Americans filing for first time unemployment insurance rose in the latest week as the job market continues to rebound from the low levels seen after the Great Recession. The Labor Department reported that Weekly Initial Jobless Claims rose by 24,000 in the latest week to 329,000 and above the 312,000 expected. It was the highest level in four weeks. The rise could be due in part to a seasonal quirk tied to the Easter holiday.
Apple Inc. reported earnings after the close of trading yesterday that easily beat estimates for the latest quarter. The company also announced that it will be increasing its share buyback program to $130 million from $100 million, while also announcing a seven-for-one Stock split. Each shareholder will receive seven shares for every share held and will simultaneously reduce the stock price by 7. The split will take effect on June 9. Apple said it will increase its dividend by 8% to $3.29 a quarter.
The Commerce Department reported yesterday that orders to factories for Durable orders, or products built to last at least three years, rose by 2.6% in March, signaling that business investments rose at the fastest pace in four months. December and January had seen back-to-back declines due to the harsh winter weather that engulfed most of the nation. The gains were seen across most sectors as the economy continues to gain momentum.
Today is "National Teach Your Children to Save Day"! If you set aside $100 every year starting at age 14, you’d have $23,000 by age 65, but if you start at age 35, you’ll only have $7,000 by age 65.
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