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Market overview for March 2014

Markets overview March 2014
Markets overview March 2014
Chun Bong Lai

March is almost over; markets are relatively the same as the beginning of March. The DJIA is up around 200 points for this month to 16,400 level - the resistance level. News for March are the following:

GrubHub orders up an IPO; US factory and spending data hint at improving economy; Chinese billionaires are growing at phenomenal rate; China sets 7.5% growth target for 2014; Facebook is in talks to buy drone maker; Safeway said to near $9 billion supermarket sale to Cerberus; Wing cracks found on dreamliers being built; Consumer credit in U.S. increased $13.7 billion in January; Economy adds 175,000 jobs, beating forecasts; Bank of America chief paid $13.1 million in 2013; eBay cuts chief executive John Donahoe's pay by 53%; Men's Wearhouse pay $65 per share to buy Jos. A. Bank; FTC opens inquiry into Herbalife; Amazon raises price of Prime membership to $99 a year; U.S. budget deficit narrows in first five months of fiscal year; number of U.S. millionaires hits new high; U.S. environmental agency drops ban on federal contracts with BP; China's Twitter "Weibo" files for $500 million IPO; GoDaddy eyes IPO; Quiznos bankruptcy; China's central bank allows its currency more volatile; New York takes London's crown as top financial center; GM recalls 1.5 million more vehicles; Factory output in U.S. rises most in six months; Yahoo gains on Alibaba IPO; Wells Fargo chief gets $19.3 million pay for 2013; Gamestop shares fall after Walmart announces competing game trade-in program; Fed will keep rates low a long time; Banks stress test 29 of 30 passed; Symantec fires CEO Steve Bennett; Mt. Gox recovers 200,000 missing Bitcoins; IRS to treat Bitcoin as property, not currency, for tax purposes; Candy Crush maker prices IPO; New-home sales fell 3.3% in February.

These are the popular news so far for March. They are mixed news - some are negative and some are positive. As markets are hitting the all-time highs again, investors should be cautious of a near-term correction.