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Ready for another wild stocks ride?

Published: Friday, February 09, 2018 @ 9:36 AM

Traders work on the floor of the New York Stock Exchange moments before the Closing Bell Thursday in New York City. (Photo by Spencer Platt/Getty Images)
Traders work on the floor of the New York Stock Exchange moments before the Closing Bell Thursday in New York City. (Photo by Spencer Platt/Getty Images)

UPDATE: 1 p.m.

Stocks started strong but they’re falling now. 

The Dow Jones Industrial Average is down more than 240 points shortly before 1 p.m., a decline of more than 1 percent. 

But before 1, the pace of decline seemed to be slowing. 

The Nasdaq index is also down, close to 89 points or about 1.2 percent. 

ORIGINAL REPORT:

Investors are bracing themselves for another stocks wide ride — perhaps even another freefall — Friday morning.

The Dow Jones Industrial Average opened Friday up about 1 percent or approximately 300 points.

But is a free fall on Friday possible?

The only possible answer is: Nobody knows.

ROLLER COASTERU.S. stocks rally: Will market continue climb?

“Markets are almost impossible to forecast, no matter what anyone says,” said Shaun Bond, a professor of finance and real estate at the University of Cincinnati.

Markets overseas appeared to be joining U.S. stocks in correction territory or were at least heading in that direction. Global equity benchmarks were poised to cap their worst week in years, the Wall Street Journal and others said.

THIS WEEKDow suffers worst one-day plunge: Worried investors eye markets

A “correction” is a Wall Street term for when a broad stock index like the Dow Jones Industrial Average or the Nasdaq falls 10 percent from its most-recent high. The Dow fell 1,032.89 points Thursday to 23,860.46, which is 10.4 percent below its record close of 26,616.71 set January 26.

LAST YEAR:A year of a record-growing stock market: What you need to know

Experts say investors are eyeing the prospect of inflation growing at a rate of more than two percent, with accompanying higher interest rates, all making money more expensive at a time when a growing economy needs money.

“That will reduce corporate profitability, if borrowing prices go up,” Bond said.

And the market may also be responding to investor “expectations,” he said.

Certainly over the last 10 years, market-watchers have expected higher interest rates and inflation to rise — but those measures actually haven’t so far, not in any dramatic way, he noted.

“We’ve been at historically low levels for such a long time, I think there’s a sense we’ll start to see normalized interest rates,” Bond said.

For stock prices, “you’re going to look at average lower returns in the future.”

“There are going to be good days and bad days,” he said.

New UD office building: What we know now

Published: Sunday, May 20, 2018 @ 11:11 AM

The University of Dayton announced plans to build a new facility at 1401 S. Main St. The new office building will house The Dayton Foundation, the Dayton Development Coalition and the Universitys Fitz Center for Leadership in Community.
The University of Dayton announced plans to build a new facility at 1401 S. Main St. The new office building will house The Dayton Foundation, the Dayton Development Coalition and the Universitys Fitz Center for Leadership in Community.

The University of Dayton will soon build another campus building, this one expected to serve as home to the Dayton Development Coalition, the Dayton Foundation and the college’s Fitz Center for Leadership in Community. 

This is not just another campus building, but a new structure in the southern part of the city that has long been ripe for development potential — and has seen plenty of development already.

Here are four things to know about the announcement:

  

1. Location

The to-be-constructed building at 1401 S. Main St. will be located between Emerson’s Helix Innovation Center and Universal 1 Credit Union. It will be 38,000 square feet and will include offices for each organization along with shared meeting spaces, according to UD.

RELATED: UD building new office building on South Main 

The university plans to launch construction this year. Once construction starts, the new facility will take only a year to build, said UD provost Paul Benson.

2. The process is far along

But it’s not quite final yet. The last details are being worked out.

Both the foundation and the development coalition have signed letters of intent to lease space in the new facility, UD said Friday. Both the foundation and the coalition are today located downtown in the Kettering Tower, Dayton’s tallest building.

MORE: Three Ohio cities job-seekers are trying to escape 

The new building will put the coalition within steps of General Electric’s $51 million EPIScenter, which opened in 2013, and Emerson’s $35 million Helix Innovation Center built in 2016.

3. Growing is what UD does

Building and expanding have become UD hallmarks in nearly the past two decades.

 

Land purchases more than a decade ago set the stage for the EPIScenter and the Emerson Helix buildings.

In 2005, UD — then under the leadership of UD President Daniel Curran (today, UD president emeritus) — finalized the purchase of 49 acres of NCR Corp. property for $25 million. The property ran from Brown Street to the Great Miami River.

MORE: Fairgrounds: UD, Premier outline when, where first work could happen

Then, more than four years later, UD purchased 115 acres, including NCR’s former world headquarters at 1700 S. Patterson Blvd. and the 48-acre Old River Park property, for $18 million.

That land today is home to UD’s second biggest building (the former NCR HQ) and is considered the university’s “River Campus.”

By 2009, UD had already invested more than $200 million in new construction and renovation just in the past decade.

4. The former fairgrounds are nearby

Meanwhile, the just-announced building will be close to the former Montgomery County Fairgrounds off South Main, across from Miami Valley Hospital.

UD and Premier Health jointly own those fairgrounds — and the future awaits that property.

The 38-acre fairgrounds redevelopment is one of the most anticipated projects in recent Dayton history. Though Premier and UD have not made a final decision for the fairgrounds, they’ve proposed a number of ideas that include housing, retail and green space.

Planning NEXT, the master planning contracted to the project, in January unveiled the early vision for the fairgrounds, which calls for the first phase of development to have about 245 units of housing, 225,000 square feet of office, 60,000 square feet of retail and four acres of urban agriculture.

Study: A trio of Ohio cities job-seekers are trying to escape

Published: Sunday, May 20, 2018 @ 9:59 AM

The Proctor & Gamble headquarters complex in downtown Cincinnati. According to jobs and recruiting web site Glassdoor, Cincinnati is among the top 10 cities with the most workers seeking to move to jobs in other cities. (AP Photo/John Minchillo)
The Proctor & Gamble headquarters complex in downtown Cincinnati. According to jobs and recruiting web site Glassdoor, Cincinnati is among the top 10 cities with the most workers seeking to move to jobs in other cities. (AP Photo/John Minchillo)

Three big Ohio cities are among the top 10 cities with the most workers seeking to move to jobs elsewhere, according to a list from Glassdoor, a job and recruiting web site.

Cincinnati is No. 9 and Cleveland is No. 10 on that list, according to Glassdoor. Columbus finds itself ranked at No. 6.

A city in Rhode Island led that list of the most workers applying elsewhere for employment, the company said.

MOREPace of new home building in Dayton area slows

“The college town of Providence, R.I. topped the list of cities with the highest percentage (52.2 percent) of candidates in the metro applying for jobs elsewhere,” the site said. “Specifically, this means that more than half of job seekers in Providence are applying to jobs in other areas.”

The percentage of job seekers in Cincinnati applying for jobs in others cities was 36.2 percent, according to Glassdoor. In Cleveland, that percentage was 35.3 percent. Columbus — home of course to Ohio’s biggest university, Ohio State University — the percentage was 41.4 percent.

One of the cities to which job-seekers in Cincinnati were most likely to apply, interestingly, is Dayton, according to the study. 

In fact, among the top 10 job destinations for applicants in Cincinnati is Dayton, the study said, second only to New York City.

MORENew owner promises to bring downtown Dayton building back to life

The top two hoped-for destinations among job seekers are San Francisco, California and New York City, the study claims.

Glassdoor said the information is based on applications on its own web site, based on a sample of more than 668,000 online job applications started on Glassdoor from January 8 to 14 this year, for the 40 largest metro areas in the United States.

You can read more about the study here. 

Population, wages drag pace of home building

Published: Sunday, May 20, 2018 @ 8:58 AM


            Oberer Homes is developing more than 150 acres in Clearcreek Twp. near Red Lion for more than 70 new homes. The property sits along State Routes 741 and 122. TY GREENLEES / STAFF
Oberer Homes is developing more than 150 acres in Clearcreek Twp. near Red Lion for more than 70 new homes. The property sits along State Routes 741 and 122. TY GREENLEES / STAFF

Homes are hot again, and values have been creeping back up for years. In some markets, values have even been restored to pre-recession peaks and beyond.

One challenge in the Dayton area, however, has been a relative lack of inventory of available homes, Realtors have told this media outlet for months.

MORE: Will Target next-day delivery come to Dayton?

That squeezed inventory tends to drive prices up, creating a seller’s market and forcing shoppers to move quickly when they find the home that’s right for them.

MORE: Check out this five-bedroom, Washington Twp. home

Compounding the problem has a slowing in the building of new homes.

Here’s what area home builders and market observers have been telling us: READ MORE.

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Target next-day delivery may be coming

Published: Thursday, May 17, 2018 @ 1:01 PM

AP photo/FILE
AP photo/FILE

A next-day delivery service from Target isn’t available in Dayton yet -- but “stay tuned,” Target is saying.

The retail company announced that it is offering “Target Restock,” a next-day delivery service of household goods, available “coast to coast,” the company said.

But a cursory search on the Target Restock web site showed that the service isn’t yet available in Dayton-area ZIP codes yet. 

That may change in time, the company said. 

“Apologies for the disappointment, but stay tuned,” the company’s @AskTarget Twitter account said Thursday. “Target Restock will continue to launch in several markets throughout 2018.”

The deliveries are free for all Target REDcard purchases, and cost $2.99 for other orders. There is no membership fee, the company said.

MOREDollar General is holding a job fair Thursday 

The service will reach “more than 75 percent” of the U.S. population, Target said.

But not the Dayton area, at least not yet. A quick search at the Restock site Thursday morning of Dayton-area ZIP codes show that the service doesn’t appear to be available in this area, at least for the moment. 

Search attempts for ZIP codes linked to suburbs south and east of Dayton show that the service isn’t yet available in those areas either.

Customers may order household goods online by 7 p.m., Monday through Friday and have “Restock boxes” delivered the next day.

“Target Restock is another way we’re making life easier for our busy, budget-conscious guests,” Dawn Block, Target’s senior vice president of digital, said in an announcement. “Our guests love the speed and convenience of the service. And now that Target Restock is an even better value, we think the service will become increasingly popular.”

Orders can be up to 45 pounds, monitored by an online tracker, the company said.