Booming Markets Topped 2013 Business News
|By JOSH BOAK, AP Economics Writer|
It was an easy year to emulate
U.S. stocks rocketed to new heights, and markets in
Budget fights closed much of the U.S. government for 16 days. Leaked classified documents showed that the
Central banks embarked on a shopping spree.
The stock market boom was chosen as the top business story of 2013 by business editors at The Associated Press.
Here are the top 10 business stories of 2013:
1. STOCK MARKETS SURGE: The Dow Jones industrial average set a record in March and hardly stopped to celebrate. The blue chip average has soared roughly 25 percent so far, its best performance in a decade. Stocks stand out as among the few areas of the economy to fully recover from the 2008 financial crisis.
The Federal Reserve's bond purchases helped cut long-term interest rates, making stocks more alluring than bonds. Also, companies boosted share prices through an unusually large
2. FEDERAL CHAOS:
3. TECH COMPANIES AND NSA: Big Brother has logged on. The U.S. government gathered data on online messages through a program that's intended to stop terrorism but that touches the communications of ordinary Americans. Internet companies already track users and then sell customized digital advertising. But they reacted indignantly after documents leaked by a former NSA contractor said the agency had backdoors at
5. HEALTH CARE LAW: The medicine didn't go down smoothly when the new health care law launched in November. It was almost impossible for uninsured individuals and small businesses to sign up on the glitch-ridden federal website. The Obama administration swung into emergency mode to fix the site. But businesses would need to enroll with paper applications until
8. AIRLINES MERGE:
9. TWITTER IPO: The business of 140-character blast communiques thrilled
10. GM COMEBACK: Just six years ago,
AP Business Writers
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