The Dow Jones Industrial Average dropped 106.38 points, or 0.61 percent, to 17,320.71. The S&P 500 lost 18.60 points Bernardo Silva Mundial Camisola , or 0.92 percent, to 1,992.67. The Nasdaq Composite Index shed 68.50 points, or 1.48 percent, to 4,570.82.
Early Thursday Joao Mario Mundial Camisola , Citigroup Inc. reported net income of 350 million U.S. dollars for the fourth quarter of 2014, or 0.06 dollar per diluted
share, down sharply from the year-ago net income of 2.5 billion dollars, or 0.77
dollar per diluted share.
The bank said legal and related expenses and repositioning charges totaled 3.5 billion dollars in the current quarter, compared with 1 billion dollars in
the prior year period.
Meanwhile, Bank of America Corp. said its net income for the fourth quarter of 2014 was 3.1 billion U.S. dollars Andre Silva Mundial Camisola , or 0.25 dollar per diluted share, down from 3.4 billion dollars, or 0.29 dollar per share, in the fourth quarter of
2013.
The two companies' quarterly results were well below market estimates. In response, Citigroup shares sank 3.71 percent to 47. 23 dollars apiece and Bank
of American shares plunged 5.24 percent to 15.20 dollars apiece.
U.S. banks' fourth-quarter earnings started with a somber tone after JPMorgan Chase reported Wednesday a 6.6-percent drop in fourth-quarter profits due to
expensive legal expenses.
Latest data from Thomson Reuters showed that S&P 500 companies' per-share earnings in the fourth quarter are expected to grow 3.5 percent year-over-year,
while revenue is forecast to increase 0.9 percent.
U.S. stocks found little support from downbeat economic data. The number of Americans who initially applied for jobless benefits in the week ending Jan. 10
increased 19 Joao Moutinho Mundial Camisola ,000 to 316,000 from the previous week's revised level, the U.S. Labor Department said Thursday.
Separately, the department said the U.S. Producer Price Index for final demand fell 0.3 percent in December on a seasonally adjusted basis.
Moreover, oil prices retreated sharply from the previous session's big rally amid ample supplies, with light Cristiano Ronaldo Mundial Camisola , sweet crude for February delivery diving 2.23 dollars to settle at 46.25 dollars a barrel.
Early Thursday, the Swiss National Bank surprisingly announced to remove its minimum exchange rate of Swiss franc 1.20 per euro, leading the Swiss franc to
surge to a high level against the euro.
However, overseas markets rallied broadly Thursday. European shares rebounded strongly after a volatile trading day following action from the Swiss National
Bank. Asian equities also witnessed big gains with Chinese benchmark Shanghai
Composite Index soaring 3.54 percent.
Will you want to choose only one category to begin collecting your sports memorabilia? If so, learn it, research it Jose Fonte Mundial Camisola , and invest in it wisely. Did you know that trading cards have to be graded? It's one of the important facts you would do
well to know as a potential collector of authentic, valuable sports
items.
Collectibles fraud is a terrible thing for someone to endure. If you've been saving a special item or items for years, waiting on just the right
moment to cash in on your investment, and one day you are forced to sell because
life threw you a hard ball, you don't want to suffer the devastation of a fake
collectible.
Educate yourself, arm yourself with knowledge. Become a collector who doesn't just pretend to know the art of recognizing authentic
sports memorabilia.
If you encounter a dealer who doesn't answer your questions to your satisfaction Raphael Guerreiro Mundial Camisola , it's best to follow your instincts and go elsewhere. Dealer confidence is key, but don't confuse confidence with a
con's suave evasions.
Find out the worth of your items. It's not fair to you or to the dealer to purchase an item, then discover it's not quite as
valuable as you had first thought, and try to hassle the dealer about a return.
Do your homework before purchasing. An honest dealer will want you to be happy
with your purchase so you can be proud to do business with them and spread their
good name to build their reputation. A dishonest dealer just wants you to hurry
up and spend your money and won't want to stand behind the authentication of
their sports memorabilia. But by the same token, it's unfair to the dealer to go
on with an attitude of "If I don't like it, I'll just return it." They want
people who are serious about their sports memorabilia just as much as you want
authenticity. It's best to leave Fabio Coentrao Mundial Camisola , think it over, and return than to buy in haste. You may want to return to the same dealer in the future and should
build a good interaction with him or her.
Make sure you are clear on how rare an item is. Limited edition does not necessarily mean the same as limited
production. Limited edition means one of a kind, limited production means only
produced for a short period of time.
A certificate of authenticity does not assure that you're in good hands with a dealer. Neither do the words 'mint
condition'. There is such a thing as 'dealer bias'. It's one of the negative
aspects of the business. You may later try to return to the same dealer and sell
back the card they sold for a high price in 'mint condition' only to find they
reduce the worth. They won't want to pay you what they said it was worth, even
though they are the ones who set the price originally.
You shouldn't have to allow the dealer to dictate which authentication service you can use. A
reputable dealer will be fine with your choice. But do understand that
authenticators may not specialize in the item you are having checked. If they
don't excel in this area, you may be disappointed.
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