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From VOA Learning English, |
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this is In the News. |
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Stock prices in the United States |
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and Japan rose sharply in 2013. |
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The rising prices were evidence of investors |
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welcoming efforts to push down interest rates. |
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Low interest rates help |
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to reduce the cost of homes, |
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equipment and other goods. |
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The leading measure of Japanese stock prices |
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was up 57 percent last year. |
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That was the best performance |
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for Japan's Nikkei Index in many years. |
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In the United States, another stock index, |
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the S&P 500, rose almost 30 percent in 2013. |
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Another measure of stocks, |
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the NASDAQ Composite Index, rose 38 percent. |
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The share prices were up, in part, |
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because of actions by the US and Japanese central banks. |
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The US Federal Reserve cut short-term interest rates |
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to almost zero a few years ago. |
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More recently, the Federal Reserve has been working |
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to push down long-term interest rates. |
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The central bank has been buying billions of dollars' |
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worth of bonds and other government securities. |
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The bank recently announced it would reduce that program |
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because the economy no longer needs so much help. |
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Nick Ventura is with Ventura Wealth Management, |
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a financial investment company in New Jersey. |
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He calls some of the actions by central banks |
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a "global gamble" that has worked, at least so far. |
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In 2013, the American economy grew and housing prices rose. |
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At the same time, the jobless rate fell a little. |
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Mr. Ventura says the improving economy |
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meant fewer wild movements in stock prices, |
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and fewer worried investors. |
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"Every time that there was the slightest pullback |
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in stock prices it was rewarded with a fresh round of buying. |
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So there is a growing confidence in the U.S. recovery |
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and I think that's what really perked up the U.S. economy." |
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Experts say they saw improvements in consumer |
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and investor confidence toward the end of last year. |
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That sense of trust seems to be making investors |
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more willing to take small risks by purchasing shares of stock. |
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The Wall Street Journal says investors |
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are simply looking for stocks with low prices |
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and a likelihood of strong earnings. |
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Another newspaper, The Financial Times, |
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reports that investments said to offer safety |
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in troubled economic times saw fewer buyers. |
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These investments include gold and government bonds. |
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Some experts predict stock prices will continue to climb in 2014, |
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but at a slower rate than last year. |
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Over in Turkey, a deepening political crisis |
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is affecting the country's stock market. |
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By the end of 2013, |
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Turkey's stock market had fallen more than 20 percent, |
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while the value of Turkish money hit new lows. |
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Concerns are growing about the effects of the power struggle |
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between the government and the judiciary. |
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More than 20 people, including state officials, |
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have been arrested on corruption charges. |
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Prime Minister Recep Tayyip Erdogan dismisses the investigation |
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as part of a plot to bring down his government. |
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Last week, protesters gathered in several cities |
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to demand the resignation of the prime minister. |
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Thousands of supporters of Mr. Erdogan held separate demonstrations. |
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And that's In the News from VOA Learning English. |
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I'm Steve Ember. |
