Marts closed
Markets were closed yesterday in observance of New Year’s Day.
Birinyi a bull
The Standard & Poor’s 500 will probably surpass its record high in 2013 as bears capitulate and the lure of a four-year bull market pulls “everyone in the pool,” according to Laszlo Birinyi. Expansion in US housing, recovering markets in Europe and buying by individual investors will push the advance in equities to its fourth and final stage, “acceptance,” said Birinyi, president of Birinyi Associates.
BRIC a bust
Stocks in the biggest developing markets are lagging behind global equities for a record third year as faster economic growth proves no lure for investors amid concerns over government interference in markets. The MSCI BRIC Index of shares in Brazil, Russia, India and China rose 11 percent this year through Dec. 28, trailing the MSCI All-Country World Index by 1.6 percentage points. The trend will probably persist in 2013, according to John-Paul Smith, a strategist with Deutsche Bank.