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Tyson Foods Joins Trend to Cut Antibiotic Use in Chickens

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MCDONALDS ANTIBIOTICS
April L. Brown/AP
By P.J. Huffstutter

CHICAGO -- Tyson Foods (TSN), the largest U.S. poultry producer, plans to eliminate the use of human antibiotics in its chicken flocks by September 2017 -- one of the most aggressive timelines yet set by an American poultry company.

The Arkansas-based chicken and meat giant also said it is working on ways to curtail such on-farm drug practices at its other protein businesses, which include pork and beef.

The move marks the latest push by the livestock and food industries to reduce the use of antibiotics crucial to human health in meat production.

Authorities are concerned that the routine feeding of antibiotics to animals could spur the creation of antibiotic resistant superbugs in humans, creating a health hazard.

Tyson's move, announced Tuesday morning, aims to help the company meet a deadline recently outlined by McDonald's (MCD) to have its U.S. restaurants gradually stop buying chicken raised with human antibiotics over the next two years.

But the company, a key chicken supplier to McDonald's, said in a statement to Reuters that its plans are part of an ongoing effort and "go beyond one customer."

Tyson said it is also forming working groups with independent farmers, company suppliers, veterinarians and others to talk about how to develop ideas to cut the use of antibiotics vital to fighting human infections in its U.S. beef, pork and turkey supply chains.

The working groups will begin meeting this summer.

While veterinary use of antibiotics is legal, controversy has grown over the routine feeding of antibiotics that are important to humans to otherwise healthy chicken, cattle and pigs in a bid to stave off disease and help the animals grow more quickly.

Tyson said it has already stopped using all antibiotics in its 35 broiler hatcheries and has cut human antibiotics used to treat its broiler chickens by more than 80 percent since 2011. The company said it requires a veterinary prescription when antibiotics are used on its broiler farms.

"Given the progress we've already made reducing antibiotics in our broilers, we believe it's realistic to shoot for zero by the end of our 2016 fiscal year," Donnie Smith, president and chief executive of Tyson Foods, said in a statement.

Industry Shifts

Earlier this month, The Wall Street Journal reported that Pilgrim's Pride (PPC), the nation's second-largest U.S. poultry processor, would cut all antibiotics from a quarter of its chicken production by 2019.

Rival poultry processor Perdue Farms told Reuters more than 95 percent of the chickens it produces are raised without antibiotics approved for human use, and more than half are raised with no antibiotics of any kind.

Sandwich chain Chick-fil-A in 2014 gave its producers five years to meet its commitment to go antibiotic-free for chicken. Perdue is a major supplier to Chick-fil-A.

Tyson has been working with livestock drug companies and others to test a variety of alternatives to antibiotics to protect birds, ranging from probiotics to essential oils derived from plant extracts, the company told Reuters.

However, alternatives to human antibiotics are also needed for treating ill birds, the company said. It is providing funds to help accelerate research into disease prevention and antibiotic alternatives to be used on farms.

Tyson declined to say how much the company will spend to buch such funding of livestock pharmaceuticals and alternatives.

Some poultry industry experts say the options for non-human drugs to treat certain diseases in broiler chickens can be limited, and say animal pharmaceutical firms have been slow to invest for the development of new chicken-only antibiotics.

Tyson said it plans to meet its 2017 antibiotic-withdrawal timeline, but there could be some exceptions.

"We won't jeopardize animal well-being just to get there," Smith said. "We'll use the best available treatments to keep our chickens healthy, under veterinary supervision."

 

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Case-Shiller: Home Prices Gain in February as Sales Rise

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Mortgage Rates
Marcio Jose Sanchez/AP
By CHRISTOPHER S. RUGABER

WASHINGTON -- U.S. home prices climbed at a faster pace in February than the previous month, driven by higher sales and a limited supply of available houses.

The Standard & Poor's/Case-Shiller 20-city home price index rose 5 percent in February from 12 months earlier, S&P said Tuesday. That is up from a 4.5 percent pace in January.

Faster sales likely drove the price gain. Signed contracts to buy homes jumped in February, yet the number of Americans listing their homes for sale remains low. That has led to bidding wars in some cities.

Home prices are increasing at a more sustainable pace than in the past two years, when they rose at a double-digit pace for 14 straight months. Yet some economists warn that the ongoing increases may price many would-be buyers out of the market, particularly as pay gains remain weak.

"While slow and steady growth throughout the country may sound like an unambiguously good thing, some of these markets were unaffordable to begin with and are not getting any cheaper," said Patrick Newport, an economist at IHS Global Insight.

All 20 cities in the index reported year-over-year price gains in February. Home prices in Denver jumped 10 percent, the most of any city, followed by San Francisco with 9.8 percent. Denver is one of two cities, along with Dallas, where prices have surpassed their previous peak during the housing boom. Prices nationwide are 10 percent lower than the July 2006 peak.

Some areas may remain below their bubble peaks for years. Home prices in Las Vegas plunged nearly 62 percent during the housing bust and are still 41.5 percent below their previous peak, S&P said.

The Case-Shiller index covers roughly half of U.S. homes. The index measures prices compared with those in January 2000 and creates a three-month moving average. The February figures are the latest available.

Home sales rose at a healthy 6.1 percent pace in March to a seasonally adjusted annual rate of 5.19 million, the National Association of Realtors reported last week. That suggested the housing market may be returning to solid ground as the spring buying season gets underway.

Tight Supply

Yet there aren't many homes on the market. Nationwide, the number of homes for sale is equal to 4.6 months of sales, below the six months that is typically available in a healthy housing market.

Building more new homes would help boost supply, but home construction has been weak. Developers are focused increasingly on building apartments and more expensive homes for wealthier buyers. Home builders began work on new houses and apartments at a seasonally adjusted annual rate of 926,000 in March, down 2.5 percent from the previous year.

One factor pushing up prices is a steady decline in so-called "distressed" sales, which include foreclosures and short sales. Short sales occur when the seller owes more on a home mortgage than the house is worth. Both usually sell at steep discounts to traditional home sales.

Real estate data provider CoreLogic (CLGX) said Tuesday that distressed sales fell to 13.5 percent of all sales in February, down from 16.5 percent a year earlier. Fewer lower-priced distressed sales push up overall prices.

That figure has dropped precipitously since it peaked at 32.4 percent in January 2009, during the worst of the housing bust and recession.

Still, the figures also show that the housing market is not yet back to normal. Distressed sales made up just 2 percent of all sales before the housing bust, CoreLogic said.

 

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Cigna Target of Class-Action Lawsuit Alleging Discrimination

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Major Providers As Obamacare Insurance Co-Ops Struggling With Cash Flow
Ron Antonelli/Bloomberg via Getty Images
By KELLI KENNEDY

MIAMI -- A consumer advocacy group has filed a class-action lawsuit against Cigna saying a new policy discriminates against people with HIV and AIDS and violates the federal health law by requiring them to get their medications from its mail-order pharmacy.

Consumer Watchdog filed the lawsuit Monday in South Florida federal court. It says sending the drugs through the mail puts privacy at risk because packages could end up at the wrong address or be seen by others. It also says the mail is not a reliable way to ensure people get their medications on time and prevents them from interacting in person with a pharmacist. Patients who do not obtain their medications by mail must pay full price.

The group alleges that the policy also violates the Affordable Care Act because it discourages people with HIV and AIDS from choosing that company's insurance plan by making it difficult to obtain medications.

Cigna (CI) hadn't responded to an email seeking comment by Tuesday morning.

The plaintiff is a Fort Lauderdale man referred to as John Doe in court documents. If he opts out under the policy, he would face exorbitant costs because his local pharmacy would be considered out of network, Consumer Watchdog attorney Jerry Flanagan said.

"What's the good of an insurance policy if you can't get the medications you need to stay alive when you need them or are forced to risk your health and privacy to use it," Flanagan said.

The group filed a similar lawsuit against Aetna (AET) in California late last year. Consumer Watchdog said HIV and AIDS patients had the right to opt out of mail-order programs under two similar suits it settled with United Healthcare (UNH) and Anthem Blue Cross (WLP).

One of the cornerstones of President Barack Obama's signature health law forbids insurance companies from turning away people with pre-existing conditions such as HIV or cancer. Yet hundreds of patient advocacy groups say insurance companies have found a way to discriminate against these people, who are more expensive to cover because they require lifelong treatments.

Two health organizations filed a complaint with federal health officials last summer alleging that some Florida insurance companies were putting all the HIV and AIDS medications in a special category where the patient is required to pay a percentage of the cost of the drug, rather than a flat co-pay. Some are as high as 50 percent, leaving people on the hook for thousands of dollars. That compares with the average $10 to $40 per medication co-pay that most pay.

The insurance companies have since agreed to change their prescription drug policies.

 

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What Is the Secret of Chipotle's Success?

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Chipotle GMO
Gene J. Puskar/AP
Everybody loves Chipotle Mexican Grill (CMG), and the country's cult fave burrito roller just came through with another blowout quarter. Revenue climbed 20 percent during the first three months of the year when compared against the prior year's first quarter.

Expansion has played a big part in the fast-casual chain's heady growth, but each restaurant is also more than pulling its own weight. The average eatery rang up 10.4 percent more in sales than it did a year earlier. This is the fifth quarter in a row that Chipotle has come through with double-digit year-over-year growth in comps.

What makes Chipotle so cool? What's the chain doing to make sure that it gets even hotter? There's a lot more to the Chipotle story than you might think.

Many credit Chipotle's success to its assembly line where burritos, salads and rice bowls are built up in lightning-quick fashion. However, the same can be said about nearly every player in the fast-growing realm of fast casual.

The truth rests somewhere between the "food with integrity" mantra, the addictive cilantro rice and the trendy nature of hot chains. It's working -- and working well -- but Chipotle is just getting started.

A Chip Off the Old Chipotle

Chipotle announced on Monday that it has just become the first national restaurant chain to eliminate genetically modified organisms from its ingredients. It's a gutsier call than you might think, despite it being fashionable to bash GMOs.

As even Chipotle points out in Monday's announcement, 94 percent of the corn sold in this country comes from GMO strains. Pricing pressures might drive food costs higher for Chipotle with this move, and that could be the least of Chipotle's problems. As pork fans found out earlier this year during the carnitas shortage, limiting suppliers that meet its high standards can sometimes mean having to temporarily take a popular item off the menu.

It's not the only way that Chipotle is shaking things up. Chipotle has been testing delivery through Postmates, a popular website and app that's best described as GrubHub meets Uber. The site lets drivers sign up to deliver orders from participating restaurants. It's not cheap. If you live a couple of miles away from Chipotle, it can run you about $10 on top of your order to have your chicken burrito or carnitas quesadilla brought to your door, and that's before a 9 percent service charge and a tip. However, for folks craving a Chipotle fix without the time or means to make it to the nearest outlet, it's a move that might make sense.

Moving On

Chipotle can't afford to stand still. One can argue that there's no need to fix what isn't broken, but the chain is bracing investors to expect slowing growth. It sees comparable-restaurant sales climbing in the low- to mid-single digits for all of 2015, suggesting that we're eyeing marginal comps growth after the first quarter's 10.4 percent pop.

The devotion of fans could also be tested. A springtime increase last year was the chain's first major price increase in three years, but it might not be the last. High beef prices may force another increase, so expect to pay more for your steak and barbacoa staples later this year. However, if the hungry didn't flinch at last year's increase -- and the chain's sales growth bears that out -- they probably won't have a beef with pricier beef. Chipotle still has the magic touch.

Motley Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Chipotle Mexican Grill. Try any of our Foolish newsletter services free for 30 days. Check out our free report on the Apple Watch to learn where the real money is to be made for early investors.

 

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Consumer Confidence Slides in April as Hiring Slows

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Consumer Confidence
Richard Vogel/AP
By PAUL WISEMAN

WASHINGTON -- U.S. consumer confidence fell this month to the lowest level in four months, knocked down by a slowdown in hiring.

The Conference Board said Wednesday that its consumer confidence index fell to 95.2 in April from 101. 4 in March, the lowest reading since December's 93.1.

Consumers' assessment of current economic conditions fell for the third straight month, and their expectations for the future fell as well.

Lynn Franco, the Conference Board's director of economic indicators, blamed "the recent lackluster performance of the labor market." The American economy generated just 126,000 jobs last month, breaking a 12-month streak of at least 200,000 new jobs a month; 31 states registered job losses in March.

Consumers' view of the current job market deteriorated in April. They were also more likely to say that there would be fewer jobs and that their own incomes would be lower in six months. The share saying they planned to buy a car or a major appliance within six months fell. The decline in confidence hit all age groups.

Also weighing on consumers' spirits: Gasoline prices, which tumbled to a nationwide average low of $2.03 a gallon in late January, have bounced back up to $2.55 a gallon, according to AAA. That may be dampening the desire and ability of Americans to go shopping. Still, gasoline prices were more than a $1 higher, or $3.70, a year ago.

Economists believe that overall economic growth slowed to between 1 percent and 1.5 percent in the January-March quarter. They are forecasting a rebound to growth of around 3 percent for the rest of this year. The economy grew 2.4 percent in 2014.

Consumer spending accounts for about 70 percent of U.S. economic activity. Daniel Silver, an economist with J.P. Morgan, warned in a research report that "the recent weakening in confidence raises some questions about whether we will see real consumer spending accelerate as much as anticipated."

Despite the drop this month, the confidence index is well above April 2014's 81.7.

 

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The Real Deal on Skin Care Products -- Savings Experiment

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The Real Deal on Skin Products

As we all know, skin products can get pretty expensive, but are all those fancy anti-aging, firming and hydrating ingredients really worth paying extra for? Let's peel back the layers and take a look.

First, never judge a lotion by it's price tag; a higher price doesn't always mean higher quality.
What really matters are the active ingredients, which can generally be found equally in both fancy and inexpensive creams. Some of the key ingredients you should look for are alpha-hydroxy acids -- like lactic, glycolic and citric acids -- and Retinol, which is also known as vitamin A. Some people are sensitive to Retinol, so if you fall into that category, look for other antioxidants such as vitamin C, tea and grape seed extracts and Coenzyme Q10.

Next, watch out for the exaggerated claims you'll often see advertised. Companies can promise a lot of things, but the truth is, the FDA doesn't require them to prove the safety or effectiveness of their products. What that really means is that phrases like "clinically tested and proven" don't have any industry standard and should be taken with a grain of salt.

Lastly, don't be fooled by trendy ingredients. Some companies will add ingredients that aren't truly effective only to make the product more attractive. Things like rose oil, lavender or even yogurt don't really do much except boost the price.

Before you start your next beauty regimen, keep these tips in mind, and you'll find some savings that are more than skin-deep.

View Poll

 

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FDA Warns About Another Illegal Stimulant in Supplements

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Crossfit couple posing with hands on hips
Wavebreakmedia Ltd./Getty Images
By Toni Clarke

The Food and Drug Administration is warning companies to stop selling dietary supplements that include a stimulant known as DMBA, the latest in a series of moves to clamp down on potentially dangerous weight-loss and bodybuilding products.

In an April 24 letter to one manufacturer, 1ViZN, the agency noted that its product Velocity listed AMP as a dietary ingredient. AMP is also known as 1,3-Dimethylbutylamine, DMBA, 2-amino-4-methylpentane and methyl-2-pentanamine.

The FDA said it considered Velocity adulterated because there isn't enough information to provide reasonable assurance that DMBA is safe.

[T]he FDA has now made it extremely clear to manufacturers that there is no justification to sell DMBA in supplements.

Earlier this month the agency warned five companies to stop selling dietary supplements containing a stimulant known as beta-methylphenylethylamine, or BMPEA, which is often hidden in supplements containing Acacia rigidula.

The FDA actions come amid pressure from lawmakers and a Harvard University academic, Dr. Pieter Cohen, who has been studying the presence of synthetic stimulants in supplements.

"This is extremely welcome news," Cohen said. "Rather than waiting until heart attacks, strokes or deaths are definitely linked to this new designer stimulant, the FDA has now made it extremely clear to manufacturers that there is no justification to sell DMBA in supplements."

Last year Cohen published a study showing DMBA was present in 12 supplements marketed to improve athletic performance, increase weight loss and enhance brain function. He also pointed out that products containing BMPEA were still on the market a year after FDA researchers discovered the stimulant in Acacia rigidula supplements.

DMBA and BMPEA are similar to 1,3-dimethylamylamine, or DMAA, which has already been banned by the FDA.

The FDA banned a stimulant known as ephedra in 2004. Since then, companies have tried to replace it with other stimulants purported to be natural.

"On closer review these 'natural' stimulants have turned out to be nothing other than new, untested drugs," Cohen said.

 

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Ford Profit Slips - but a 'Breakthrough' Is Still Promised

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Earns Ford
Chris O'Meara/AP
Ford (F) is still promising that 2015 will be a "breakthrough year" for profits, but that breakthrough hasn't come quite yet.

Ford reported a net profit of $924 million for the first quarter. That was a bit less than it earned a year ago, and a bit less than Wall Street had expected.

Ford shipped fewer cars and trucks during the first quarter, and its revenue was down. But behind the unimpressive numbers is a good story: Ford is still on track for a very big gain later in the year.

Supplies of the F-150 Still Tight

So often with Ford, the story starts with its huge-selling F-150 pickup. The F-150 is arguably Ford's most important product, anywhere in the world -- and any shortage of F-150s is likely to hit Ford's bottom line hard.

That's exactly what happened in the first quarter. Ford makes the F-150 in two factories, and converting those factories to build the all-new aluminum-bodied truck has been a complex and expensive process.

The first of those factories to be converted, Ford's Dearborn, Michigan, plant, started building the new truck at the end of November. But the second factory, near Kansas City, was closed for much of the first quarter as Ford made the extensive renovations needed.

That made a big dent in supplies. In an interview, Ford Chief Financial Officer Bob Shanks said that wholesale deliveries -- shipments to Ford's dealers -- of the new F-150 were down 40 percent from Ford's F-150 shipments in the first quarter of last year. Ford's overall pickup sales were actually up slightly during the quarter, but that's because dealers were selling down the last of their 2014-model trucks.

That drop in wholesale shipments cost Ford quite a bit of money. A similar (but simpler) transition is going on with Ford's Edge SUV. There's an all-new model that has just begun shipping to dealers, but meanwhile the dealers are mostly sold out of the older version. Ford's shipments of the Edge were down by more than 50 percent, Shanks said, and sales dipped sharply. Both should recover soon.

But there's good news, too. The F-150s that have reached dealers so far have been selling quickly, and at great prices. And Ford's Mustang, new last year, is also selling very well and generating great profits. Once dealers have good supplies of the new F-150 and Edge -- this summer -- Ford's earnings should jump.

Similar Stories Around the World

This story has been playing out for a while, and it's being repeated in other parts of the world. Ford's newest products are generating more profits per sale than the cars and trucks they replace, but the process of launching new products creates shortages that hurt Ford's profits in the short term.

For instance, Ford dealers in China are also waiting for the new Edge, and for a new Chinese version of the big Taurus sedan. Ford will begin building both in an all-new factory in China later this year. Meanwhile, Ford is working on increasing production at its other Chinese factories: For a while last year, demand for Ford's cars and SUVs exceeded supply. That was a nice problem to have, but it was still a problem.

Ford recently bought a factory from a Chinese automaker, and it's planning a new round of construction, all to keep up with booming demand in the world's largest car market.

In Europe, dealers are just starting to get good supplies of the new Mondeo sedan, a near-twin of the Fusion that Ford began producing in Spain a few months ago. Ford lost money in Europe in the first quarter, but it expects better results later this year as -- again -- more new products start to arrive at dealers.

But the good news is that when those new products do show up, Ford's results shine. In Brazil, where tough economic conditions have taken a bite out of new-car sales, Ford has gained market share and boosted its per-sale profits with its all-new Ka.

The Ka is a small sedan, one size smaller than Ford's Fiesta. It's very popular in South America. Ford introduced an all-new version of the Ka in the second half of last year, and it's selling very well -- and earning more money per sale than the old version.

Later this year, Shanks said, Ford will roll out a version of the Ka, renamed "Figo," to customers in India. The new Figo will be built at an all-new factory that, once again, is expected to start production in the second half of the year -- when it's expected to boost Ford's profits in that part of the world, too.

Ford Still on Track for Big Gains

Shanks and Ford CEO Mark Fields reiterated Tuesday that they expect Ford's pre-tax profit for the full year to come in between $8.5 billion and $9.5 billion, far ahead of the $6.3 billion it earned in 2014.

They're very confident that the investments that Ford is making now will lead to big profits later in the year. As long as the U.S. economy stays on track, the second half of 2015 should bring a lot of good news for Ford investors.

Motley Fool contributor John Rosevear owns shares of Ford. The Motley Fool recommends and owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. Check out The Motley Fool's free report on one great stock to buy for 2015 and beyond.​"

 

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Corinthian Students Face Difficult Choices After Shutdown

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Corinthian Closures
Christine Armario/APStudents wait outside Everest College, Tuesday, April, 28, 2015 in Industry, Calif., hoping to get their transcriptions and information on loan forgiveness and transferring credits to other schools.
BY CHRISTINE ARMARIO

INDUSTRY, Calif. -- Students lining up at now-closed Corinthian Colleges are being told that if their credits are transferred to another school they won't qualify to have their loans discharged.

That puts many in a difficult situation: If they find a college willing to accept their credits, they may still have to redo many of the classes and continue to be saddled with debt.

Students gathered Tuesday at Corinthian subsidiary Everest College in Industry, California, were greeted by other for-profit schools that offered to look at their coursework. But several students say they've lost faith in for-profit trade schools that have come under scrutiny for misleading advertising on job placement after graduation.

Corinthian Colleges announced Sunday it was shutting down its remaining 28 ground campuses, displacing about 16,000 students.

 

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Market Wrap: Dow, S&P 500 Rise on Merck, IBM; Nasdaq Slips

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Financial Markets Wall Street
Richard Drew/AP
By Caroline Valetkevitch

NEW YORK -- The Dow and S&P 500 ended a volatile session higher on Tuesday, helped by strong earnings from Merck and gains in IBM after it boosted its dividend, while the Nasdaq fell with Apple.

Adding to volatility just before the close, shares of Twitter (TWTR) dropped as much as 24 percent after its results were published early. The stock closed down 18.2 percent at $42.27.

IBM (IBM) shares rose 1.9 percent to $173.92, giving the Dow its biggest boost. The company hiked its quarterly dividend by 18 percent, the biggest increase in five years. Shares also closed above their 200-day moving average, a bullish technical signal.

There continues to be the bull-bear push, even with the good numbers you saw from Merck.

Apple (AAPL) swung between gains and losses a day after reporting results. The stock hit a record high in early trading but shares ended down 1.6 percent at $130.56, weighing on the Nasdaq.

"There continues to be the bull-bear push, even with the good numbers you saw from Merck," and other companies, said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.

"Apple's numbers were phenomenal, but yet the stock is down," he added. "I think people were expecting a blowout quarter ... so it's kind of a sell-the-news situation."

The Dow Jones industrial average (^DJI) rose 72.17 points, or 0.4 percent, to 18,110.14, the Standard & Poor's 500 index (^GSPC) gained 5.84 points, or 0.28 percent, to 2,114.76 and the Nasdaq composite (^IXIC) dropped 4.82 points, or 0.1 percent, to 5,055.42.

Merck (MRK) jumped 5 percent, its biggest percentage increase since January 2014, after reporting better-than-expected results and releasing favorable data late Monday about the safety of its Januvia diabetes drug.

Whirlpool (WHR) fell 7.1 percent to $183.70, the biggest percentage decliner in the S&P 500, after the company cut its 2015 profit and sales forecast, blaming the strong dollar and Brazil's stagnating economy.

Earnings Season

U.S. first-quarter earnings are now on track to post a slight gain after the mostly stronger-than-expected results, defying forecasts for the first profit decline since 2009, Thomson Reuters (TRI) data showed.

Contributing to day's volatility, Iranian Revolutionary Guards forces boarded a Marshall Islands-flagged cargo ship in the Gulf, U.S. officials said. That spurred a brief rally in oil prices.

Investors await the outcome of a two-day Federal Reserve meeting that ends Wednesday, hoping for clues on when the central bank will hike interest rates.

Helping the market early in the session, U.S. single-family home prices rose more than expected in February from a year earlier, according to a survey.

Advancing issues outnumbered declining ones on the NYSE by 1,906 to 1,121, for a 1.70-to-1 ratio; on the Nasdaq, 1,657 issues rose and 1,065 fell, for a 1.56-to-1 ratio favoring advancers.

The S&P 500 posted nine new 52-week highs and no new lows; the Nasdaq composite recorded 63 new highs and 39 new lows.

About 6.6 billion shares changed hands on U.S. exchanges, above the 6.3 billion daily average for the month to date, according to BATS Global Markets.

What to watch Wednesday:
  • The Commerce Department releases first-quarter gross domestic product at 8:30 a.m. Eastern time.
  • The National Association of Realtors releases pending home sales index for March at 10 a.m.
  • The Federal Reserve policymakers meet to set interest rates, release statement at 2 p.m.
Earnings Season
These selected companies are scheduled to release quarterly financial results:
  • ADT (ADT)
  • AMC Entertainment (AMC)
  • Anthem (ANTM)
  • Ashland (ASH)
  • Baidu (BIDU)
  • Barclays (BCS)
  • Boston Beer Co. (SAM)
  • Carlyle Group (CG)
  • Cedar Fair (FUN)
  • Con-way (CNW)
  • Deutsche Bank (DB)
  • Fiat Chrysler Automobiles (FCAU)
  • Garmin (GRMN)
  • General Dynamics (GD)
  • Goodyear Tire & Rubber (GT)
  • GrubHub (GRUB)
  • Hess (HES)
  • Hilton Worldwide (HLT)
  • Humana (HUM)
  • International Paper (IP)
  • La Quinta Holdings (LQ)
  • Level 3 Communications (LVLT)
  • Marriott International (MAR)
  • Mastercard (MA)
  • Mondelez International (MDLZ)
  • Norfolk Southern (NSC)
  • Northrop Grumman (NOC)
  • Pacific Gas & Electric Co. (PCG)
  • Pilgrim's Pride (PPC)
  • Praxair (PX)
  • Southern Co. (SO)
  • Spirit Airlines (SAVE)
  • Starwood Hotels & Resorts Worldwide (HOT)
  • Time Warner (TWX)
  • Valeant Pharmaceuticals International (VRX)
  • Vertex Pharmaceuticals (VRTX)
  • Williams Cos. (WMB)
  • Yelp (YELP)

 

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6 Tips to Make You Happier Financially

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I am rich! Happy young businessman in formalwear throwing money up while sitting near the case full of paper currency
Shutterstock
"Money doesn't buy happiness and it doesn't guarantee happiness, but it impacts your happiness in a huge way," says Donna Skeels Cygan, a certified financial planner, owner of Sage Future Financial in Albuquerque, New Mexico, and author of "The Joy of Financial Security."

To write her book, Cygan spent six years researching psychological studies, economics, neuroscience and international studies on the impact of poverty.

"I became fascinated by the idea that while 50 percent of our happiness is controlled by genetics and 10 percent is environmentally controlled by things like whether you grew up in poverty or in a big town or a small town, 40 percent of our happiness is completely within our personal control," she says.

She believes that taking small, sustainable steps such as these toward financial security is the best way to feel more in control of your money and your happiness.

1. Spend Your Money on Experiences, Not Things

"Researchers have found that when you buy a new car you get short-term, temporary happiness, but if you focus on strengthening your relationships with your friends and family and shared experiences, you'll have greater long-term happiness," says Cygan. She recommends spending money to take a friend to lunch, attend a concert, visit a museum or even travel -- if your budget can accommodate it.

"One of the best things you can do is to organize a family reunion and to splurge to bring the family together," she says. "Often the older generation will have the means to pay for the younger generation, and the reward is greater happiness for everyone."

2. Spend Your Money to Improve Your Health

Cygan says your physical health should be a high priority, so she says it's smart to spend money on, say, a cooking class so you learn to eat healthier food and then spend less on eating out. Depending on your budget, she suggests hiring a personal trainer or signing up for fitness classes.

3. Simplify Your Life and Your Finances.

Cygan cites "The Life-Changing Magic of Tidying Up" by Marie Kondo as inspiration for her suggestion that decluttering your home and your office and spending less money on things like shoes and clothes can be beneficial to your bank account as well as to your mental health.

"When you look at your home and find it cluttered with things you've bought, it can be a wakeup call to spend your money on saving and investing for financial security instead of things," she says. "It can help you push back on the idea of 'keeping up with the Joneses' and recognize that living within your means is an important value to share with your family."

Cygan says simplifying your finances is equally important. "There's no reason to have 13 bank accounts or to have scattered retirement accounts from several jobs. It's best to consolidate everything so you truly know what you have and can take an organized approach to your finances."

4. Change Your Routine

Cygan says that stepping off the treadmill of work and errands to go someplace for a day trip or to try a new volunteer activity can bring emotional and financial benefits. "Trying something new can pay off in the long run because you've opened yourself to new experiences that can enrich your life and perhaps even enhance your career in an unexpected way. Even if you have to spend a little money to indulge yourself, that can be a good thing."

5. Be Generous

Cygan says that whether you volunteer your time or write a check, being generous to those who are less fortunate can bring you greater happiness than spending money on yourself. "A reward center in your brain lights up when you're doing something for someone else."

6. Pay Attention to Your Life, Your Friends, Your Money

Cygan says a lot of money gets wasted when people buy things or sign up for services and then forget about them. "Everyone is so busy, but if we stop to pay attention to how much we're spending on unnecessary things and focus more on things that make us happy such as being with friends or nurturing our creativity, we'll be financially better off and more content."

Michele Lerner is a Motley Fool contributing writer. Try any of our Foolish newsletter services free for 30 days. Check out The Motley Fool's free report on one great stock to buy for 2015 and beyond.​

 

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Say Goodbye to These 3 Products in 2015

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StudioEgo/FlickrInternet Explorer is on its way, challenged by browsers like Firefox and Chrome and replaced by Microsoft's Spartan.
Very few products last a lifetime in our hypercompetitive free-market society. Even the most popular goods can be yanked from circulation due to the wrong combination of circumstances, or to falling behind a market that's moved past them.

2015 is still young, but already we've had a few notable products get put on the chopping block. Here are three you won't be able to obtain now or in the very near future.

Microsoft Internet Explorer

Many thought we'd never see the end of this famous piece of software, Microsoft's (MSFT) long-standing Internet browser.

With the latest overhaul of its iconic Windows operating system, the company will haul away Internet Explorer as its operating system's default e-surfing tool. In its place will be a new product, code-named "Project Spartan."

In contrast to Explorer -- which only seemed to evolve its feature set when rivals like Mozilla's Firefox or Google's (GOOG) (GOOGL) Chrome added functionality -- Spartan will boast numerous ahead-of-its-time features.

These include mark-up tools that will allow users to directly annotate pages, and tight integration with the company's popular "digital personal assistant" Cortana.

Microsoft promises a fast browsing experience with Spartan. If this is true, it will come as a relief to a great many Web surfers. Internet Explorer was never a particularly beloved product, not least because its design left it relatively more open to malicious hacking.

In spite of its demise, Internet Explorer is still some time away from disappearing entirely. The company says it will still be available as a non-default option in Windows 10 for those who don't want to make the technological leap to Spartan or are simply feeling nostalgic.

The new operating system is slated to be released later this year.

The Wall Street Journal Sunday

Between hardcore financial professionals and those completely disinterested in the pursuit of money lies a casual audience happy to read light business news and feature stories.

At least, that was the thinking behind The Wall Street Journal Sunday, a Rest Day version of the business world's newspaper of record currently owned by News Corp (NWSA). Launched in 1999, it was distributed as a supplement in the Sunday editions of the Journal's partner newspapers.

It obviously reached that happy-medium audience: At the peak of its success it was included in 84 of those publications, which collectively were distributed to almost 11 million homes.

It managed to hang in there for quite a while, but life has been a struggle for hard-copy newspapers competing for advertising dollars with online media in the digital age.

The Wall Street Journal Sunday just couldn't make it. At the time of its demise this past February, the product's presence had shrunk to 67 papers and just over 6 million homes.

The once-per-week supplement wasn't the only Journal spinoff getting the ax: Around the same time its end was announced, the paper also pulled the plug on its Wall Street Journal Radio Network.

Those who want a side of the Journal with their Sunday brunch don't have to despair, though: A weekend edition is published and distributed every Saturday.

Taco Bell's Waffle Taco

Is it possible to get rich packing several great breakfast staples into a single Tex-Mex fast-food item? Yum Brands (YUM) obviously believed so. Early last year its Tex-Mex chain Taco Bell entered the breakfast segment, in an attempt to grab some of the business dominated by McDonald's (MCD).

One signature product in the company's early-morning efforts was the Waffle Taco, featuring the namesake breakfast carb encasing scrambled eggs and cheese, plus your choice of sausage or bacon.

Overall, Taco Bell breakfast was a hit. The restaurant chain reported year-over-year comparable-store sales growth of 6 percent in its latest quarter, which was due in no small measure to its morning offerings.

However, judging by the company's emphasis on the success of another breakfast item, the A.M. Crunchwrap, sales of the Waffle Taco were comparatively weak. So without much fanfare last month, the company swapped it out for a new offering.

Well, maybe "tweaked it" would be the more appropriate description. Filling its slot is the Biscuit Taco, with a choice of fillings including eggs, sausage, deep-fried chicken, and jalapeno honey sauce. Holding this agglomeration in place is -- yes -- a flat biscuit folded into a taco shape.

The company surely hopes the new item will help crank its breakfast segment's earnings even higher. We'll see how much of an impact biscuit aficionados will make on that ambition.

Motley Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Google (A and C shares) and McDonald's, and owns shares of Google (A and C shares). Try any of our Foolish newsletter services free for 30 days. Check out The Motley Fool's free report on one great stock to buy for 2015 and beyond.​

 

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4 Ways to Deal With Medical Debt

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Medical debt can be crushing: 43 million Americans have overdue medical debt on their credit reports. If you have health insurance, the deductibles can be high: For families with a bronze health plan, the average deductible is $10,545. Given that 62 percent of Americans do not have enough money saved to handle a $500 emergency, medical debt can quickly become a big problem.

The problem is even worse for the 12.9 percent of people who do not have health insurance. If you enter an emergency room without insurance, you are going to be charged obscenely high rates. It is not uncommon for people to leave the hospital with $100,000 or more in medical bills. If you find yourself in a medical emergency, here are four things to consider to help manage the situation.

1. Try to Reduce the Bill When It First Arrives

If a big hospital bill arrives that you cannot afford, you should immediately try to negotiate the rate down. Nonprofit hospitals are required to offer financial assistance programs. But even for-profit hospitals are often willing to agree to a payment plan. But you need to talk to the hospital right away to take advantage of any program that it offers.

Professional, for-profit companies will negotiate your medical bill on your behalf. They will often charge by taking a percentage of your savings. You may want to shop around and hire someone to help you negotiate, if you don't feel comfortable yourself.

2. Negotiate a Full and Final Settlement With a Collection Agency

If you do not pay your bill, the hospital or doctor often turn over that debt to a collection agency. The agency will put a negative record on your credit report and begin calling you. The negative item can have a big impact on your score.

Once a medical debt is placed on your credit report, the damage is done. Whether you pay off the debt or not, the impact to your credit score will be the same. In other words, there is no benefit to your score to pay the bill. This will be changing with FICO 9, but for now paying off the debt will not improve your score.

The debt collection agency can sue you and garnish your wages. Paying your debt will not improve your credit score, but it may help you avoid being sued.

If you plan on paying the debt collection agency, you should negotiate hard and agree to a full and final settlement. Most collection agencies want to get you to sign up to a monthly payment that will last forever. But your goal should be to agree a full and final payment that ends all future collection activity. And make sure you get any deal in writing, before you pay.

If you can't afford a lump-sum payment, try to negotiate a reduced sum and monthly payments. And get that in writing -- including the end date of the settlement -- before you start paying.

3. If You Need Financing, Look for the Lowest Interest Rate

Doctors usually offer financing, but usually at very high interest rates. There are two options to get the lowest interest rate.
  • Consider opening a credit card with a 0 percent purchase offer. One of the best deals around is from Citi, which offers 0 percent for 21 months on purchases with Citi Simplicity. If you apply and make the payment with that card, you will have 21 months to pay off the medical debt with no interest. However, you need excellent credit to qualify.
  • You can also consider a personal loan. Interest rates can be as low as 4.25 percent. With most lenders, you can check your rate without hurting your credit score. You can have the cash deposited into your checking account and then pay the hospital directly. You can find a list of personal loan companies at MagnifyMoney, my website.
Don't rush into a high-interest loan to pay a medical bill. Once you get into payday or title loan traps, they can be incredibly difficult to escape. It is much better to buy yourself time by negotiating with the hospital. In parallel, you should look for lower cost ways to finance the emergency.

4. Remember That Bankruptcy Is an Option

Medical debt can usually be extinguished with bankruptcy. For some people, this may be the best option if the hospitals refuse to reduce its pricing. For example, a Reddit user described a situation where he made $40,000 annually and had over $200,000 of medical debt. He had paid $30,000 of the debt using his emergency savings. And the hospitals refused to reduce the total bill.

If your medical debt is more than 50 percent of your annual gross income, you should consider bankruptcy. And if your debt is more than 100 percent of your salary, it may be your only viable option.

But, before filing for bankruptcy, you should let the hospital know that you are going to file bankruptcy. At that point, the hospital may negotiate for something then, rather than getting nothing later.

Bankruptcy should not be taken lightly. Your credit score will be destroyed for years. And the law will make it nearly impossible if you can actually afford to pay the medical debt. Bankruptcy is best positioned for people who will never be able to pay off their medical debt.

And Buy Health Insurance

If you don't have health insurance, you are taking a very big risk. You can no longer be rejected for pre-existing conditions. Although the monthly insurance premiums may be high, the cost of a big medical emergency can be catastrophic. Even a high-deductible plan is a better way to protect against a big, unexpected risk than having no insurance at all.

Nick Clements is the co-founder of MagnifyMoney, a price comparison and financial education website. You can follow him on Twitter @npclements.

 

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Time-Saving, Worry-Reducing Tech Products for New Parents

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Being a new parent can be an exciting and terrifying thing. Babies need constant supervision during the day, sleep becomes a precious commodity at night, and it seems nearly impossible to know whether they have a run-of-the-mill cold or if something is seriously wrong.

Technology can't make those stresses go away, but it can ease some of them for new parents. Here are four exciting new products that could save time, stress and even money for new parents. These products might not be right for everyone, but knowing what products could make your life easier as a parent is valuable, even if it means sleeping just a little better at night.

Baby Bottles Made Easy

Kuerig has made coffee as simple as pushing a button, and that technology has now made its way to baby bottles.

The Baby Brezza Formula Pro ($160) will heat water to body temperature, mix it with baby formula and fill a bottle in as little as 14 seconds. No need to scoop formula, microwave it for just the right amount of time, or even test the temperature. The bottle is filled and ready to go.

For older babies, the Baby Brezza One Step Baby Food Maker ($100-$110) will steam and blend fresh fruits, vegetables and meats with the push of a button. Not only can this make healthier foods, Baby Brezza claims it can save parents $500 to $1,300 per year in the cost of pre-packaged foods.

Baby Monitors Do More

Wondering whether your baby is sleeping, crying, or even breathing properly? The amount of time spent worrying about a baby in another room is incredible for parents, and it's why baby monitors have become a staple. Baby monitors were at first listen-only products that didn't tell you much more than whether a baby is crying. Many of today's monitors do more.
  • The Mimo monitor ($200 for the monitor and three kimonos) will track the baby's breathing, body position and skin temperature, sending you alerts if something is potentially wrong. Simply having this data wasn't possible just a few years ago, and now it's available on your phone with the ability to wake you if something is wrong in the middle of the night. A product like the turtle-shaped Mimo could help put your mind at ease and help you sleep better.
  • A line of monitors from iBaby ($110 to $200) allow you to watch your baby through a smartphone app and even record images as they happen.
  • Withings' baby monitor will track room temperature, humidity and noise -- plus movement of your baby. That's information that parents used to just guess at. It's also available for viewing on a smartphone, meaning you can watch your baby from miles away.
A Stroller That Won't Make You Look Like a Fool

We've all seen that parent at the park or the mall struggling to get a stroller out of a car, unfold it and pack in the essentials needed for a walk with baby. But strollers are improving for parents.

The 4Moms Origami stroller not only folds and unfolds itself with the push of a button, it will charge your phone and tell you how far you've walked on a built-in LCD display. The folding feature makes it easy to take out of a car and set up, while the odometer and phone-charging features are nice add-ons that add a little more functionality to a once clumsy device.

Spending $850 on a stroller isn't for everyone, but this is a glimpse of where devices that have always been a little under-engineered may be heading.

Motley Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Keurig Green Mountain. Try any of our Foolish newsletter services free for 30 days. Check out our free report on one great stock to buy for 2015 and beyond

 

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Your Next Car Won't Drive Itself - but That's Coming Soon

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GoogleGoogle's prototype self-driving car is cute and different. But the first real self-driving cars will probably look a lot like the cars we have today.
It still sounds like something from the distant future, but cars that can drive themselves could be showing up at dealers before long.

Google (GOOG) (GOOGL) has made headlines for a few years now with a cutesy-yet-futuristic prototype that it's using for research. It almost looks more like a cartoon kitten than it does like the cars we have today. All it needs are ears and a purr.

Google's vision of the car of the future is probably far-fetched, though. The first self-driving cars we'll actually be able to buy will almost certainly look a lot like today's luxury cars.

In fact, some limited self-driving technology is already on the market, and more is coming soon. But even though the technology is now very advanced, fully self-driving cars won't be coming to market for a while yet. Here's why.

The Biggest Roadblock to Self-Driving Cars Isn't Technology

The technology needed to enable a car to safely drive itself is super-advanced. Cars will have to have new kinds of sensors and cameras, experts say -- and a whole lot of new computer power, with a whole lot of software.

A lot of the required technology already exists. Some of it is already being incorporated into new cars. Here's the hard part: the legal questions.

But that might be the easy part. In fact, a lot of the required technology already exists. Some of it is already being incorporated into new cars.

Here's the hard part: the legal questions. If a self-driving car gets into an accident, who's responsible? Or put more broadly, what kinds of rules will be needed to decide who's responsible? Those rules don't exist yet. Figuring out the new rules of the road is a task that will require input from industry experts, state and federal regulators, and political leaders.

Much remains to be done, and it could take years. But some of the work has already started. Back in 2013, the National Highway Traffic Safety Administration released a policy guiding what it calls "vehicle automation," giving states some recommendations for rules and laying out a good framework for thinking about self-driving technology.

One thing that policy makes clear: While fully self-driving cars are still in the future, there's already quite a bit of "self-driving" technology on the market. But getting from the technology we have to fully self-driving cars will be a long, complicated process.

Some Self-Driving Tech Is on the Market, and More Coming Soon

NHTSA's policy distinguishes five levels of vehicle automation, from Level 0 (a low-tech car with a human driver) to Level 4, a car that is fully capable of driving itself anywhere.

Level 1 and Level 2 have been here for a while. These include cars with features like electronic stability control (Level 1) and the latest "adaptive" cruise control systems that will automatically keep you in your lane and at a safe distance from the car in front of you while on the highway (Level 2).

Level 3 is where it starts to get interesting. A Level 3 car can drive itself -- but only under certain conditions, and always with a human driver ready to take over when needed. Mercedes-Benz's latest Intelligent Drive system, which can fully control the car in stop-and-go highway traffic, or Tesla's (TSLA) Autopilot, which will allow drivers to take their hands off the steering wheel during highway cruising, are examples of Level 3 systems.

There will be a lot more Level 3 cars on the market soon. General Motors (GM), Audi and BMW (BAMXF) are all expected to launch systems that can do the driving under some highway conditions in the next year or two. Ford (F), BMW and Tesla have all shown or announced systems that will park a car without a driver on board.

These kinds of systems are coming. Initially, they'll be featured on expensive luxury cars, but they'll make their way to mainstream models pretty quickly. Your next new car might have one.

But Level 4 -- the system that drives the car to wherever you want to go, under any conditions -- is probably still quite a ways off. That's partly because of the still-unresolved legal questions. But it's also because the technology, good as it is, isn't good enough yet.

Why Fully Self-Driving Cars Are Still a Ways Off

Here's the challenge with Level 4: The system just has to work, period. Every time.

Today's technology is probably sufficient to build a self-driving car that mostly works, most of the time. That's not good enough. Imagine a car company that released a self-driving system that worked perfectly 9,999 times out of 10,000 -- but then it had an accident.

That's not good enough for Americans (or anyone else) to trust the technology. But getting from "mostly works" to "works every time" probably won't require any huge new technological breakthroughs.

Instead, it'll require testing, refinement, and more testing -- enough testing to convince the regulators, and the automakers' legal departments, that it's safe enough to go public. And just like the rule-making that will be needed before we set self-driving cars loose on American roads, the testing and refinement is likely to take several years, at least.

Motley Fool contributor John Rosevear owns shares of Ford and General Motors. The Motley Fool recommends BMW, Ford, General Motors, Google (A and C shares) and Tesla Motors. The Motley Fool owns shares of Ford, Google (A and C shares) and Tesla Motors. Check out The Motley Fool's free report on one great stock to buy for 2015 and beyond.​

 

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Economy Stalls in 1Q as Weather, Lower Energy Prices Bite

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Economy GDP
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By Lucia Mutikani

WASHINGTON -- U.S. economic growth braked more sharply than expected in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices slashed spending, but there are signs activity is picking up.

Gross domestic product expanded at an only 0.2 percent annual rate, the Commerce Department said Wednesday. That was a big step down from the fourth quarter's 2.2 percent pace and marked the weakest reading in a year.

A strong dollar and a now-resolved labor dispute at normally busy West Coast ports also slammed growth, the government said. The weak growth, though probably temporary, reduces the chances of a June interest rate hike from the Federal Reserve.

A stalling of U.S. economic growth at the start of the year rules out any imminent hiking of interest rates by the Fed.

"A stalling of U.S. economic growth at the start of the year rules out any imminent hiking of interest rates by the Fed," said Chris Williamson, chief economist at Markit in London.

Economists polled by Reuters had forecast the economy expanding at a 1 percent rate.

The dollar fell to an eight-week low against a basket of currencies after the report. The yield on the benchmark 10-year U.S. Treasury note retreated from a six-week high.

The sharp growth slowdown probably isn't a true reflection of the economy's health, given the role of temporary factors such as the weather and the ports dispute.

The first-quarter GDP snapshot was released just hours before Fed officials conclude a two-day policy meeting. Policymakers at the U.S. central bank are expected to acknowledge the softer growth, but shrug it off as temporary in a statement they will issue after their gathering.

While there are signs the economy is pulling out of the soft patch, data on home building, manufacturing, retail sales and business investment suggest the rebound will lack the vigor seen last year when the economy snapped back after being blindsided by cold weather.

At the start of this year, many economists believed the Fed would raise interest rates from near zero in June. Now, most of the guessing centers around September.

Hibernating Consumers

The government didn't quantify the impact of the weather, the strong dollar, lower energy prices and the ports disruptions on growth last quarter.

Economists, however, estimate unusually cold weather in February chopped off as much as half a percentage point, with the port disruptions shaving off a further 0.3 percentage point.

The weather impact was evident in weakness in consumer spending. Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, slowed to a 1.9 percent rate. That was the slowest in a year and followed a brisk 4.4 percent pace in the fourth quarter.

The sharp moderation in consumer spending came even though households enjoyed huge savings from a big drop in gasoline prices. Consumers boosted their savings to $727.8 billion from $603.4 billion in the fourth quarter.

Construction also took a hit from the weather, while lower energy prices, which have cut into domestic oil production, undermined business investment.

Spending on nonresidential structures, which includes oil exploration and well drilling, tumbled at a 23.1 percent rate. That was the fastest pace of decline in four years and marked the first contraction since the first quarter of 2013.

The decline in nonresidential structures was driven by mining, exploration, shafts and wells, which plunged at a 48.7 percent pace in the first quarter.

"The downward pressure on profits, the large drop in oil-related investment and the strong dollar are holding back the U.S. economy," said Gad Levanon a managing director at the Conference Board in New York.

Schlumberger (SLB), the world's No. 1 oil-field services provider, has slashed its capital spending plans for this year by about $500 million to $2.5 billion, while competitor Halliburton (HAL) cut its by about 15 percent to $2.8 billion.

While companies have not given a time frame, economists believe the bulk of the spending cuts were front-loaded into the first quarter, and they expect energy-related investment cuts will present less of a drag on growth in the April-June quarter.

The dollar, which gained 4.5 percent against the currencies of the United States' main trade partners in the first quarter, weighed on trade, as did the West Coast ports dispute. Trade subtracted 1.25 percentage points from first-quarter GDP growth.

The dollar is expected to remain an economic headwind in the quarters ahead. Economists estimate it will reduce growth by 0.6 percentage point this year.

There was a surprise increase in inventory accumulation, which added 0.74 percentage point to GDP growth.

Inventories increased $110.3 billion from $80 billion in the fourth quarter. But the jump suggests inventories will weigh on growth in the second quarter.

 

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9 Helpful Apps, Sites That Make Summer Vacation Cheaper

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Eric Audras
Planning ahead for a summer vacation may be the best way to save money by booking hotels and flights in advance, but there are plenty of ways to save and get around during a vacation with apps that make being on-the-go easy.

The big ones you probably know about already. If you're looking for a good local restaurant, Yelp is there for you. GasBuddy.com can help find the cheapest gas station nearby. Uber and Lyft can be hailed from your phone to get you across town.

But there are many lesser-known apps that can help you save money during summer vacation, and can just make vacation a lot more fun by not spending any money on certain activities. Here are nine that are all free:

1. Free Wi-Fi Finder

When you land in a new city, you can feel helpless without Internet access. Your phone can find networks for you to jump on for free, but the Free Wi-Fi Finder by JiWire makes it easier by not only searching free hotspots near you, but it allows you to search anywhere in the world, either online or offline. You'll know where to go for free Wi-Fi long before you arrive.

2. AutoSlash.com

This website, which doesn't have an app, is readable enough on a smartphone that a rental car can be reserved from anywhere. It sticks out from the crowd because after searching for rental prices and then picking one to book, AutoSlash emails you if the price drops before your trip. It automatically rebooks you at the lower price, and you can cancel your reservation. It should end the headache of constantly looking for better deals after you've reserved a car.

3. Hotels.com

There are plenty of ways to find inexpensive hotels while on-the-go, but I like this one because it has great last-minute deals and has mobile-only hotel coupons that can only be redeemed from a phone or app. It currently has a coupon for 10 percent to 50 percent off last-minute deals, and a half-off deal of the day coupon.

4. IFTTT

This is one of my favorite ways to set reminders and save money in small ways, and it can come in handy during vacation. IFTTT (which stands for "if this, then that") lets you create recipes -- or connections between products and apps. For example, you can set a reminder to be sent to your phone when your check engine light comes on. Set an alarm for 30 minutes before sundown to catch every sunset. Turn your home smart-lights on and off. If you take a photo with Instagram, you can set it up so that the photo is saved in Dropbox. There are endless ways to use this during summer vacation.

5. Vayable

This fun website lets you travel like a local by buying excursions a local resident will lead you on, or at least get you started. Meet a local resident in Amsterdam for $14 over beer, and she will give you her best tips for places to visit. Skip the line at the Louvre in Paris for $75 and get a one-hour tour of the highlights before being released on your own. I've written about Vayable also being an option to earn extra money in your city, though living in or near a major global city will likely lead to more paying customers.

6. FindGravy.com

Discover what the locals are doing at FindGravy.com, a site that pinpoints where you are and shows you what events are nearby. You can search by date, such as today or the entire weekend, or by what type of activity you're looking for. You can look before you go on your trip and save items to view later.

7. SitOrSquat

This site from Charmin is the ultimate bathroom app, with thousands of locations across the country so you can plan your pit stops with ease. "Sit" locations are cleaner, while "squats" leave something to be desired.

8. OandA Currency Converter

If you're traveling internationally, converting currencies in your head can be painful. The OandA Currency Converter stands out among other currency converters with its sleek styling and quick ability to factor the typical ATM rate of 2 percent or credit card rate of 3 percent into the conversion.

9. Google Translate

When your Rosetta Stone education falls short, Google Translate can quickly become your pocket-size interpreter. It can rapidly translate whole paragraphs of text or the spoken word. Simply say a phrase in English, and it will repeat your words in the foreign language of your choice.

 

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Pending Home Sales Rise as Spring Buying Season Heats Up

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Mortgage Rates
Bill Sikes/AP
By JOSH BOAK

WASHINGTON -- More Americans signed contracts to buy homes in March, the third straight month of gains as housing heats up with the start of the spring buying season.

The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 1.1 percent to 108.6 last month. The index has climbed 11.1 percent over the past 12 months after having dipped in 2014.

Pending sales improved in the South and West. But the number of signed contracts fell in the Northeast and Midwest, two areas that many economists expected to show rebounds after a harsh winter hurt sales at the beginning of 2015. The overall figures suggest strengthening demand from would-be buyers, even though there are relatively few new listings on the market and sales prices are rising at a faster rate than wages.

The increase in signed contracts also indicate that robust hiring and low mortgage rates are encouraging more Americans to buy houses, after years of waiting to save for down payments and rebuild their credit in the wake of the housing bust and 2008 financial crisis.

Pending sales are a barometer of future purchases. A one- to two-month lag usually exists between a contract and a completed sale, meaning that the gains should appear in April and May sales numbers.

Existing homes sold at an annual pace of 5.19 million in March, a solid upturn after annual sales tracking below 5 million in February and January, the Realtors reported last week. Still, economists say that sales should average about 5.5 million annually in a healthy market.

But greater buying activity has yet to bring more sellers into the market. A mere 4.6 months of supply are available, compared to six months in what economists consider to be standard.

The tight supplies have caused prices to climb at averages that damage affordability. Median home prices increased 7.8 percent over the past 12 months to $212,100. That increase is nearly four-times greater than the average wage growth tracked by the Labor Department.

 

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How to Help Nepal Earthquake Victims (and Not Scammers)

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Smartest Way to Donate to Charities

By Krystal Steinmetz

The stories coming from the Himalayan kingdom of Nepal after Saturday's massive earthquake are heart-rending. If you're like many Americans, you want to help the victims -- and the need is desperate. But with so many aid organizations requesting donations -- some of them phony -- it can be difficult to figure out where you should send your money.

According to the Federal Trade Commission, some fraudsters take advantage of people's generosity with phony charities. And some relief organizations aren't forthcoming with how your donation will be used (e.g. helping earthquake victims versus padding the organization's general fund).
Here are some tips from the FTC on how you can avoid shady relief organizations:
  • Only donate to charities you know and trust. Just because you see an organization on a social media site doesn't mean it's legit.
  • Beware of any "charitable organizations" that seem to have materialized out of thin air. You can research an aid organization at the Better Business Bureau's Wise Giving Alliance, Charity Watch, Charity Navigator or GuideStar, the FTC said.
  • If you want to ensure that your donation goes to a specific relief effort, like helping the Nepalese earthquake victims, make sure you specify that, or your donation could end up going in an aid organization's general fund instead.
Humanitarian Groups With Experience

Of course, there are many reputable aid organizations that are helping the earthquake victims in Nepal. If you don't have time to research a charity, here are some humanitarian aid groups that have track records you can rely on:
  • Doctors Without Borders. Also known as Medecins Sans Frontieres, this international medical humanitarian organization is on the ground in Nepal, with plans to send more supplies and personnel. MSF was awarded a Nobel Peace Prize in 1999 for its humanitarian work around the world. Donate here.
  • World Vision. In its initial phase, the aid organization aims to help 100,000 people with relief supplies, including tarps, blankets, hygiene kits, cooking kits, mosquito nets, sleeping bags and water purification tablets. Donate here.
  • World Food Program. The U.N. World Food Program is gathering donations to help provide food to 1.4 million people in Nepal. Donate here.
  • Oxfam. The humanitarian organization is providing supplies for clean water, sanitation and emergency food supplies in Nepal. Donate here.
Do you have a favorite charity organization that you trust? Have you donated to relief efforts in Nepal? Share your thoughts below or on our Facebook page. And share this article with your Facebook network.

 

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Bud Light: Sorry for Saying It Removes 'No' From Vocabulary

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Food Bud vs Craft Brews
Gene Puskar/AP
By MAE ANDERSON

NEW YORK -- Bud Light should have kept the word "No" handy in this case.

Anheuser-Busch is apologizing for ad copy that appeared on bottles saying Bud Light removes the word 'no' from drinkers' vocabulary.

Photos of the bottles went viral on social media Tuesday with widespread complaints about the slogan, particularly at a time of national debate about college rape.

We would never condone disrespectful or irresponsible behavior. As a result, we have immediately ceased production of this message on all bottles.

"The perfect beer for removing 'no' from your vocabulary for the night," the copy read in full.

The response on social media ranged from crude jokes to criticism that the slogan is part of a culture that tacitly condones sexual assault.

The slogan is part of the brewer's two-year-old "Up for Whatever" campaign that includes a wide array of marketing, such as a Super Bowl commercial that showed a Bud Light drinker going through a live-action Pac Man game.

The company says there are waves of the bottle-message campaign included more than 140 different messages -- with new ones out every few months -- intended to "encourage brand engagement." They said this particular one missed the mark, and the company regrets it.

"We would never condone disrespectful or irresponsible behavior," Alexander Lambrecht, vice president, Bud Light said in a statement. "As a result, we have immediately ceased production of this message on all bottles."

Marketers can sometimes lose perspective when they walk the line between being edgy to get attention and being offensive, said marketing expert Allen Adamson, managing director of branding firm Landor Associates.

"All marketers want to get people's attention, not alienate them," Adamson said. "The challenge is to understand who you're talking to, but not lose sight of the bigger picture and be potentially polarizing and offensive."

Some other messages on bottles include: "The perfect beer for dropping everything and going to Paris, even if it's the one in Texas;" and "The perfect beer for being that guy people know when they say they 'know a guy.' "

 

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