strengthening labor market. Brown University will replace all student loans with scholarships, raising $30 million to eliminate loans for undergraduates next year.
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Tech stocks surge in retirement funds and global markets
Tech stocks now dominate portfolios with Apple and Google near 24 percent of the S&P 500 in the United States and rapid gains by Tencent and Alibaba overseas. Funds focusing on emerging markets have shifted heavily toward technology, with leaders like Tencent as top holdings. Analysts warn valuations may be stretched despite strong profit growth and worldwide online growth fueling the shift toward tech.
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American Century Emerging Markets Fund
American Century Emerging Markets
Ribeiro
Momo
AAC Technologies
Morningstar
Washington
S&P 500 Breaks Loss Streak as Markets Gain Broadly
U S stock indexes rose on Thursday after a near weeklong lull. The S&P 500 gained 77 points to 2636.98, its first up day in five, with the Dow up 70.57 to 24211.48 and Nasdaq rising 36.47 to 6812.84. Russell 2000 jumped 11.59 to 1520.47 as technology led gains. Market turnover remained cautious amid tax payer and House considerations.
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