Is the Market Poised for a Correction – Dollar Plunges Against Yen; U.S. 10 Year Yield Keep Shooting Higher; Pension Crisis Deepens; Record Earnings Struggle To Support Record Stocks
August 5th, 2013
Pandemic of pension woes is plaguing the nation
Detroit, you’re not alone.
Across the nation, cities and states are watching Detroit’s largest-ever municipal bankruptcy filing with great trepidation. Years of underfunded retirement promises to public sector workers, which helped lay Detroit low, could plunge them into a similar and terrifying financial hole.
A CNBC.com analysis of more than 120 of the nation’s largest state and local pension plans finds they face a wide range of burdens as their aging workforces near retirement.
Record earnings struggle to support record stocks
SAN FRANCISCO (MarketWatch) — As earnings and stocks prices hit records, one question keeps rising to the surface: Are corporate fundamentals growing fast enough to support higher stocks?
A disconnect between equities and the economic recovery could spell trouble for the market, and that’s been noticed as Wall Street debates whether this rally is built on shaky support. Stock indexes are telling a much brighter story than the one told by CEOs and economic reports, but that gap should narrow if stocks are to hang onto gains.