Personal Finance Daily: Don't stress over bank stress tests

Personal Finance Daily MARCH 15, 2012 Thursday's Personal Finance Stories By MarketWatch Don't miss these top stories: What if your bank didn't pass the stress test? Foreclosure activity rises in some states Trading Deck: A swing strategy to profit in all markets Memories of the first Nasdaq 3,000 in 1999. If your bank was one of four institutions that didn't pass the Federal Reserve's "stress test," you really don't need to worry about its viability, Jennifer Waters writes in her Consumer Confidential column. What bank customers should be concerned about is whether their deposits are fully covered by the Federal Deposit Insurance Corp. — and really, that's a good rule to follow regardless of where you bank. Also on MarketWatch, RealtyTrac reports foreclosure activity was down in February nationwide, but is rising in some states, such as Florida. Also, the average rate for the 30-year fixed mortgage edged up over the past week. — Anne Stanley , managing editor, Personal Finance What if your bank didn't pass the stress test? Consumers banking at one of the four financial institutions that did not pass the Fed's stress test shouldn't worry about their banks failing, but they should be concerned if their deposits exceed federally insured limits. Read more: What if your bank didn't pass the stress test? 30-year fixed-rate mortgage rises to 3.92% Mortgage rates tick higher on the week, in the aftermath of an upbeat government report on U.S. employment. Read more: 30-year fixed-rate mortgage rises to 3.92%. Foreclosure activity rising in some states While foreclosure activity fell 8% nationally compared with a year ago, foreclosures appear to be on the rise in some of the country's most populated metropolitan areas, according to RealtyTrac's latest report. Read more: Foreclosure activity rising in some states. INVESTING A swing strategy to profit in all markets Thomas Kee writes in the Trading Deck blog that smaller investors are being enticed back into the market. They think it will go straight up because everything looks great, but smarter investors are hedging those bets. Smarter investors are looking for strategies that can work if the market goes up or if it goes down. Read more: A swing strategy to profit in all markets. 5 ways investors can beat the retirement bandits Millions of Americans have worked hard for a lifetime and somehow tucked away enough money to take care of their retirement. Yet because of demography, taxes and debt, their nest egg may not get the job done, writes Steve Beck. Read more: 5 ways investors can beat the retirement bandits. Citi doesn't need the Fed's backing to be bullish Citigroup Inc. (C) passed the Fed's "stress test," but its plan to return capital to shareholders was rejected. This shouldn't change the stock's outlook, writes Tomi Kilgore. Read more: Citi doesn't need the Fed's backing to be bullish. Memories of the first Nasdaq 3,000 in 1999 As the Nasdaq hits 3,000, it might be useful to walk down memory lane and look at the tech world over a decade ago, writes Therese Poletti. Read more: Memories of the first Nasdaq 3,000 in 1999. Broken bull bouncing back A top-performing letter, whipsawed last year, seems to have regained its confidence, writes Peter Brimelow. Read more: Broken bull bouncing back. ECONOMY AND POLITICS New York, Philly indexes hit multimonth peaks The Empire State manufacturing index rose to 20.2 in March, its highest level since June 2010, the New York Federal Reserve Bank reports. Separately, the Philadelphia Fed survey of current activity widened to its highest reading since last April. Read more: New York, Philly indexes hit multimonth peaks. U.S. wholesale prices climb 0.4% in February U.S. wholesale prices post the biggest increase in February in five months as a spike in oil adds to the cost of doing business. Read more: U.S. wholesale prices climb in February. U.S. jobless claims match four-year low The number of people who filed applications for U.S. unemployment benefits fall by 14,000 last week and match a four-year low, the Labor Department says Thursday. Read more: U.S. jobless claims match four-year lows. INTERNATIONAL Scotland debates leaving 300-year-old union Scotland's ruling Scottish National Party party is pushing for a referendum on independence from Britain in 2014. Read more: Scotland debates leaving 300-year-old union. Scots want to stay in U.K. for economy, identity Scotland's Alex Salmond is pushing hard for his country to leave the union with Britain, but poll data show many Scots are against independence. Read more: Scots want to stay in U.K. for economy, identity. Scottish fund managers ponder U.K. breakup Scotland's financial-services industry has for several hundred years taken cues from London, but that could change if a proposed 2014 vote in the Celtic nation backs a break from the U.K.'s 300-year-old union. Read more: Scottish fund managers ponder U.K. breakup. India's RBI holds rates steady ahead of budget Central bank stands pat, citing inflation risks for India tied to rising crude prices, rupee pressures and fiscal spending. Read more: India's RBI holds rates steady ahead of budget. China February foreign direct investment slows Direct overseas investment flows into China fell for the fourth straight month in February, according to data. Read more: China February foreign direct investment slows. Bo Xilai replaced as Chongqing Party chief Bo Xilai, the Communist Party chief of the southwestern Chinese megacity of Chongqing, reportedly has been replaced by Vice Premier Zhang Dejiang. Read more: Bo Xilai replaced as Chongqing Party chief. 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