Fidelity, a popular brokerage house, today published a survey
that revealed a record number of workers made hardship withdrawals
from their retirement accounts in the second quarter of 2010.
Rising unemployment and corporate cut-backs on overtime and
overall hours have reduced the take-home pay of many workers. This
trend has forced many workers to get a grip on their spending
habits. Although the media loves to brag about the resilience of
the American consumer, free spending is nothing to be proud of. Our
country's workers face large debt levels, which are a contributing
factor in the current economic malaise. Saving, rather than
spending, needs to become more of the mantra of the people, and
hopefully we will see a healthy balance of responsible consumers
and an economy that can shed its reliance on a consumer spending
Speaking of pulling funds out, sellers did a little of that once
again taking some money off the table. Hewlett Packard (
) finished lower following the company's earnings release.
Elsewhere, Visa (
) and Mastercard (
) pushed lower. Bucking the early drop were shares of J.M. Smucker
) following the company's solid first quarter results.
Looking ahead to next week, we will see less companies reporting
as we head toward the end of the earnings season. The bigger names
reporting earnings next week include Burger King (
) , American Eagle Outfitters (
) , and Tiffany (
) . Be sure to catch up with our updated dividend watchlists on
Dividend.com Premium, and stay tuned for possible updates to our
Best Dividend Stocks List
Have a great weekend!
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, as well as a detailed explanation of
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