GOOD DAY FOR: American supremacy, after Brazil overtook China as the largest emerging market, as measured by leading stock index. Brazil’s benchmark Bovespa index rose above the Shanghai Composite, according to Citigroup, thanks to strong growth in state-run oil giant Petroleo Brasileiro. The MSCI All Country World index now ranks Brazil as the world’s 10th largest market. (MarketWatch)
BAD DAY FOR: Nest eggs, as more and more workers are dipping into their 401(k) retirement accounts as other loan sources dry up amid the credit crunch and housing rout. According to a new study, 18 percent of workers had a loan from their retirement account in 2007, up from 11 percent in 2006. Experts generally frown on such loans. (The Wall Street Journal)
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Why Rikers Island will no longer be under New York City's controlThe Explainer A 'remediation manager' has been appointed to run the infamous jail
-
California may pull health care from eligible undocumented migrantsIN THE SPOTLIGHT After pushing for universal health care for all Californians regardless of immigration status, Gov. Gavin Newsom's latest budget proposal backs away from a key campaign promise
-
Is Apple breaking up with Google?Today's Big Question Google is the default search engine in the Safari browser. The emergence of artificial intelligence could change that.
