Money Minute: Millions Stand to Lose Jobless Benefits; Money Pours into Mutual Funds

The haves and the have-nots in the economic recovery. That and more of the top money stories you need to know Monday.

Unemployment Benefits
Toby Talbot/AP
More than 2 million people could lose jobless benefits over the next few months if Congress doesn't extend an emergency aid program. Many jobless could end up receiving fewer weeks of benefits.

Meanwhile, a government report shows there are now more women in the job force than there were before the Great Recession began in 2008. That's not the case for men though. They are still nearly 2 million jobs below the peak level.

The Dow Jones industrial average (^DJI) and the Standard & Poor's 500 index (^GPSC) start the week at record highs, and both have posted six straight weekly gains. Last week, the Dow gained 1.3 percent, the S&P rose 1.6 percent and the Nasdaq composite index (^IXIC) rallied 1.7 percent. All three major averages are closing in on milestone levels, including 16,000 for the Dow and 4,000 for the Nasdaq.

With stocks are record highs, mom and pop investors are pouring money into stock mutual funds. The research firm TrimTabs says stock funds took in more than $34 billion in new money over the past month.

Boeing (BA) shares are set to take off securing a series of big orders for its new 777X jet from Middle Eastern airlines. Those orders were valued at more than $100 billion, based on list prices, making it Boeing's best-ever product launch. This is significant for the whole U.S. economy, as Boeing is one of the nation's biggest exporters. But it's still not known where the new plane will be built. Workers in Washington State last week rejected a labor pact, and Boeing says it will look elsewhere for a manufacturing plant.

Sony (SNE) also reported strong demand for the rollout of the PlayStation4 video game console. It sold more than 1 million units Friday, the first day it was available. However, online forums suggested there may be serious technical problems with the new consoles. Microsoft (MSFT) rolls out its new Xbox this coming Friday.

-Produced by Drew Trachtenberg.

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jazzeerun

The EPA is suggesting less ethanol in gasoline. This is a good news for owners of gas powered equiprment like chain saws, blowers, etc. According to technicians, ethanol in gasoline shortens the engines life.

November 19 2013 at 9:45 AM Report abuse rate up rate down Reply
Claudia

Finally. Unemployment was put into place to give a heads up not a career collecting unemployment

November 18 2013 at 9:56 PM Report abuse +2 rate up rate down Reply
nkowalak

Women are not afraid to go to work for less than men, but they know that if they prove themselves, that salary will start going up. Its sad that people have lost jobs, but they have been told those big salaries are not there any longer so they just give up. Neighbor lost big time job in 2008, worked two part-time jobs, and two months ago was hired back in a new company for "dream wages." He never gave up, he knew he had to pay the light bill and put food on the table--that's what new employer was looking for and everyone is happy for him.

November 18 2013 at 8:02 PM Report abuse +1 rate up rate down Reply
smobertoday

Thanks to the man who promised "Elect me President of the greatest country in the world and I promise I will CHANGE it! "
How y'all liking that change now?

November 18 2013 at 7:46 PM Report abuse +1 rate up rate down Reply
Actionwriter

Two million this month. .more next month....... "does that "hope and change" still feel comfy and rosey?
Remember the power of your vote next time

November 18 2013 at 7:38 PM Report abuse +2 rate up rate down Reply
Tetragnathid

Call them what they are, welfare programs. Nothing wrong with that. Then we cn get some idea as a nation how much we are actually spending on welfare. Those are not entitlement programs and we should stop calling that.

November 18 2013 at 7:38 PM Report abuse +1 rate up rate down Reply
bp233

Get on the wagon, the tax payers can pull it.

November 18 2013 at 7:26 PM Report abuse rate up rate down Reply
dweeeb.buster

From the look of the message board, it was another really bad day for the dumbest 1%ers.

Gee, whoda thunk.

November 18 2013 at 7:22 PM Report abuse +1 rate up rate down Reply
Dennis

You're are a waste of time..!

November 18 2013 at 5:59 PM Report abuse rate up rate down Reply
Frank S. Pedigo

So where is Marco Rubio`s compassion for these Legal workers ? Remember while he is trying to get amnesty for 11 million illegals these legal workers are living off unemployment . Makes you wonder who our goverment works for ? Just think if we deported the illegals and gave these people thse jobs that would not only save tax dollars but put taxpaying people to work . Under Rubio`s plan the goverment wuold add another department to handle the amnesty program . This would mean higher taxes for legal workers and how many of the new Republicans would be going on welfare and food stamps ?

November 18 2013 at 5:06 PM Report abuse -1 rate up rate down Reply
2 replies to Frank S. Pedigo's comment
franco.anastasia

Hey Frank...How many people could we have cut a check to with the trillion dollars obama wasted on a failed stimulus bill that did NOTHING but hire a few temporary government workers? Or how about the $600 million on a website that still doesn't work? Spare us your obama bull crap.

November 18 2013 at 5:10 PM Report abuse +1 rate up rate down Reply
Actionwriter

good thought Frankie....BTW how did Americans ever get talked into putting a guy in office that is only a smooth jive talker---nothing else???

November 18 2013 at 7:41 PM Report abuse +2 rate up rate down Reply