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MarketWatch for Friday, August 16, 2013

If you're keeping on top of the stock markets this morning, Friday, August 16, 2013, 2013...
If you're keeping on top of the stock markets this morning, Friday, August 16, 2013, 2013...

The Nikkei is down 102 points today in Japan.
The Dow dropped 225 points Thursday, the biggest one day drop since late June.
The Nasdaq slid 63.


News of a strengthening economy actually hurt the stock market.  Upbeat reports on the job market and inflation may increase the odds that the Federal Reserve will start pulling back its bond buying program as early as next month. That program has helped keep interest rates low and that has helped support the stock market's record run.

Mortgage rates held steady this week. According to Freddie Mac, the average rate on a 30 year loan was unchanged at 4.40 percent. That's a full percentage point higher than in early May. The average rate on a 15 year loan inched up to 3.44 percent. Mortgage rates spiked in June after the Federal Reserve hinted it may slow its bond buying program this year.
           
Facebook wants to give Paypal a run for its money.  In its push to be more mobile-friendly, Facebook is testing a new product that would let you make purchases on your mobile device with credit card information already stored on your Facebook account.  The company says it would allow users to buy things using a mobile app without the challenge of inputting payment details on a small hand-held device.

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