Money Minute: Stocks Soar to Record Highs; Fraudsters Target Target


Stocks are at record highs after one last Bernanke inspired rally, and Target was just that -- the target of thieves.

Fraudsters Target Target
Jeff Chiu/AP
Target (TGT) says as many as 40 million of its customers may be victims of a credit and debt card information theft that starting on Black Friday weekend. The scam apparently involved tampering with the computer software that controls the machines used to swipe credit cards at check-out counters. The data heist doesn't appear to involve online purchases. So, if you've shopped at Target stores in the past three weeks, you're urged to carefully check your statements online, starting today.

Outgoing Fed Chairman Ben Bernanke gave a final gift to investors, by finessing the taper of the Fed's stimulus program and promising to keep interest rates at very low levels for an extended period -- probably well into 2015.

That sent the Dow and S&P 500 to record highs. The Dow Jones industrial average (^DJI) soared 292 points Wednesday, the Nasdaq composite (^IXIC) rose 46 and Standard & Poor's 500 index (^GPSC) gained 29 points.

One sector of the market that struggled Wednesday was tech stocks, but they could gain some momentum today following some upbeat earnings news from Oracle (ORCL). The software maker beat Wall Street profit and revenue estimates.

You've heard for years that Warren Buffett is a financial genius, a guru for other investors. But really, how good is he? Well, according to a study by Wealth-X and UBS (UBS), the Oracle of Omaha has made about $37 million a day. That's a gain of about $13 billion for the year, a better performance than all of the other billionaires in the world. The Berkshire Hathaway (BRK-A) (BRK-B) CEO's reputation is indeed well deserved.

Delta Air Lines (DAL) and JetBlue Airways (JBLU) say they won't allow in-flight mobile calls, even if regulators clear that for takeoff. Delta says the decision follows negative comments from customers and employees. But, if the Federal Communications Commission allows it, Delta will permit fliers to use texting and email.

-Produced by Drew Trachtenberg.

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Shut your windows, close the blinds and lock your doors. The sky is falling Jimmy the sky is falling Boo Hoo hoo. Help us victims what are we gonna do???? Don't buy anything either unless you are gonna use cash, you will be victimized, oh we are so scared!!!

December 19 2013 at 10:40 AM Report abuse -3 rate up rate down Reply

And 2 days ago Ford was creating endless jobs and saving the world - I warned it would be the beginning of the end for them and look at the stock today it's crashing.. And how many bought this stock on the lies and hype and are bag holders now?

This plan of collusion between the FED clown and Wall Street once again produces their annual Santa Rally.

When the truth surfaces here - just as it did with Ford - watch out - it's coming...

December 19 2013 at 9:56 AM Report abuse -4 rate up rate down Reply
2 replies to jimmy_branch's comment

Well heck fire Jimmy, don't keep me in suspense. Get to ' it's." I just love it's. It's such a great word, isn't it?

December 19 2013 at 10:06 AM Report abuse +4 rate up rate down Reply
1 reply to theycallmeroy3's comment

Hey Roy! wave to all the Ford bag holders who believed that story about all the jobs and saving the world - then bought the stock..

December 19 2013 at 10:15 AM Report abuse -2 rate up rate down

In some neck of the woods, " It's coming," can mean their in-laws.

December 19 2013 at 10:07 AM Report abuse +2 rate up rate down Reply
2 replies to theycallmeroy3's comment

Well let's look at the bright side, you can buy Ford stock real cheap today -

December 19 2013 at 10:11 AM Report abuse -1 rate up rate down

You know what they say...Buy low, sell high.

December 19 2013 at 10:18 AM Report abuse +2 rate up rate down