MARKET - The Salt Lake Tribune

Wall Street: Stock indexes flip between gains and losses

Tue, 21 May 2013 10:16:17 MDT

Wall Street: Stock indexes flip between gains and losses

The Associated Press

Updated May 21, 2013 10:16AM MDT

NEW YORK • Stock indexes fluctuated in midday trading Tuesday as investors tried to predict the Fed’s next move. The Dow Jones industrial average rose 32 points to 15,366 shortly before 12 Eastern time. The Standard & Poor’s 500 index edged up one point to 1,668. The Nasdaq composite rose three points to 3,499. “There’s no compelling reason for the market to go one way or another today,” said Michael Binger, senior portfolio manager at Gradient Investments in Minneapolis, Minn. “And I think a lo...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

New Pars Market includes a restaurant

Mon, 20 May 2013 11:49:02 MDT

New Pars Market includes a restaurant

By Heather May The Salt Lake Tribune

Updated May 20, 2013 11:49AM MDT

Pars Market in Holladay has a new location, a new name and the owners have added a restaurant. Pars Market and Cuisine, now at 4233 S. Highland Drive, serves lunch and dinner. Entrees range from $10-$17 and include beef and chicken kabobs as well as basmati rice dishes served with beef, chicken or lamb. The business still includes a Middle Eastern and Mediterranean market full of items not easily found including avocado, almond and mustard oils, rose preserve, eggplant spreads, sweet lemons, P...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Dow, S&P shine in 4th week of gains

Fri, 17 May 2013 18:27:02 MDT

Dow, S&P shine in 4th week of gains

REUTERS

Updated May 17, 2013 06:27PM MDT

Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies. The Dow and the S&P 500 finished at fresh record highs, driven by gains in energy and industrial shares. The indexes have pushed to a series of never-before-seen levels as part of the rally that has lifted equities more than 16 percent for the year so far. In a sign of how far the market has come, the...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Year after IPO, humbled Facebook still aims big

Fri, 17 May 2013 18:11:02 MDT

Year after IPO, humbled Facebook still aims big

By BARBARA ORTUTAY The Associated Press

Updated May 17, 2013 06:11PM MDT

New York • It was supposed to be our IPO, the people’s public offering. Facebook, the brainchild of a young CEO who sauntered into Wall Street meetings in a hoodie, was going to be bigger than Amazon, bigger than McDonald’s, bigger than Coca-Cola. And it was all made possible by our friendships, photos and family ties. Then came the IPO, and it flopped. Facebook’s stock finished its first day of trading just 23 cents higher than its $38 IPO price. It hasn’t been that high since. Even amid the h...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Big banks weaken rule on derivatives, alarming critics

Thu, 16 May 2013 18:32:02 MDT

Big banks weaken rule on derivatives, alarming critics

By MARCY GORDON The Associated Press

Updated May 16, 2013 06:32PM MDT

Washington • A rule intended to loosen the largest U.S. banks’ control over the trading of complex investments and help safeguard the financial system was weakened Thursday by regulators. Critics say the changes will allow major Wall Street banks to continue to dominate the $700 trillion derivatives market. The Commodity Futures Trading Commission approved the rule on a 4-1 vote. Commissioner Jill Sommers cast the dissenting vote. Under the rule, investment firms would be required to request pri...

On top for 20 years, Ivory builds more than homes

Mon, 13 May 2013 09:01:49 MDT

On top for 20 years, Ivory builds more than homes

By Paul Beebe The Salt Lake Tribune

Updated May 13, 2013 09:01AM MDT

In 2005, when most builders were happily constructing homes and raking in revenue, Clark Ivory saw an unsustainable real estate bubble building along the Wasatch Front and in St. George. Ivory, CEO of a namesake company that has been Utah’s biggest homebuilder for a quarter-century, was so concerned that he drafted an internal memo outlining which builders would fail when the market cooled. Without naming names, he singled out those who behaved as if there was no end to the white-hot market, car...