The stock market jumped higher today with some considering the market oversold, government reports due this week, and new stimulus in Asia. Personal income came in a little bit better than expected and homes sales were higher last month thanks to the mid-west and sales in the west. The Dow Jones was up almost 300 points while the S&P 500 moved up 1.25% overall. Energy stocks were the strongest even as oil prices declined more.

Winning the office pool this March for the NCAA Tournament is something that needs to be claimed on your taxes as a gambling win. Luckily you can offset the win with any gambling loses that you had during the year. Keep track of your loses so you do not need to pay taxes this year on the gain. Winning the brackets is never easy but in case you have the best one in your office, keep some things in mind.

General Motors has had a rough year with record numbers of recalls for ignition issues. And  now they are facing disgruntled investors ready for a proxy fight. To calm the anger of the investors, the company is going to buy back $5 billion in stock giving support to the stock.

Americans have utilized the popular 529 plans to save for college to the tune of $248 billion. The amount in those plans grew by 9% last year. And it has become very popular to save for college as early as when a child is one years old. The College Savings Plans Network advices that this is a smart move by parents as the cost of college continues to rise. The average value of these accounts is now at $20,000. But costs continue to rise and the government only finds new ways to keep the cost of college on an upward trend.

Labor markets improved last week according to government reports showing the number filing for unemployment benefits decreased more than expected. Initial claims came in at 283,000, which was 21,000 people lower than the previous period and lower than anticipated. The general consensus was initial claims would come in closer to 295,000. Some economist have become very optimistic about labor markets while others point to real employment and the low participation rates among other negative signs.

Declines in IBM offset some of the gains made by investors looking forward to the European Central Bank announcement Thursday, where the group is expected to purchase more bonds to stimulate the economy. The Euro Zone has had some economic troubles as of late and investors see the new stimulus as overdue. Asian stocks also moved higher later in the day after the US markets rose.

The minutes of the latest Federal Reserve meeting showed that members are not likely to consider raising rates until April and might not inclined to do so if inflation remains at a low level. The minutes from December 16th and 17th voice concern about raising rates and many believe that will keep them at zero for a couple more meetings. Chairman Janet Yellen gave a speech after the meeting about the timing of an interest rate increase and the minutes support her belief that we are still months away from such an action.

The Russian Central Bank raised interest rates to 17% overnight hoping to stem the fall of the Russian Ruble as the country’s main source of revenue, oil, dropped in price at historic rates. A glut in oil production has created a supply abundance worldwide. Since a debt default in 1998, the Russian economy has not been hit so hard. Interest rates were already high at 10.5% before the move that did not have the affect on the currency the central bank had hoped for. The currency remained soft in trading today. Interest rates were raised to encourage holders to keep their cash for additional future increases.

Many consumers have decided that deals presented on CyberMonday will be around longer or start earlier than one day and therefore have delayed making an immediate purchase, according to released reports. As shoppers returned to work, stores saw a 8.5% increase in CyberMonday sales compared to the same day in 2013. This is down compared to the 20.6% jump that consumers saw in 2013 over the prior year. Some see this as a maturing of the shopping habits of consumers during the Christmas season.

Tech hungry investors should take a look at the robust TradeStation platform for their stock brokerage accounts. This trade platform offers 3rd party integration, tools that are very original, advanced monitoring, and great help support. The fees can get a little expense if you do not meet minimums, but overall a great platform/brokerage. At this time you can get 90 days of commission free trading when you sign-up.