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need to know
Apple CEO Cook’s deleted Super Bowl tweet
Google CEO Pichai gets $199 million in stock
How to get a free Chipotle burrito
What to expect from Whole Foods earnings
Sears warns on sales, to speed up closures

Can oil get so cheap that it won’t pay to extract it?
Oil sinks under $29 as EIA lowers price outlook
Barron’s Buzz: How low can the price of oil go?

99 Cent Gas May Be on Its Way
99-cents-a-gallon gas may be on its way: 24/7 Wall St.

Is the gold rally the real deal or ‘fool’s gold’?
Teen can keep $20,000 gold bar found in lake
Gold one of Wall Street’s best bets early in 2016
Gold futures stretch win streak to five sessions

Why is everyone freaking out about ‘CoCos’?
Convertible bonds are alluring as stocks fall
 
Deutsche Bank co-CEO says bank is ‘rock solid’
Deutsche may buy back billions in debt: FT
Why the selloff in European banks is ominous

This stock market has been Europe’s best in 2016

Market strategists are coming to believe the main things stocks need right now is an investor purge.
Strategists are arguing that stocks need a true purge

These charts detail S&P 500’s precarious posture
Michael Brush: Stock-market stars are aligned
Double-digit market decline in an election year?

White House forecasts decade-best economic growth
Obama proposes $4.1 trillion federal budget

Americans quitting their jobs hit a nine-year high
NFIB survey hints wage gains are fleeting
Job openings are second highest on record

Five questions that Janet Yellen must answer
Yellen may say goal is not to slow the economy
Fed: Too white, too male, too many bankers?
Expansion won’t die of old age: S.F. Fed study

Facebook, Amazon are the keys to tapping this market
French regulator threatens to fine Facebook
India bans Facebook’s free Internet service


Europe’s battles: migrants, ‘Brexit’ and ECB
German output, exports drop in December
Roubini: Welcome to the New Abnormal


Hurdle on Yelp’s path toward $1 billion in revenue

This has been the No. 1 car in America for decades
How far can you get on $50 in gas?


/conga/frontpage.html 367475

Markets »

86.38MDow Volume:
Avg Vol: 129.39M
Unchanged
154
Decliners
3633
Advancers
2672
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,089 +62 0.39%
Nasdaq
/quotes/zigman/12633936/realtime 4,307 +23 0.54%
S&P 500
/quotes/zigman/3870025/realtime 1,863 +10 0.54%
GlobalDow
/quotes/zigman/629063/realtime 2,088 -15 0.71%
Gold
/quotes/zigman/33772884/delayed 1,190 -8 0.69%
Oil
/quotes/zigman/2260836/delayed 28.39 -1.30 4.38%
FTSE 100
/quotes/zigman/3173262/delayed 5,632 -57 1.00%
DAX
/quotes/zigman/2380246/delayed 8,879 -100 1.11%
CAC 40
/quotes/zigman/3173214/delayed 3,998 -69 1.69%
FTSE MIB
/quotes/zigman/1482176/delayed 15,913 -528 3.21%
IBEX 35
/quotes/zigman/2759620/delayed 7,928 -195 2.39%
Stoxx 600
/quotes/zigman/2380150/delayed 309 -5 1.58%
Asia Dow
/quotes/zigman/6959860/realtime 2,471 -44 1.76%
Nikkei 225
/quotes/zigman/5986735/delayed 16,085 -919 5.40%
Hang Seng
/quotes/zigman/2622475/delayed 19,288 +105 0.55%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 24,021 -266 1.10%
Singapore
/quotes/zigman/1709939/delayed 2,623 +65 2.53%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 +0.01 0.85%
Yen
/quotes/zigman/16008150/realtime/sampled 115.16 -0.69 0.60%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.19%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 0.00 0.35%
DXY Index
/quotes/zigman/1652083/delayed 96.09 -0.59 0.61%
WSJ $ Idx
/quotes/zigman/41508961/realtime 89.34 -0.29 0.33%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.73 -0.02 0.89%
German 10y
/quotes/zigman/15866409/realtime 0.24 +0.02 8.00%
Italy 10yr
/quotes/zigman/15866497/realtime 1.69 -0.01 0.78%
Spain 10yr
/quotes/zigman/15866444/realtime 1.78 +0.03 1.43%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.41 0.00 0.07%
Japan 10yr
/quotes/zigman/15866525/realtime -0.02 -0.06 163.32%
Crude Oil
/quotes/zigman/2260836/delayed 28 -1 4.38%
Gold
/quotes/zigman/33772884/delayed 1,190 -8 0.69%
Corn
/quotes/zigman/25518691/delayed 361 -1 0.28%
DJIA F
/quotes/zigman/48241424/delayed 16,013 +25 0.16%
S&P F
/quotes/zigman/43106711/delayed 1,857 +5 0.24%
Silver
/quotes/zigman/32655632/delayed 15 0 0.98%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 100.88 1.13 1.13%
AAPL /quotes/zigman/68270/composite 95.61 0.60 0.63%
GOOG /quotes/zigman/59527964/composite 686.50 3.76 0.55%
BAC /quotes/zigman/190927/composite 12.28 0.0050 0.04%
C /quotes/zigman/5065548/composite 37.90 0.09 0.24%
F /quotes/zigman/264304/composite 11.43 -0.16 -1.38%
T /quotes/zigman/398198/composite 36.78 -0.33 -0.90%
BP /quotes/zigman/247026/composite 29.17 -0.75 -2.51%
GE /quotes/zigman/227468/composite 28.50 0.33 1.17%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.88% 11.62%
Business 13.12% 13.11% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.30% 14.12%
Airline 15.17% 15.16% 15.10%
Cash Back 15.26% 15.23% 15.27%
Reward 15.28% 15.25% 15.14%
Instant Approval 18.21% 18.18% 18.00%
Bad Credit 22.88% 22.88% 22.73%
Source:CreditCards.com

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Home Insurance Goes Through the Roof

Faced with falling home prices and climbing maintenance costs, struggling homeowners may soon face another setback: higher insurance premiums.

Getty Images

After rising steadily for the past few years, homeowner insurance premiums are expected to jump another 5% this year to $1,004, according to the Insurance Information Institute. That’s the biggest yearly increase since the market downturn and will mark the first time the national average premium is above $1,000.

Premiums will rise even higher in some states. In Georgia, GuideOne Insurance will raise rates by 12% on average starting this month. Farmers Insurance is increasing rates in Texas by 10% on average. Last month, Allstate started raising rates by 15% in Pennsylvania. And Florida insurer Citizens Property Insurance Corp. and North Carolina Farm Bureau are raising rates on some condo and homeowners by 21% and 6%, respectively.

The higher premiums come at a challenging time for American homeowners, as millions are behind on their mortgage payments and many owe more on their home than it’s worth. Insurers say the higher premiums are partly to cover their rising costs: Insured catastrophe losses in the U.S. totaled $35.9 billion in 2011, compared to a 2000 to 2010 average of $23.8 billion, according to the III. The companies are also paying more in premiums to so-called reinsurers, which provide insurers coverage for widespread catastrophic events, says Steven Weisbart, senior vice president and chief economist at the III.

Meanwhile, insurers’ returns on their investments — roughly 70% of their assets are in bonds – have been low, he says, and they’re looking for other ways to make up that lost revenue. “The only other place insurance companies can get money from is premiums,” he says.

Typically, when policyholders are informed of premium increases they shop around for better prices, but experts say that’s become harder to do. As insurers exit some markets altogether, homeowners are left with fewer companies to choose from. For instance, starting in May, State Farm will not renew roughly 11,000 homeowner policies in five coastal counties in Texas. The company says it’s trying to lessen its exposure to future losses.

To lower premiums, some homeowners increase their deductible, which means they’ll have to pay more out of pocket if disaster strikes before their insurance kicks in. But this strategy might not be as helpful this time around, since some insurers are dropping other types of coverage that were previously part of basic homeowner insurance policies. When coupled with a high deductible, a homeowner’s expenses could soar.

Allstate, for instance, recently introduced a new homeowner’s policy in Kansas and Oklahoma that doesn’t pay out the full cost of replacing all roofs that incur windstorm or hail damage. Kevin Smith, a company spokesman, says Allstate will determine which roofs qualify based in part on their age and condition. If Allstate declines to pay the full cost, it will pay the current value of that roof and the homeowner will be on the hook for the difference. The company says the homeowner’s other option is to purchase so-called replacement cost coverage for roof losses  in addition to their basic policy.

Even if homeowners find a lower premium, it might not stay low for long. Experts say many insurers filed requests with states to raise rates this year. (When states approve higher rates, that leads to higher premiums for policyholders.) For instance, last month, Pennsylvania received requests from Erie Insurance and Travelers to increase premiums by roughly 9% by June and July, respectively, according to the state’s insurance department. (The companies didn’t respond to requests for comment.) In Georgia, most of the major companies filed requests to raise rates from 18% to 22%, says Steve Manders, director of insurance product review at the state’s department of insurance. The states say they don’t usually approve requests for increases by the exact amount insurers ask for.

Comments

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Comments (5 of 44)

View all Comments »
    • i’m screwed in texas too, its rising faster than grocery store prices.

    • I’ve lived in my Georgia home for 14 years this March without a single claim on my homeowners insurance. In 2012, responding to a huge rate increase, I increased my deductible to $5K — and even that left me with an 18% increase to my premium. The renewal I just received for 2013 included yet another increase, this time of 17%. 38% higher in just 2 years, with reduced liability for the company and NOT ONE CLAIM EVER. Both times, the answer to my inquiry of WHY was simply “the state allowed the increase.”

      The claim by insurers that their costs are high, that fraud is contributing to their losses, may be true but is not an adequate reason for these astronomical across-the-board hikes. When state insurance regulators simply roll over and say OK to anything requested by the industry, where does that leave the consumers they are supposed to represent? Totally screwed, that’s where. We MUST have insurance, and fewer companies offer it every year. Competition is a joke.

      Insurance by definition involves risk — protection from risk is what we buyers have paid for, for years. But the insurance companies seem to have convinced regulators that “too much risk” is something THEY shouldn’t have to bear, even though they’ve been taking payments for years with no risk at all in most cases. Since buying my first home in 1985, I have paid over $28,000 in homeowners insurance and (fortunately) have received not one penny in claims. I represent $28 grand of pure profit to my insurers. And what’s my reward? Rate increases of over 38% in two years because my state regulators think the insurance industry’s “risks” are too high, and their profits too small. If the time comes when the insurance companies get no increases for four years (like my salary!) I’ll be a little more understanding.

    • This once great country America the United States is so screwed. And, in so many ways. Over the last decade +, things are just eroding. As one had said it very well before, I’m penalized for living in a much lower risk area than other’s who choose the higher ones! And, I’m paying for them! Why is this fair? NOT! I should just burn my house down and make my claim already! Am I’m NOT even underwater on my mortgage!

    • So how is it fair to people like me who have been paying for insurance for 30 years and has never once filed a claim? My homeowner’s insurance increased 23% in 2012 over 2011′s premium. So I guess they figure the longer I go without filing a claim, the more likely I am to file one in the near future? Insurance is a scam, but by law, we have to have it. It isn’t right that people in lower risk areas have to make up the difference for the ones who choose to live in higher risk areas. They know the risk they’re taking.

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

New York Markets Close in:

need to know
Apple CEO Cook’s deleted Super Bowl tweet
Google CEO Pichai gets $199 million in stock
How to get a free Chipotle burrito
What to expect from Whole Foods earnings
Sears warns on sales, to speed up closures

Can oil get so cheap that it won’t pay to extract it?
Oil sinks under $29 as EIA lowers price outlook
Barron’s Buzz: How low can the price of oil go?

99 Cent Gas May Be on Its Way
99-cents-a-gallon gas may be on its way: 24/7 Wall St.

Is the gold rally the real deal or ‘fool’s gold’?
Teen can keep $20,000 gold bar found in lake
Gold one of Wall Street’s best bets early in 2016
Gold futures stretch win streak to five sessions

Why is everyone freaking out about ‘CoCos’?
Convertible bonds are alluring as stocks fall
 
Deutsche Bank co-CEO says bank is ‘rock solid’
Deutsche may buy back billions in debt: FT
Why the selloff in European banks is ominous

This stock market has been Europe’s best in 2016

Market strategists are coming to believe the main things stocks need right now is an investor purge.
Strategists are arguing that stocks need a true purge

These charts detail S&P 500’s precarious posture
Michael Brush: Stock-market stars are aligned
Double-digit market decline in an election year?

White House forecasts decade-best economic growth
Obama proposes $4.1 trillion federal budget

Americans quitting their jobs hit a nine-year high
NFIB survey hints wage gains are fleeting
Job openings are second highest on record

Five questions that Janet Yellen must answer
Yellen may say goal is not to slow the economy
Fed: Too white, too male, too many bankers?
Expansion won’t die of old age: S.F. Fed study

Facebook, Amazon are the keys to tapping this market
French regulator threatens to fine Facebook
India bans Facebook’s free Internet service


Europe’s battles: migrants, ‘Brexit’ and ECB
German output, exports drop in December
Roubini: Welcome to the New Abnormal


Hurdle on Yelp’s path toward $1 billion in revenue

This has been the No. 1 car in America for decades
How far can you get on $50 in gas?


/conga/frontpage.html 367475

Markets »

86.38MDow Volume:
Avg Vol: 129.39M
Unchanged
162
Decliners
3644
Advancers
2673
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,089 +62 0.39%
Nasdaq
/quotes/zigman/12633936/realtime 4,307 +23 0.54%
S&P 500
/quotes/zigman/3870025/realtime 1,863 +10 0.54%
GlobalDow
/quotes/zigman/629063/realtime 2,088 -15 0.71%
Gold
/quotes/zigman/33772884/delayed 1,190 -8 0.69%
Oil
/quotes/zigman/2260836/delayed 28.39 -1.30 4.38%
FTSE 100
/quotes/zigman/3173262/delayed 5,632 -57 1.00%
DAX
/quotes/zigman/2380246/delayed 8,879 -100 1.11%
CAC 40
/quotes/zigman/3173214/delayed 3,998 -69 1.69%
FTSE MIB
/quotes/zigman/1482176/delayed 15,913 -528 3.21%
IBEX 35
/quotes/zigman/2759620/delayed 7,928 -195 2.39%
Stoxx 600
/quotes/zigman/2380150/delayed 309 -5 1.58%
Asia Dow
/quotes/zigman/6959860/realtime 2,471 -44 1.76%
Nikkei 225
/quotes/zigman/5986735/delayed 16,085 -919 5.40%
Hang Seng
/quotes/zigman/2622475/delayed 19,288 +105 0.55%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 24,021 -266 1.10%
Singapore
/quotes/zigman/1709939/delayed 2,623 +65 2.53%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 +0.01 0.85%
Yen
/quotes/zigman/16008150/realtime/sampled 115.16 -0.69 0.60%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.19%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 0.00 0.35%
DXY Index
/quotes/zigman/1652083/delayed 96.09 -0.59 0.61%
WSJ $ Idx
/quotes/zigman/41508961/realtime 89.34 -0.29 0.33%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.73 -0.02 0.89%
German 10y
/quotes/zigman/15866409/realtime 0.24 +0.02 8.00%
Italy 10yr
/quotes/zigman/15866497/realtime 1.69 -0.01 0.78%
Spain 10yr
/quotes/zigman/15866444/realtime 1.78 +0.03 1.43%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.41 0.00 0.07%
Japan 10yr
/quotes/zigman/15866525/realtime -0.02 -0.06 163.32%
Crude Oil
/quotes/zigman/2260836/delayed 28 -1 4.38%
Gold
/quotes/zigman/33772884/delayed 1,190 -8 0.69%
Corn
/quotes/zigman/25518691/delayed 361 -1 0.28%
DJIA F
/quotes/zigman/48241424/delayed 16,014 +26 0.16%
S&P F
/quotes/zigman/43106711/delayed 1,856 +4 0.23%
Silver
/quotes/zigman/32655632/delayed 15 0 0.98%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 100.87 1.12 1.12%
AAPL /quotes/zigman/68270/composite 95.51 0.50 0.52%
GOOG /quotes/zigman/59527964/composite 686.00 3.26 0.48%
BAC /quotes/zigman/190927/composite 12.27 -0.0050 -0.04%
C /quotes/zigman/5065548/composite 37.86 0.05 0.13%
F /quotes/zigman/264304/composite 11.43 -0.16 -1.38%
T /quotes/zigman/398198/composite 36.77 -0.34 -0.92%
BP /quotes/zigman/247026/composite 29.14 -0.78 -2.61%
GE /quotes/zigman/227468/composite 28.49 0.32 1.12%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.88% 11.62%
Business 13.12% 13.11% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.30% 14.12%
Airline 15.17% 15.16% 15.10%
Cash Back 15.26% 15.23% 15.27%
Reward 15.28% 15.25% 15.14%
Instant Approval 18.21% 18.18% 18.00%
Bad Credit 22.88% 22.88% 22.73%
Source:CreditCards.com

SPONSORED SECTIONS

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X
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