Must Read Money Stories for March 2

by March 2, 2016

MRMS

 

Super Tuesday for Wall Street While the rest of the country was focused on party delegates and presidential politics, Wall Street had itself a good Super Tuesday. The Nasdaq, Dow and S&P 500 indexes all closed up. Analysts suggest it’s good to be in tech and finance sectors and that investors might start feeling the recovery, Reuters reported. The turbulent markets in 2016 have reflected uncertain oil prices in 2016.

Osama bin Laden’s estate planning The CIA released a trove of documents it collected when Navy SEALs raided his Pakistan complex in 2011. NPR is reporting that among the documents was a handwritten designating that his alleged $29-million estate should go towards Jihad. Officials say the will is from the 1990s, and it’s not clear how much bin Laden had to his name at the time of his death.

Greenspan a ‘no’ on negative interest rates As the U.S. Federal Reserve continues to consider raising rates, Alan Greenspan, its former chairman, says he’s not a fan of implementing negative interest rates here in the U.S. Greenspan told Bloomberg in an interview that the technique of charging banks to keep money at the Fed could distort investment — a bad idea. MarketWatch reported in a January interview with Ben Bernanke, who replaced Greenspan as chair in 2006, said the U.S. should actually consider negative rates in the event of another financial crisis. A number of European Central Banks have used the measure since the Great Recession.

Facebook in the clinker A Facebook executive was held by Brazilian police as the country and social media giant face off over data from the messaging service the company owns, WhatsApp. Authorities want data for an ongoing drug-trafficking investigation and contend that the company is in noncompliance with a court order. Facebook officials told CNN Money they were “very disappointed.”

Photo of Alan Greenspan from Brookings Institution on Flickr CC license BY-NC-ND 2.0