Zain Asher is minding your business with a report on a new credit scoring system from VantageScore that could help millions of people. "Essentially, it’s gonna be more forgiving to anybody who is seriously in debt or has no credit history in this country.”
Currently, seven out of ten financial institutions use VantageScore, Asher reports. “But the bottom line is, you can't really control which scoring system your financial institution's going to be using,” she says. "So, you still have to make your payments on time.”
Zain Asher is minding your business this morning with the latest in the rally in stocks. Stocks are opening up at record highs this morning after the Dow closed at a new all-time high on Friday.
While the current market offers a huge wealth opportunity for investors, a study shows not everyone is making gains from this rally. The younger generation is set to make the highest returns. “So people between the ages of 25 to 34, they’re gonna have a more aggressive mix of stocks in their portfolio,” she says. “They are gonna benefit from this rally the most.”
Christine Romans is minding your business with the latest in U.S. stocks and world markets. With stocks consistently making gains, economists are watching to see if the momentum will continue. So far, it's still strong. Data out of Japan shows the country could be coming out of a recession, Romans says.
But all eyes are on the monthly jobs report coming out later this morning. "Economists surveyed by CNNMoney are predicting predicting 170,000 jobs added to the payrolls in February," Romans reports. "The unemployment rate expected to tick down to 7.8%." Romans says she'll be reading into how both the snowstorm in the Northeast in February and the sequester's might have affected this.
Attention is also on Facebook's upcoming facelift. The company is rolling out new features and an update on Facebook's newsfeed that is supposed to reduce clutter, Romans says. "We're told there's a backlog for the upgrade," she reports.
Christine Romans is minding your business with the latest on the stock market and good news about the housing market.
The Dow hit fresh record highs and is looking to make more gains today. Romans addresses the big question: Can it keep going? She says that while this bull market is four years old, it's not clear when it'll end. "The last leg of a bull market can often be the most profitable, but you don't know when it's gonna be over," she says.
In the housing market, "the number of homes available dropped more than 16% in February compared to a year ago," Romans says. "This is good because it sets you up for higher prices. It’s good for the selling season."
Martha Stewart defended her company against a lawsuit from Macy's yesterday. Christine Romans has details from the courtroom.
Christine Romans breaks down the financial relationship between the United States and Venezuela in the wake of President Hugo Chavez's death. "It is the fourth largest supplier of gas to the U.S. Energy after - you've got Canada, Mexico, Saudi Arabia and then Venezuela," Romans reports.
Romans explains that Chavez was simultaneously a sworn enemy and a major business partner of the United States, for really blunting American efforts in many places across Latin America for years now, by giving subsidized oil to people who agreed with him and disagreed with the United States.
“And this really gives the U.S. and its Latin American policy a great, unbelievable opening,” Romans says. “So how the U.S. treads here is really important diplomatically but also right down to what goes into your gas tank.”
"Domestic diva" Martha Stewart is expected to testify in a civil case today pitting Macy's against J.C. Penney over Martha Stewart Living prodcuts. At issue is whether Stewart’s company broke an agreement with Macy’s by signing a $500 million deal to sell housewares at Penney locations. Christine Romans has more on the story.
Christine Romans is minding your business this morning with an eye on U.S. stock futures. "All three of the major averages set for a higher open," Romans reports.
Also, China sets highly ambitious economic goals for the year. Romans has the details.
Christine Romans is minding your business this morning. "You should know your own credit history," she says, because employers may be checking it, making potential employment even harder for those who need it the most.
Christine Romans looks at a study showing salaries for liberal arts graduates are on the rise.