Money in a Minute: Today’s Top Headlines From the World of Money

Note: Below is the news roundup for 1/28/11 – check our homepage for today’s headlines!

1. INVESTING: Gold is losing its luster

All that glitters is not gold. While the big news yesterday was the Dow Jones industrial average breaking 12,000, CNN Money is reporting, “Gold is looking a little less shiny lately. As fears over debt, inflation, and political instability have eased over the past several weeks, gold has lagged behind stocks and bonds.” Today the precious metal is trading at a three-month low.

(Last week Stacy did a story called “3 Places NOT to Put Money Now.” Can you guess what one of those places was?)

2. TECH: Amazon sales pop as Kindle books overtake paperbacks

Back in July, Amazon.com boasted that its e-books were selling faster than its hardcover books for the first time. Now the online retailer says the same is true for paperbacks. In other paperless news, Rupert Murdoch’s News Corporation announced the launch of an iPad-only newspaper called The Daily, which debuts next Wednesday.

(Another recent story you might be interested in: Why You Shouldn’t Buy an Amazon Kindle)

3. CARS: Chevy Volt to be available in all 50 states

Chevrolet’s battery-powered car is spreading like, well, electricity. While it’s still only available in a handful of states, CNN reports, “The Chevrolet Volt will be available in all 50 states by the end of this year.” But it’ll still be tough to buy one: “GM had said it would build only 10,000 Volts by the end of 2011 and 45,000 by the end of 2012.”

4. JOBS: Long-term unemployment rate still sky-high

We’ve sadly grown accustomed to dismal unemployment reports, but the latest at least has a sliver of good news. While more than 4.2 million Americans can’t find work – or as CNN says, “roughly the total population of Kentucky” – the network also reports, “December’s total is a decrease of 200,000 from August 2010.”

5. PAY: The Biggest Investment Gain Ever?

How would you like to earn $158.55 every second for an entire year? CNNMoney.com reports that the same hedge fund manager who earned four billion dollars betting against the housing market in 2007 beat his own record in 2010 by earning five billion betting on gold. If he keeps this up, he may be able to retire soon.

6. HOUSING: Home purchase contracts,mortgages rise

While not good news for bargain-hunters, it’s good news for the rest of us who own homes: “The number of people who signed contracts to buy homes rose in December, fifth increase in the past six months, as mortgage rates continued to rise,” USA Today is reporting. “Contract signings were up in every region of the country except the West.”

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
16 Products That Solve Everyday Annoyances

These items put an end to the daily irritations that bug you the most.

Have You Heard of This Best Place to Retire in 2020?

The best place to retire in America is one you likely are not familiar with.

7 Steps to Keep Your Car Looking Like New

Take a few steps to preserve the beauty of your car, and you stand to get a lot more money at trade-in time.

5 Ways Social Security Will Change in 2021

These adjustments will affect both workers and retirees in the new year.

7 Small Appliances You Don’t Need — and What to Use Instead

Here’s how to get the job done without blowing money — or losing counter space.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
8 Tips for Retiring Comfortably on Social Security Alone

It’s never too early to start learning how to live well while living on less.

Am I Eligible for My Mother’s Social Security Benefit?

Can an adult daughter tap into her late mother’s benefit?

Can a Divorced Widow Claim Her First Husband’s Social Security Benefits?

The rules are complicated when it comes to eligibility for survivors benefits.

27 Things You Should Never Pay For — and How to Get Them for Free

When you know the tricks, you can save big on all kinds of useful things that others pay for.

11 Generic Products You Should Buy at Costco

Not all generics are worthwhile, but these are among the best from Costco’s Kirkland Signature brand.

9 Mistakes Everyone Makes When Shopping on Amazon

Are you losing money due to any of these missteps?

15 Free Streaming Services to Watch While Stuck at Home

These free movie streaming sites offer thousands of movies and TV shows, including recent releases and beloved classics. If you love free movies, online sites are where you need to look for the best list of features that are just one easy click away.

This Gas Station Scam Is Victimizing More Drivers

For the second straight year, a growing number of Americans believe they’ve fallen prey to this scam.

3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

6 Legal Documents Retirees Need — but Don’t Have

Few retirees have all of these documents that are crucial to their golden years — especially during a pandemic.

10 Things I Always Buy at Trader Joe’s

From snacks to sweets to side dishes, stock your cart with these time-tested favorites on your next TJ’s run.

4 Tax Credits That Will Be More Generous in 2021

If you are eligible for these tax breaks, they will slash your federal income tax bill — dollar for dollar.

15 Amazon Purchases That We Are Loving Right Now

These practical products make everyday life a little easier.

This Surprise Factor Can Raise Your Risk of Dementia

Nearly half of U.S. residents may face this threat.

These Are the 3 Best Used Cars You Can Buy

These vehicles boast reliability, safety and long-lasting value.

The Worst Day of the Year to Buy a Used Car

If you need a new set of wheels, avoid shopping on this day.

19 High-Paying Jobs You Can Get With a 2-Year Degree

There are easy high-paying majors available in the U.S. — and no bachelor’s degree is required. We’re here to help you find easy degrees that pay well.

7 Stores That Match — or Beat — Amazon Prices

These retailers offer some of the most consumer-friendly price-match policies anywhere.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.