This stock is the big winner as oil rebounds

The company's shares are the hottest thing in the stock market this week -- besides Netflix (NFLX, Tech30), of course.

Don't know much about Transocean (RIG)? It's a huge offshore drilling company that you may have heard before because it owned the rig that exploded causing the 2010 Gulf of Mexico oil spill.

Transocean stock is up a whopping 13% this week alone. That's the best performance among all S&P 500 energy stocks.

The rally for Transocean and other drilling companies in recent days is a direct result of the huge rebound for crude oil, which has surged 35% since the mid-March lows.

Just a few weeks ago some smart people on Wall Street predicted oil could tumble to just $30. Now at least some investors are betting the worst is over for oil. It's closed higher for six consecutive days, with the latest gains coming after a new report showed U.S. oil supplies didn't grow by as much as feared. The price is now over $56 a barrel.

Related: Oil just hit its highest price of 2015

Cheering oil higher: While American drivers will greet higher oil prices with sighs, the rebound is great news for most energy companies -- and their shareholders.

People who believe oil prices are going to stay hot may instinctively want to buy shares of brand name oil companies like Exxon (XOM) and Royal Dutch Shell (RDSA). However, these energy titans have very diversified business models that protected their stock prices (somewhat) from a crash in oil prices. For example, their refining operations actually benefit from less expensive crude.

They didn't go down as much as some other energy companies, so they are unlikely to see as big of a rebound.

Related: Bond king: Stop being 'cute' and buying energy stocks

Drillers make a comeback: The real beneficiaries of higher oil prices are likely to be drilling stocks like Transocean that really crumbled as oil fell over 50% since last summer. Business slowed drastically as big oil companies scrapped expensive projects that were no longer economical. After all, Transocean's deepwater rigs can cost $500,000 to rent -- each day.

That's why this group of stocks, led by Transocean and rivals Noble (NBL) and Ensco (ESV), was the worst performer in the entire S&P 500 last year as they cut dividends and abandoned share buyback programs. The damage even caused Transocean to abruptly part ways with Steven Newman, its CEO.

Transocean is one of the world's largest providers of deepwater rigs. In 2014, a judge ruled that Transocean was negligent in the Gulf of Mexico disaster that caused the death of 11 workers and the spilling of nearly 5 million barrels of oil.

Related: The 'smart money' is investing in oil now

Time to buy? If oil prices keep rallying, look for Transocean to follow it higher. While the stock surged above $18 this week, it's still a shell of its former self.

As existing Transocean shareholders know, it's still down 60% from its 52-week high of $46.12 -- the most out of any S&P 500 stock. The good news is that means it may have a lot more room to run.

Earlier this week Morgan Stanley said it's "calling the bottom" for oilfield services stocks like Transocean. These stocks have enjoyed a multi-month rally at this point in previous cycles, the firm said.

"We believe that now is a good time to build or increase a position in oil services stocks," Morgan Stanley analyst Ole Slorer wrote in a report. The firm said these stocks could soar by 30% to 40% if commodity prices improve, but they only face 10% to 15% of downside if oil retreats.

"Based on what we have seen in prior cycles, these characteristics translate into a very attractive risk reward," Slorer wrote.

Related: US could be energy independent within four years

Related: Netflix stock tops $500 for first time ever. Next stop = $900?

Related: How to invest $1,000

CNNMoney (New York) April 17, 2015: 5:50 AM ET

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Stocks: Six things to know before the open

U.S. stocks fell Thursday.

But fear not, CNNMoney brings you the six things you need to know before the opening bell rings in New York:

1. Bloomberg outage: Bloomberg terminals around the world were down this morning. A member of Bloomberg's technical support team told CNNMoney he could not estimate when the outage would be resolved.

Bloomberg has more than 300,000 terminals globally.

2. Futures flat: U.S. stock futures were mostly flat in early trading on Friday. The Dow Jones industrial average fell 30 points in the early trading. The S&P 500 slipped 0.18% and the Nasdaq edged 0.2% lower in the premarkets.

Related: Fear & Greed Index

3. Stock market movers -- Mattel, Schlumberger, Netflix: Mattel (MAT) was up as much as 8% in after hours trading following its latest quarterly earnings. Although revenue fell from a year ago and the company posted a loss, sales topped forecasts and the loss wasn't as big as expected.

Shares of Schlumberger (SLB) also rose in extended trading after the oil services company said it was laying off another 11,000 workers. The stock was edging up 1% premarket.

Netflix (NFLX, Tech30) climbed 1% premarket after showing strong subscriber growth earlier this week. Worth over $500 a share, Netflix is the best performer by far in the S&P 500 this year, with analysts expecting further growth.

4. Earnings and economics: General Electric (GE) and Honeywell (HON) are reporting ahead of the open.
The Bureau of Labor Statistics will report on the CPI at 8:30 a.m. ET.

Unemployment in U.K. fell to 5.6% in February, the lowest since 2008. Jobs are a big topic ahead of the general election next month.

Related: CNNMoney's Tech30

5. International markets overview: European markets were mainly weaker in early trading. Asian markets ended the week mixed. China's Shanghai Composite climbed 2.2%, while the Nikkei ended the session 1.17% down.

The Greek drama was once again worrying markets after German Finance Minister Wolfgang Schaeuble said he doubted a deal between Greece and its creditors could be reached next week. Greek bond yields climbed further.

6. Thursday market recap: The Dow Jones industrial average fell by 7 points, while the S&P 500 slipped 0.08% and the Nasdaq edged 0.06% lower.

Related: Have an investing question? Ask CNNMoney!

CNNMoney (London) April 17, 2015: 5:34 AM ET

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Bloomberg screens go dark worldwide

The global outage began just as the London trading day was beginning, and forced the postponement of an auction of U.K. government debt.

A member of Bloomberg's technical support team told CNNMoney the company did not yet know what had caused the outage, and could not estimate when its products would be working again.

Bloomberg spokespeople did not respond to requests for comment but the company tweeted that it was restoring service to customers and investigating the cause.

Founded by Michael Bloomberg, the company is one of the leading providers of financial information and dealing systems in the world. More than 300,000 people subscribe to its flagship Bloomberg Professional product.

It competes with companies such as Thomson Reuters (TRI), Factset (FDS), Markit (MRKT) and others, and performs a vital role in providing secure systems for traders and investors in stocks, bonds, currency and commodity markets.

Many Bloomberg users were tweeting their frustration, while others saw the outage as an excuse to put their feet up Friday.

-- Ivana Kottasova contributed to this article.

CNNMoney (London) April 17, 2015: 6:22 AM ET

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Japan now holds more U.S. debt than China

Data from the Treasury Department released Wednesday show that Japan owned $1.2244 trillion worth of U.S. government securities at the end of February, compared to $1.2237 trillion for China.

Both countries unloaded U.S. debt during the month of January, but China sold more, making Japan the top U.S. creditor for the first time since the financial crisis.

The Treasury data should be taken with a grain of salt: Transactions carried out by other nations on behalf of China and Japan aren't included, making the final tally more of an educated guess.

Related: Bubble trouble? China's stock market looks too hot

But the Japan-China switch is backed by larger trends, and changes in the way Beijing manages its foreign reserves. Treasury data show that over the past year, China's U.S. debt holdings dropped by $49.2 billion, while Japan's increased by $13.6 billion.

China had been buying Treasuries as a way to keep its currency, the yuan, pegged to the U.S. dollar. That helped lower the value of the yuan and made China's exports more competitive in foreign markets.

But in recent years, partly due to U.S. pressure and partly as an effort to curb its own inflation, China has allowed the yuan to rise in value.

Closer to home, there's another major buyer of U.S. debt: the Federal Reserve. At last count the central bank owned around $2.5 trillion worth of Treasuries, up from around $800 billion at the end of 2007.

Related: U.S. runs out of investor visas again as Chinese flood program

CNNMoney (Hong Kong) April 15, 2015: 11:32 PM ET

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Stocks: 5 things to know before the open

U.S. stock futures were flat in early trading while international markets were mixed.

Here are five things you need to know before the opening bell rings in New York:

Related: Fear & Greed Index

1. Earnings and market movers: It's a big day for the financial sector, with Citigroup (C) and Goldman Sachs (GS) reporting ahead of the open. American Express (AXP) will report after the close.

Etsy (ETSY) will start trading Thursday on the Nasdaq. It priced its initial public offering at $16 a share Wednesday, the high end of its expected range.

Watch out for Netflix (NFLX, Tech30) shares today: the stock is rallying nearly 12% premarket following a surge in after-hours trading as the firm reported it added 4.9 million members during the first quarter.

2. Economic updates: The U.S. government will post weekly jobless claims at 8:30 a.m. ET. The Census Bureau will report monthly housing starts and building permits, also at 8:30 a.m. ET.

3. Oil moves: Crude is slipping back in electronic trading to just below $56 a barrel after hitting a 2015 high on Wednesday.

OPEC releases its monthly report March Thursday, on the heels of an update from the International Energy Agency which showed the cartel is fighting hard to keep its share of the world oil market despite last year's price slump.

Related: OPEC pumps up output in fight for market share

4. Leaders gather: The G20 finance ministers and central bank governors gather in Washington ahead of meetings of the World Bank and the IMF.

Greece is also in town. Finance Minister Yanis Varoufakis will meet President Obama today ahead of crucial talks between creditors next week.

The cash-strapped country, which had its credit rating downgraded by S&P again on Wednesday, must present reform proposals to its international backers by the end of the month or risk default and exit from the euro. Germany is again talking tough: Finance Minister Wolfgang Schäuble said it was unlikely Europe would reach a deal with Athens next week, according to reports. And investor nerves are showing, with Greek bond yields rising strongly Thursday.

Related: CNNMoney's Tech30

5. International markets overview: European markets were mainly weaker in early trading. But Unilever (UL) shares got a 4.4% boost in London after first quarter sales beat expectations.

Asian markets ended the session with gains. China's Shanghai Composite pared Wednesday's losses with a 2.7% jump. Stocks in China are on fire -- up nearly 80% since November -- stoking fears that a bubble is forming.

On Wednesday the Dow Jones industrial average gained 76 points, while the S&P 500 rose 0.5% and the Nasdaq closed 0.7% higher.

Related: Have an investing question? Ask CNNMoney!

CNNMoney (London) April 16, 2015: 4:57 AM ET

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Is Britain booming, or barely coping?

With the U.K. election just weeks away, the government is boasting about the recovery. But listen to the opposition and you would think people are barely coping.

What do the facts say? GDP is growing, employment is at a record high, and consumers are the most confident they've been for 12 years. Interest rates are at record lows, and tumbling oil prices have wiped out inflation.

But the economic sweet spot is still not being felt by many people. This could be why:

A slow recovery

Conservative Chancellor George Osborne says Britain is "walking tall again," having left the recession behind. At first glance, the numbers support his statement. The U.K. economy grew by 2.8% in 2014. That's faster than any other major developed country, and double the European Union average of 1.4%.

This looks good on paper, but researchers from the Institute of Fiscal Studies say the economy is still convalescing. Its data show the recovery has been the slowest since the 1920s. And economic output per head is still 1.2% lower than it was before the global financial crisis.

Related: UK tells businesses to pay their workers more

The reason is that Britain is still much less efficient than the United States, Germany and all other G7 economies, with the exception of Japan.

So Britain is growing, but mainly thanks to consumer spending, which was the biggest source of GDP growth in 2014, the IFS said. And with real incomes stagnating, much of that shopping is going on the credit card. Consumer borrowing is at its highest level since the crisis.

"The economy is swimming in a pool wearing giant water wings. That's no time to be overly confident," said Peter Urwin, professor of economics at Westminster University.

Related: Austerity to shrink U.K. government spending to 1930s levels

Persistent debt

Despite recent strong growth, a tough austerity program, and a public sector pay freeze, Britain is still running a budget deficit of about 5% of GDP.

That is higher than most European countries -- the EU average is just over 3%. The government had promised to cut the deficit to zero by now, but years of weak growth and tax receipts made that impossible to achieve.

At the same time, people are borrowing more. Non-mortgage debt rose 9% to a record high last year, according to data from PWC (PWESF). Low interest rates are encouraging people to take on new loans.

"People are spending extra money that they do not have, because borrowing is virtually free for many of them," Urwin said.

Related: Why Europe matters to Britain

Pay & employment

The U.K. is creating jobs at a record pace, and unemployment is at its lowest level since 2008.

But labor unions say many of the new jobs are part time, insecure, and offer low pay. They claim 1.3 million people are forced to work part time because they can't find full time work. And the numbers of people employed on "zero hours" contracts -- offering no guarantee of work, and little notice of shifts -- or working for themselves is rising.

Earnings have been growing at a slower pace than prices for most of the last five years, meaning real wages have fallen since the global financial crisis began.

Stephen Machin from the London School of Economics said average real wages have dropped by as much as 10% in since 2008. Prime Minister David Cameron has called on businesses to pay more.

Austerity & inequality

Big government spending cuts since the 2010 election have either driven the recovery, or held it back, depending on who you believe.

But the austerity measures have hurt younger and poorer people more than pensioners and the rich.

Pensions and health services have been protected from spending cuts, while many welfare benefits have been slashed. The Center for Welfare Reform estimates people living in poverty bore 39% of the government cuts.

And austerity will continue for a few more years. Both main parties say they want to balance the books by 2020 -- the Conservatives primarily through spending cuts, the Labour Party through a mix of cuts and tax rises.

But the International Monetary Fund has warned the next government will have a hard time eradicating the deficit because it believes growth will be weaker than forecast.

Related: U.K. election is a scary prospect for business

CNNMoney (London) April 16, 2015: 6:26 AM ET

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GM shielded from ignition lawsuits by bankruptcy rule

The decision by Federal Bankruptcy Court Judge Robert Gerber upholds GM's so-called bankruptcy shield. GM acquired the shield as part of its bankruptcy reorganization when a new company was created in 2009, referred to in court as "New GM."

"Judge Gerber properly concluded that claims based on Old GM's conduct are barred," the automaker said in a statement.

The shield had been challenged both by some personal injury attorneys as well as lawyers suing on behalf of owners of the recalled cars to recover damages for the diminished value of the recalled cars.

The decision could prevent lawsuits that would have cost "New GM" billions of dollars.

"This ruling padlocks the courthouse doors," said Robert Hilliard, one of the attorneys suing GM. "Hundreds of victims and their families will go to bed tonight forever deprived of justice. GM, bathing in billions may now turn its back on the dead and injured, worry free."

The decision left the possibility for some suits to proceed if the plaintiffs can prove misdeeds by the company after the 2009 bankruptcy, "so long as those plaintiffs' claims do not in any way rely on any acts or conduct by old GM."

The old and new version of the tiny part that is at the center of the GM recall.

GM (GM) shares were up about 1% in after-hours trading following the decision.

Problems with millions of cars with faulty ignition switches, most of them built before the bankruptcy, have been tied to at least 84 deaths. It is not immediately clear how many of the accidents occurred after the bankruptcy. Accidents that occurred in the years following 2009 were not protected by the shield.

GM has admitted that its employees were wrong not to order a recall of the cars about a decade before the 2014 recall.

The decision will not stop GM from paying an estimated $400 million to victims and their family members. But GM set up a compensation fund voluntarily without waiving the legal protections it acquired as part of the bankruptcy process on pre-2009 accidents.

Related: Recall victim - GM shouldn't get a tax break from settlement

Related: Barra's recall apology not enough, families say

Related: GM settles second suit with recall whistle-blower

CNNMoney (New York) April 15, 2015: 7:03 PM ET

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Bubble trouble: China's stock market looks too hot

Chinese equities are officially on fire. The Shanghai Composite has skyrocketed 78% since just before Halloween. It recently crested the 4,000 level for the first time since the financial crisis.

Yet stocks in China have achieved red-hot status just as the country's economy is going through a cooling off period. Growth slowed to the weakest pace since 2009.

In other words, exuberance for Chinese stocks isn't being backed up by fundamentals. Instead, the market is being carried higher by various forms of government stimulus and investor frenzy.

All of this raises the question: Is China in the midst of a bubble? And if it is, what should American investors do?

"Certainly a bubble exists," said Ankur Patel, chief investment officer at R-Squared Macro Management.

Rather than enjoy the ride up or try to profit from its eventual popping, Patel said the prudent move for U.S. retail investors is to stay away from the Chinese market altogether.

"The problem with any bubble is if you try to bet against it, bubbles can become even more irrational. The herd mentality can essentially run investors over," he said.

Related: China stocks are on an incredible mystery run

Equity euphoria hits China: There are growing signs of speculative fervor in China.

In recent years, people in China -- who tend to save significantly more than their Western counterparts -- sunk their excess savings into the real estate market.

Now that the bubble in housing is deflating, they are latching onto the skyrocketing stock market. Investors opened 4.8 million new stock trading accounts in March and then another million more in early April, according to the Financial Times.

"There's no question there's a lot of domestic euphoria about equities within China," said Albert Brenner, director of asset allocation strategy at People's United Wealth Management.

Several Chinese retail investors polled by CNNMoney said they trade stocks frequently -- up to several times a day -- in part to have fun. One Shanghai woman, who didn't give her full name, said she's not worried about trading expenses hurting performance because "fees tend to drop during bullish markets anyway."

Non-Chinese investors are also taking notice. Exchange-traded funds that track China -- the best way for U.S. investors to play China -- have soared. The iShares MSCI China ETF (MCHI) and SPDR S&P China ETF (GXC) are both up over 20% so far this year.

Related: China's stock market finally opens up to foreigners. Now what?

Liquidity-fueled bubble? Hoping to avoid a so-called "hard landing," China's central bank is pumping liquidity into the market by cutting rates. That's good for risky assets like stocks, but liquidity-driven moves are susceptible to bubbles.

Liquidity is also being pumped by the Hong-Kong Shanghai Stock Connect Program, which allows investors to buy Shanghai stocks through Hong Kong -- and vice versa. Not only is fresh foreign capital flowing onto Mainland China for the first time, but excess liquidity inside China is flooding into Hong Kong.

Related: Chinese investors trade way more than Americans

Goldman Sachs isn't worried: Of course, not everyone believes it's time to call China's rapid rise a bubble.

Timothy Moe, co-head of macro research in Asia at Goldman Sachs, told CNBC the market "certainly is getting frothy" amid "very frenetic retail activity."

"Is that a bubble that will crash the system? The answer is not yet," Moe said.

In other words, just because Chinese stocks look very speculative doesn't mean the party has to end today.

One possibility, Patel said, is for the bubble to end "benignly" if China's growth regains momentum, justifying current valuations. He said that looks unlikely and there's a better chance the opposite will occur.

Another possible outcome is the stock market keeps roaring ahead before imploding, like it did the last time.

"To be clear, what's underway in China is an out-and-out bubble, but there's plenty of money to be made riding bubbles up a bit," Bespoke Investment Group wrote in a note to clients. The firm said it "may be worthwhile to consider a small position" in Chinese ETFs like the SPDR S&P China ETF (GXC).

Just remember: Bubbles are notoriously difficult to time, even for sophisticated investors.

Related: This man bet $100K there's a startup bubble

Related: Investors are lining up to get into Iran

Related: How to invest $1,00

CNNMoney (New York) April 15, 2015: 10:10 PM ET

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Japan now holds more U.S. debt than China

Data from the Treasury Department released Wednesday show that Japan owned $1.2244 trillion worth of U.S. government securities at the end of February, compared to $1.2237 trillion for China.

Both countries unloaded U.S. debt during the month of January, but China sold more, making Japan the top U.S. creditor for the first time since the financial crisis.

The Treasury data should be taken with a grain of salt: Transactions carried out by other nations on behalf of China and Japan aren't included, making the final tally more of an educated guess.

Related: Bubble trouble? China's stock market looks too hot

But the Japan-China switch is backed by larger trends, and changes in the way Beijing manages its foreign reserves. Treasury data show that over the past year, China's U.S. debt holdings dropped by $49.2 billion, while Japan's increased by $13.6 billion.

China had been buying Treasuries as a way to keep its currency, the yuan, pegged to the U.S. dollar. That helped lower the value of the yuan and made China's exports more competitive in foreign markets.

But in recent years, partly due to U.S. pressure and partly as an effort to curb its own inflation, China has allowed the yuan to rise in value.

Closer to home, there's another major buyer of U.S. debt: the Federal Reserve. At last count the central bank owned around $2.5 trillion worth of Treasuries, up from around $800 billion at the end of 2007.

Related: U.S. runs out of investor visas again as Chinese flood program

CNNMoney (Hong Kong) April 15, 2015: 11:32 PM ET

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Stocks: 5 things to know before the open

U.S. stock futures are edging higher, with the S&P and Dow futures both up about 0.1%.

Here are five things you need to know before the opening bell rings in New York:

Related: Fear & Greed Index

1. China slows: The world's second largest economy grew at its slowest pace in six years, intensifying pressure on the government to boost stimulus measures. China's GDP expanded by 7% in the first three months of 2015. That was in line with expectations but down from 7.3% in the fourth quarter of 2014.

2. Telecoms and tech: Nokia (NOK) confirmed it is buying Alcatel-Lucent (ALALF) in a €15.6 billion ($16.6 billion) deal that will create a telecoms equipment giant. Nokia shares gained 1.5%, while Alcatel's stock sank nearly 12% after jumping 16% Tuesday on news of the takeover talks.

Google (GOOG) is another tech stock to watch today. Media reports suggest European regulators are preparing to file formal charges after a long running antitrust investigation over concerns the search giant has too much market power.

Related: Nokia is buying Alcatel-Lucent

3. ECB meeting: The European Central Bank is expected leave interest rates at ultra-low levels when it delivers a policy update later Wednesday. Investors will be looking for comments from president Mario Draghi on the outlook for its massive bond buying program launched last month in a bid to boost the economy.

They'll also pay close attention to Draghi's remarks on the state of talks with Greece over its bailout program. Greece needs to reach a deal on economic reforms with its European creditors and the IMF by the end of April or face default on its massive debt.

4. Earnings and economics: Bank of America (BAC), PNC (PNC) and Delta Airlines (DAL) will report ahead of the open. Netflix (NFLX, Tech30) delivers its results after the close.

On the economic front, the NAHB/Wells Fargo Housing Market Index will be updated at 10 a.m. ET. The Federal Reserve will publish its Beige Book report on the economy at 2 p.m. ET.

Related: CNNMoney's Tech30

5. International markets overview: European markets were rising in early trading. Burberry (BBRYF)was a notable mover, with shares up 2% in London trading, after the luxury goods maker reported a rise in second half sales.

Most Asian markets finished with modest losses, though China's Shanghai Composite dropped 1.2% on the fall in GDP.

On Tuesday the Dow Jones industrial average gained 60 points, while the S&P 500 rose 0.2% and the Nasdaq slid 0.22%.

Related: Have an investing question? Ask CNNMoney!

CNNMoney (London) April 15, 2015: 6:36 AM ET

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Guess where the hottest housing markets are?

Homes in San Francisco are selling fast: 26% are still for sale after 60 days.

Of the top 10 fastest-moving housing markets, 8 are located in California, with San Francisco, San Jose and Oakland taking the top three spots, according to a report from Trulia. At least 70% of homes in these three areas sold in two months or less.

"California has seen very strong job growth, especially in coastal markets," said Ralph McLaughlin, housing economist at Trulia. Lack of supply in these markets also plays a factor. "The amount of new housing that gets built is relatively small compared to other parts of the country."

San Francisco, which had a median asking price of $1,099,000 in April, topped the list and has particularly low new construction levels thanks to its topography and building regulations, according to McLaughlin. "The process of adding new supply is more difficult here ... for natural and legal reasons."

Related: It's getting harder to afford a home

The report tracked home sales listed on Trulia in the 100 biggest metro areas in the U.S. on Feb. 5 and were still available on April 5. In addition to the 8 cities in California, Seattle and Salt Lake City, Utah, also made the top 10 list.

Farther south in the Golden State, homes in San Diego are also selling at a rapid pace with 33% of homes listed in February still available 60 days later, down from 44% the year prior.

On a national level, 40% of homes moved off the market in the two-month period, a slight increase from 38% during the same time period in 2014, the report showed. On average, lower-priced homes in the fast-moving markets sold the quickest, with half still on the market after two months.

This means buyers, especially first-timers, need to go into their house hunt prepared, advised McLaughlin.

"Not only is it more difficult to buy where homes are moving fastest, the homes first-timers would buy are moving faster compared to middle and higher-priced homes. It's a double whammy."

Tool: What will your mortgage payment be?

Overall, housing markets that have experienced strong price gains in the last year have also moved the fastest, McLaughlin added.

Sellers remain in control in many Florida markets as well, with 47% of homes in the Cape Coral-Fort Myers area still for sale after 60 days. Last year, 64% of homes were still on the market in this area during the same time period. West Palm Beach, Fort Lauderdale and Orlando also saw homes selling faster than in 2014.

However, in Miami, buyers might have more of an upper hand with 65% of homes still sitting on the market after two months, compared to 56% last year. "Miami has had a huge condo boom ... the end of last year and the start of this year was about the time the condos came to the market," McLaughlin said. "Compounding that, over the last year-and-a-half, affordability in Miami has dropped."

Home buyers in Long Island and Albany, New York, can also breathe a little easier in their search, as 69% and 71% of homes, respectively, were still on the market after two months.

10 fastest-moving housing markets

Rank	Metro	Homes still for sale after 2 months April 2015	Homes still for sale after 2 months April 2014
1	San Francisco, CA	26%	28%
2	San Jose, CA	30%	31%
3	Oakland, CA	30%	31%
4	San Diego, CA	33%	44%
5	Orange County, CA	41%	45%
6	Seattle, WA	42%	45%
7	Sacramento, CA	42%	45%
8	Los Angeles, CA	43%	45%
9	Ventura County, CA	43%	50%
10	Salt Lake City, UT	45%	51%

Source: Trulia

CNNMoney (New York) April 15, 2015: 3:00 AM ET

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U.S. runs out of investor visas again as Chinese flood program

The State Department has announced that starting in May, no more spots will be available to Chinese for the rest of the U.S. government's fiscal year, which ends Sept. 30.

Known as EB-5, the immigration program hands out green cards to foreigners who invest at least $500,000 and create 10 jobs in the U.S. The program, which caps the number of visas issued annually at 10,000, hit its annual limit for the first time last August.

This year, the program has reached the quota even earlier, reflecting the massive jump in demand among wealthy Chinese to move to the U.S., especially after Canada ended a similar program in 2014.

The waiting line now for an EB-5 visa is estimated to stretch two to three years, according to law firm Greenberg Traurig.

There are 13,000 pending applications, and the long queue is of particular concern for investors hoping to secure green cards for their children, said immigration lawyer Bernard Wolfsdorf of Wolfsdorf Rosenthal. Kids can only get dependent visas through an investor parent if they're 21 years or younger at the time of application approval.

"Many apply so they can give their college kids a chance to attend top U.S. colleges," said Wolfsdorf. "Some parents who filed too close to the child's 21st birthday will age out."

Related: Rich Chinese overwhelm U.S. visa program

In 2014, Chinese nationals accounted for 90% of EB-5 visas issued, compared to just 13% in 2004, according to government data compiled by CNNMoney. That translated to 8,308 EB-5 visas for Chinese nationals last year, a huge surge from a decade ago, when only 16 visas were granted to Chinese.

For rich Chinese, a green card is a ticket out of China -- a way to escape heavy pollution or gain access to improved education options. The broad anti-corruption campaign that President Xi Jinping has waged has also rattled wealthy Chinese.

Advocates say immigrant investors have provided an important alternative source of financing in the U.S., especially after the financial crisis, pouring billions of dollars into new jobs and major projects such as Brooklyn's Atlantic Yards real estate development.

Related: Why the rich are ditching their home country

On top of that, wealthy immigrants contribute to their neighborhood economy by purchasing homes, buying cars and paying for their children's education.

But still, there are plenty of critics. Some say the program is a relatively cheap way for the global elite to buy citizenship. Others say the scheme has too much red tape, and believe the program is mismanaged to the point of fraud.

The Department of Justice has accused at least one Chinese couple of fraudulently obtaining visas through the EB-5 program.

In March, the U.S. government arrested Shilan Zhao, the ex-wife of a former Chinese official, on charges of immigration fraud and money laundering. The Department of Justice also claimed that the couple bought property in the U.S. with money laundered through a massive grain storage facility in China, where Qiao served as director for 13 years.

As of March 27, Qiao remained at large, according to the Justice Department.

Related: China's anti-corruption crackdown reaches U.S.

CNNMoney (Hong Kong) April 15, 2015: 4:53 AM ET

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Is this Chinese drone maker worth $10 billion?

SZ DJI Technology Co., better known as DJI, is looking to raise money from investors at a $10 billion valuation, according to media reports. A company spokesman confirmed to CNN that DJI is talking to venture capital firms, but declined to comment further.

The upstart Chinese firm is at the forefront of the drone invasion, offering professional quality machines to consumers for around $1,000. Should the funding round come off, the company's $10 billion valuation would catapult it into the ranks of elite tech startups.

DJI's drones are designed with four propellers, and are easy for beginners to control. One of the latest models, the Phantom 3, comes equipped with a camera that shoots in 4K or 1080p, and has a range of 1.2 miles (2 kilometers). The drones are used by enthusiasts, commercial clients and the media (CNN owns a few, for example).

The world got a close look at one of the company's products in January, when a DJI drone crash landed on the White House grounds, sparking worries over security. (DJI has already installed no-fly zones in some models).

This is the DJI Phantom 2 Vision, which shoots HD videos.

Still, it's a remarkable growth story: In 2006, the Shenzhen-based company had only one small office. Now DJI has more than 3,000 workers and offices in the United States, Germany and the Netherlands, among other locations. It is by far the dominant drone manufacturer.

The company's success has also helped undermine the idea that Chinese tech firms aren't as innovative as their foreign competitors.

Related: FAA allows Amazon to test drones in U.S.

DJI's CEO, Frank Wang, who founded the company while attending college in Hong Kong, says he is was proud of the company's innovation record.

"Many Chinese companies manufacture cheaper versions of advanced foreign products," he told the Wall Street Journal in November. "But we are proud to say that we have been leading the industry since we started -- even now."

"Chinese companies now are getting better; before, they lagged behind," he said. "Now, more and more Chinese companies are doing well worldwide, like Huawei, Tencent (TCEHY) and Alibaba (BABA, Tech30)."

Related: 6 companies behind the drone revolution

CNNMoney (Hong Kong) April 15, 2015: 1:20 AM ET

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Nokia is buying Alcatel-Lucent for $16.6 billion

The all-stock deal values the French firm at €15.6 billion ($16.6 billion). The combined company will be called Nokia Corporation, with headquarters in Finland.

Alcatel (ALALF) shareholders will be paid 0.55 Nokia (NOK) shares per Alcatel share, a 28% premium over the company's three-month weighted stock price.

Both firms provide equipment, infrastructure and support to the telecommunications industry. Alcatel shareholders will own 33.5% of the combined company.

The marriage between Nokia and Alcatel should give the combined company more clout when competing with rivals like Sweden's Ericsson (ERIC) and China's Huawei.

Related: Shell inks $70 billion deal as Big Oil gets even bigger

Nokia, which sold its handset unit to Microsoft last year, has a market capitalization of about €27.7 billion ($29.5 billion). Alcatel is less than half the size, with a market value around €12.6 billion ($13.4 billion).

Nokia was once a giant in the mobile phone industry but was clobbered by Apple (AAPL, Tech30) and Samsung (SSNLF). Nokia shares hit a peak in 2007 and then tanked.

Since selling its mobile phone business to Microsoft, the company has refocused on its telecommunications and broadband offerings.

CNNMoney (Hong Kong) April 15, 2015: 2:45 AM ET

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Guess where the hottest housing markets are?

Homes in San Francisco are selling fast: 26% are still for sale after 60 days.

Of the top 10 fastest-moving housing markets, 8 are located in California, with San Francisco, San Jose and Oakland taking the top three spots, according to a report from Trulia. At least 70% of homes in these three areas sold in two months or less.

"California has seen very strong job growth, especially in coastal markets," said Ralph McLaughlin, housing economist at Trulia. Lack of supply in these markets also plays a factor. "The amount of new housing that gets built is relatively small compared to other parts of the country."

San Francisco, which had a median asking price of $1,099,000 in April, topped the list and has particularly low new construction levels thanks to its topography and building regulations, according to McLaughlin. "The process of adding new supply is more difficult here ... for natural and legal reasons."

Related: It's getting harder to afford a home

The report tracked home sales listed on Trulia in the 100 biggest metro areas in the U.S. on Feb. 5 and were still available on April 5. In addition to the 8 cities in California, Seattle and Salt Lake City, Utah, also made the top 10 list.

Farther south in the Golden State, homes in San Diego are also selling at a rapid pace with 33% of homes listed in February still available 60 days later, down from 44% the year prior.

On a national level, 40% of homes moved off the market in the two-month period, a slight increase from 38% during the same time period in 2014, the report showed. On average, lower-priced homes in the fast-moving markets sold the quickest, with half still on the market after two months.

This means buyers, especially first-timers, need to go into their house hunt prepared, advised McLaughlin.

"Not only is it more difficult to buy where homes are moving fastest, the homes first-timers would buy are moving faster compared to middle and higher-priced homes. It's a double whammy."

Tool: What will your mortgage payment be?

Overall, housing markets that have experienced strong price gains in the last year have also moved the fastest, McLaughlin added.

Sellers remain in control in many Florida markets as well, with 47% of homes in the Cape Coral-Fort Myers area still for sale after 60 days. Last year, 64% of homes were still on the market in this area during the same time period. West Palm Beach, Fort Lauderdale and Orlando also saw homes selling faster than in 2014.

However, in Miami, buyers might have more of an upper hand with 65% of homes still sitting on the market after two months, compared to 56% last year. "Miami has had a huge condo boom ... the end of last year and the start of this year was about the time the condos came to the market," McLaughlin said. "Compounding that, over the last year-and-a-half, affordability in Miami has dropped."

Home buyers in Long Island and Albany, New York, can also breathe a little easier in their search, as 69% and 71% of homes, respectively, were still on the market after two months.

10 fastest-moving housing markets

Rank	Metro	Homes still for sale after 2 months April 2015	Homes still for sale after 2 months April 2014
1	San Francisco, CA	26%	28%
2	San Jose, CA	30%	31%
3	Oakland, CA	30%	31%
4	San Diego, CA	33%	44%
5	Orange County, CA	41%	45%
6	Seattle, WA	42%	45%
7	Sacramento, CA	42%	45%
8	Los Angeles, CA	43%	45%
9	Ventura County, CA	43%	50%
10	Salt Lake City, UT	45%	51%

Source: Trulia

CNNMoney (New York) April 15, 2015: 3:00 AM ET

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Wall Street is a miserable place to work

That's how most workers describe life on Wall Street these days, according to a survey of about 100 financial professionals by Options Group, a New York executive search firm.

Survey participants were asked about their satisfaction with their job, their firm, their pay and their prospects.

An alarming 50% of the them said they were unhappy in all four areas, Options Group said.

"In a lot of cases keeping your job is your bonus," said one anonymous U.S.-based trader who works at a European bank.

The negative sentiment among financial professionals gives a glimpse into life on Wall Street and in finance more broadly after the 2008 financial meltdown.

Banks have been forced by shareholders and regulators to rein in risk and adhere to new compliance standards.

"It's become a very challenging environment. Instead of concentrating on generating alpha, you have to concentrate on rules and regulation," said Mike Karp, CEO of Options Group.

Related: Jamie Dimon: New crisis coming, regulations will make it worse

Intense politics: Financial firms should be alarmed by the survey, which covered mostly senior employees located in the U.S. and Canada. The negative results aren't a one-time blip. Options Group conducts the survey twice a year and said it hasn't noticed a meaningful change over the past three years.

"Politics-driven big banks are destroying their talent pools and driving out precisely the kinds of people they need," said one U.K.-based investment banker who works for a U.S. firm.

"In an environment where pay and bonus pools are stagnant, brute politics and internal credit-stealing are ascendant," the investment banker said.

Related: 3 things Wall Street doesn't want you to know

Talent wars: Disillusioned by life in finance, some talented employees may opt to take their talents to sunny Silicon Valley. Fast-growing technology companies like Google (GOOGL, Tech30) offer large paychecks, fewer regulations in some regards and the perceived ability to change the world for the better.

Wall Street is fighting back the best way it knows how: with money. Last summer, several Wall Street firms raised the salaries of some junior-level employees by around 20% in an effort to compete for talent that is increasingly attracted to Silicon Valley.

"Most guys want to go and live in California and work for these tech companies. People are always being recruited by Google and Facebook (FB, Tech30)," Karp said.

Related: Talent wars: Silicon Valley vs Wall Street

Bonuses not back at pre-crisis levels: Bankers' bonuses have rebounded since the financial crisis but remain shy of the record-level payouts.

The average Wall Street bonus last year was nearly $173,000 -- roughly $20,000 below the average in 2006.

Of course, few people feel sorry for the bankers. The bonuses enjoyed by financial professionals these days are over three times the median U.S. household income.

Related: 78 cents on the dollar: The facts about the gender wage gap

Bullying? But is the pay worth it? Bank of America (BAC), JP Morgan (JPM) and Deutsche Bank (DB) have been among the firms forced to confront stress, anxiety and depression facing their staff after banker suicides and premature deaths made headlines.

The financial sector has seen a flood of investigations, lawsuits and new regulations, piling the pressure on workers as their employers demand a return to the massive profits of the past.

That pressure may have even manifested itself in the form of bullying, at least according to one trader at a New York hedge fund.

"There are some very bad people who think nothing of bullying and then taking advantage of employees," the trader said in the Options Group survey. "Be very careful."

Related: Good news: More workers are quitting

CNNMoney (New York) April 14, 2015: 5:36 AM ET

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Stocks: 4 things to know before the open

Click chart for in-depth premarket data.

Here are the four things you need to know before the opening bell rings in New York:

1. Earnings: JPMorgan Chase (JPM), Wells Fargo (WFC), and Johnson & Johnson (JNJ) are all reporting quarterly results ahead of the open.

Wall Street will be keeping a close eye on JPMorgan CEO Jamie Dimon as he comments on his bank's latest earnings during a morning conference call.

Last time around, Dimon said the bank was "under assault" by regulators.

Meanwhile, Intel (INTC, Tech30) will report after the close.

2. More M&A?: Nokia (NOK) confirmed Tuesday it is in "advanced discussions" to buy Alcatel-Lucent (ALU). Both firms provide equipment, infrastructure and support to the telecommunications industry.

Shares in Nokia were declining by 7% in Europe, while shares in Alcatel-Lucent were surging by about 12%.

Related: CNNMoney's Tech30

3. Stock market overview: U.S. stock futures are looking steady ahead of the open. European markets are mixed in early trading.

Asian markets ended the day with mixed results. In Hong Kong, the main index closed with a loss of 1.6% Tuesday after staging an awe-inspiring rally over the last few days. The Hang Seng has risen by about 17% since the start of the year.

Recapping Monday's performance, both the Dow Jones industrial average and S&P 500 fell back by 0.5%. The Nasdaq slid 0.2%.

Related: Fear & Greed Index

4. Economics: The International Monetary Fund is launching its influential "World Economic Outlook" report at 9 a.m. ET. The IMF uses this biannual report to forecast economic trends around the globe.

In the U.S., the Census Bureau is reporting March retail sales data at 8:30 a.m. ET.

CNNMoney (London) April 14, 2015: 4:50 AM ET

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Nokia closing in on deal to buy Alcatel-Lucent

Nokia has been struck with M&A fever. It's trying to buy smaller rival Alcatel-Lucent.

Finnish telecommunications firm Nokia is trying to buy French competitor Alcatel-Lucent.

The companies confirmed Tuesday that they are in "advanced discussions" about a takeover, but still warned any potential deal could fall through.

Both firms provide equipment, infrastructure and support to the telecommunications industry.

A marriage between Nokia (NOK) and Alcatel-Lucent (ALU) would give the combined company more clout when competing with bigger rivals like Sweden's Ericsson (ERIC) and China's Huawei Technologies.

Related: Shell inks $70 billion deal as Big Oil gets even bigger

Nokia, which sold its handset unit to Microsoft (MSFT, Tech30) last year, has a market capitalization of about €26.7 billion ($28 billion). Alcatel-Lucent is less than half the size, with a market value around €12.2 billion ($13 billion).

Traders responded to the announcement by selling shares in Nokia and buying Alcatel-Lucent.

Nokia's stock fell by 7% in Europe, while Alcatel-Lucent shares were surging by about 12%.

Nokia was once a giant in the mobile phone industry but was clobbered by Apple (AAPL, Tech30) and Samsung (SSNLF). Nokia shares hit a peak in 2007 and then tanked.

Since selling its mobile phone business to Microsoft, the company has refocused on its telecommunications and broadband offerings.

CNNMoney (London) April 14, 2015: 6:01 AM ET

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Will.i.am is selling sheets made from old Coke bottles

Will.i.am is partnering with Coke and W Hotels on a line of bed sheets partially made from old plastic bottles.

It's not that he's fallen on hard times in the music biz, it's more that he's into recycling. So the Black Eyed Peas frontman has partnered with Coke (KO) and W Hotels on a line of bedding made with at least 30% recycled plastic.

The sheets will soon be on all W hotel beds worldwide. They don't look or feel any different than the hotel's current sheets -- the plastic is used to make polyester and simply replaces the virgin polyester currently used in the blended fabric. Each king-sized sheet will contain about 31 plastic bottles.

For W, the move was about being more eco-friendly as well as saving money. The new sheets are more durable and can be washed up to 200 times before wearing out (compared to about 100 washes now).

Related: L.A. to control its street lights with a single laptop

The sheets will also be available for purchase at the W's store, though they aren't cheap -- a set starts at $207.

They'll carry both the W and Ekocycle brand. Ekocycle is a broader partnership between Will.i.am and Coke to use recycled content in more products.

Will.i.am said he got the idea for Ekocycle back in 2008 after attending conferences on corporate social responsibility and hearing about how firms want to cut waste.

"A lot of times the companies say what they want to do, but not how they're going to do it," he said. "Or they do it, but they don't tell anyone."

Related: The activist nun reforming for-profit prisons

So he pitched Coke with an idea to market recycled plastic to other firms that wanted to green their products. Coke bit, and Ekocycle launched in 2012. It now has its name on over 150 products including shoes, luggage, bicycles and chairs. Companies that want to use the Ekocycle brand pay a royalty, which is shared between Coke and Will.i.am.

"Our resources are not forever," Will.i.am said. "Sustainability is going to be something we're all talking about."

If all this sounds like a bunch of people making money while burnishing their green credentials, it is. But it's also important for those with branding experience to create a market for recycled material. This is especially true now that the cost of oil -- which is virgin plastic's main ingredient -- is so low. Cheap virgin plastic puts recycled plastic at a disadvantage.

"Recycling is more than just putting stuff in the right bin," said Darby Hoover, a resource specialist at the Natural Resources Defense Council. "And it's good that Coke is taking responsibility for its bottles."

CNNMoney (New York) April 13, 2015: 6:25 PM ET

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Hillary channels Elizabeth Warren in campaign bid

In her video campaign announcement Sunday, Hillary Clinton unveiled what's expected to be the central theme of her presidential bid: Serving as a champion for "Everyday Americans."

"Americans have fought their way back from tough economic times, but the deck is still stacked in favor of those at the top," she said in the short video. "Everyday Americans need a champion and I want to be that champion. So you can do more than just get by. You can get ahead and stay ahead."

Long considered a centrist, Clinton sounded strikingly similar to Warren, the outspoken darling of the left wing, which has been pushing the Massachusetts senator to run for the 2016 nomination. (So far, she has declined.) Warren's main talking point: Give every American a fighting chance.

"America's middle class is under attack. It's in trouble because the game is deliberately rigged," Warren wrote in her memoir, A Fighting Chance. "I am determined -- fiercely determined -- to do everything I can to help us once again be the America that creates opportunities for anyone who works hard and plays by the rules."

Related: Elizabeth Warren: 8 ways to restore the middle class

Warren's proposals to boost middle class prosperity include: Raising the minimum wage, supporting bargaining rights for workers, ensuring workers get overtime pay and creating good paying jobs through investments in roads, bridges, power grids, education and research, among other things.

In an election where every candidate is focused on the middle class, Clinton may have to shift left to appeal to the Democratic base. She and her advisers have been speaking to income inequality and economic mobility gurus, including Joseph Stiglitz of Columbia University and Raj Chetty of Harvard, according to media reports.

Stiglitz, a Nobel-prize winning economist, has argued that income inequality has exploded over the past 30 years. The widening gap endangers economic growth and makes it harder for people to achieve the American Dream.

Related: Stiglitz on how to fix the income gap

Chetty, on the other hand, focuses on economic mobility. His work has found that residents in communities with higher rates of segregation and income inequality, as well as fewer two-parent families, are less likely to climb the economic ladder.

Clinton's new top talking point is increasing opportunity for all Americans. She reiterated this in a new epilogue to the paperback versions of her book, Hard Choices, excerpted on Huffington Post on Friday. In it, she noted the advantages that her first grandchild, Charlotte, will have.

"Too few of the children born in the United States and around the world today will grow up with the same opportunities as Charlotte," she wrote. "I'm more convinced than ever that our future in the 21st century depends on our ability to ensure that a child born in the hills of Appalachia or the Mississippi Delta or the Rio Grande Valley grows up with the same shot at success that Charlotte will."

But some diehard liberal Democrats, including Warren, want to hear more on how Clinton plans to reduce inequality. So far, they say Clinton's message is long on rhetoric and short on specific policies.

A Clinton spokesman did not respond to a request for comment.

Related: NYC's Bill de Blasio not ready to endorse Hillary Clinton yet

New York City Mayor Bill de Blasio, who managed Clinton's Senate campaign in 2000, made waves when he said Sunday that he is holding off on endorsing Clinton until he learns more about her vision.

Warren, meanwhile, is also waiting for more details.

Asked in February by the Reverend Al Sharpton on MSNBC whether Clinton would be a "progressive warrior," Warren said "that's what we've got to see."

"I want to hear what she wants to run on and what she says she wants to do," Warren said.

Related: Republican? Or Elizabeth Warren? Who said it?

CNNMoney (New York) April 13, 2015: 6:18 PM ET

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This Indian city has the world's worst air

In 2014, the World Health Organization measured air quality levels in 1,600 cities around the world, and the Indian capital city of New Delhi was found to have the highest concentration of particulate matter smaller than 2.5 micrometers, also called PM2.5.

The city's average PM2.5 level was a whopping 153, compared to 14 in New York and 56 in Beijing. The WHO's safety threshold for humans is 10. PM2.5 particles are not visible, but they go deep into the lungs, and are more likely to cause chronic health problems.

"Delhi is a very green city," said Kamal Meattle, a Delhi-based air pollution activist. "But even the greenest areas of Delhi have extreme pollution levels."

Meattle's TED talk on the topic has garnered more than 2 million views, but he complains that Delhi is still in denial mode.

"Although Delhiites have stopped drinking tap water, my question is: You drink about 2-3 liters of water per day but breathe 2,000 liters of air per day -- [when] you are concerned about the water, but you are not concerned about the air, there is a mismatch," Meattle said.

Related: India to surpass China in economic growth

According to analysts, the large number of old vehicles on roads, burning of bio-mass, industry emissions and coal-powered power stations are mainly to blame for Delhi's pollution levels. There are roughly 8.5 million registered vehicles in the city, and 1,400 cars are being added to the streets each day.

Barun Aggarwal of BreatheEasy, a Delhi-based air-filtration company, said that increased awareness has boosted sales.

"First two years of business, we had very few sales," Aggarwal said. "Lately, we are struggling to meet people's needs."

Aggarwal said that many in the expatriate community have gotten the message, and are stocking up on air purifiers. But attitudes among Indians have been slower to change, despite a sharp rise in media coverage.

"The majority of Indians will still say: 'I want to make my children strong. I don't want to make them 'delicate darlings' by giving them air purifier and clean air for a few hours,' " he said.

Meattle, the activist, said the government needs to be more responsive.

"I think the first people to be convinced are the politicians, the bureaucrats and the judges ... people who really matter in the sense that they understand the problem is going to create a major health issue and major costs," he said.

Prime Minister Narendra Modi recently launched a national Air Quality Index, or AQI, which will monitor pollution levels in major urban cities on a real-time basis. Data are currently available in 10 cities including Delhi.

Last week, the National Green Tribunal, a government agency that deals with environmental disputes, attempted to ban diesel-powered vehicles older than 10 years from Delhi's streets.

Beyond Delhi, the news doesn't get better for the South Asian powerhouse: 13 out of the world's 20 most polluted cities are in India, and the WHO says outdoor air pollution is the country's fifth biggest killer.

Related: India's growth numbers are a total mystery

Related: 10 most polluted U.S. cities

CNNMoney (New Delhi) April 14, 2015: 2:54 AM ET

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Stocks: 4 things to know before the open

Click chart for in-depth premarket data.

Let's get started.

Here are the four things you need to know before the opening bell rings in New York:

1. Stock market movers -- Qualcomm, Volkswagen: Shares in Qualcomm (QCOM, Tech30) are rising by about 2.5% premarket as investors get excited about the idea that the company could break itself up. The Wall Street Journal reports that activist investor Jana Partners has been pushing for a strategic overhaul to boost the company's share price. Shares in the semiconductor company have slumped by about 7% since the start of the year.

In Germany, shares in Volkswagen (VLKAY) are dipping by about 1.5% after weekend reports of a power struggle between the company's chairman and CEO.

Related: Fear & Greed Index

2. Market overview: U.S. stock futures are inching lower, European markets are mixed in early trading, while most Asian markets ended the day with gains.

Stock markets in China and Hong Kong posted impressive rallies, with the Hang Seng index surging by nearly 3%.

Over the previous week, all the major U.S. indexes notched gains. On Friday, the Dow Jones industrial average added 99 points, the S&P 500 rose by 0.5% and the Nasdaq edged up by 0.4%.

Related: CNNMoney's Tech30

3. Keep an eye on oil: Crude futures are pushing higher Monday, up by about 1.5% to trade around $52 per barrel.

Oil prices have been volatile over the past week as traders consider how much excess supply could come onto the market if world powers drop their sanctions on Iran.

4. Economics: The Treasury Department will release its monthly budget update at 2 p.m. ET.

CNNMoney (London) April 13, 2015: 5:36 AM ET

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China is poised to report worst growth since the financial crisis

Gross domestic product is forecast to have expanded by 7.0% in the first quarter of 2015, compared to the same period last year, according to the survey's median estimate.

That's quite a drop from the final quarter of 2014, when economic growth came in at 7.3%. Looking ahead, economists expect to see 6.8% annual GDP growth for this year, and even slower expansion at 6.5% in 2016.

The strength of China's economy is often difficult to judge at the beginning of the year because of the Lunar New Year holiday. But many recent data points have been so disappointing that experts are bracing for the worst.

Although survey estimates remain in line with the government's target of 7%, economists expect Beijing to take stimulus action if the economy slows much further, according to the survey. One of the biggest risks facing the Chinese economy continues to be a waning property sector.

"While we do not expect a dramatic slowdown, we think downward pressures on growth stemming from the weakness in real estate will remain in the coming months," wrote Louis Kuijs of RBS in a research note. "Against this backdrop, we think more macroeconomic easing steps will follow in the coming months to ensure that GDP growth will not fall too much below the target of 7% in 2015."

So far this year, the government has already tried to shore up the real estate sector, putting in place measures to boost property sales and battle slowing construction. But UBS economists Harrison Hsu and Wang Tao said the measures won't be enough to reverse the overall slowdown.

Related: China's factories slump amid growth concerns

Other risks continue to loom, including capital outflow and massive local government debt.

Overall, analysts expect Beijing to consider interest rate cuts, a lower reserve requirement ratio, and further monetary easing to support the economy.

GDP growth in China remains the most comprehensive gauge of the country's economic health -- an important number to watch as the government tries to steer the country towards consumption-driven growth.

China averaged economic expansion of around 10% a year over the past three decades, making it the world's second-largest economy and boosting household wealth. But now, the pace of growth is languishing -- China recorded GDP growth of 7.4% last year, the worst in 24 years, a significant slowdown from double-digit growth in 2010.

The National Bureau of Statistics will announce first quarter GDP numbers on April 15.

Related: The world's hottest stock market is in China

CNNMoney (Hong Kong) April 12, 2015: 10:01 PM ET

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Sprint now makes house calls to upgrade your cell phone

Sprint makes house call for customer upgrading to a new cell phone.

The new program, called Direct 2 You, launched in Kansas City, Missouri, Monday.

Sprint (S) plans to provide the service in the 30 largest U.S. cities by the end of September, starting with Miami and Chicago next.

Here's how it works: Instead of going to a Sprint store or ordering a new phone online, eligible customers who live in these cities can request a Sprint service rep to come to their home, office, or favorite coffee shop to swap out their old phones for new ones.

The on-call assistants will show up in a Fiat 500, wrapped in Sprint signage, and set up the new phone. This includes transferring files from a previous handset, and resetting old phones so they can be reused by other family members. Customers can also trade-in their cell phones through a buyback program.

The upgrade experts will also bring their own wireless router so there's no need to connect to a personal Wi-Fi system, according to Rod Millar, VP of Reverse Supply Chain at Sprint. Some customers may also receive a signal booster free of charge if Sprint assesses in-home service is not up to par.

If for some reason customers change their mind, Sprint's on-demand professionals will also have other cell phones on hand. But Millar says, during their testing among 100 people, this situation didn't really come up. "Most customers know what they want," he said.

All this sounds great, except the process seems painfully similar to the way cable companies operate. Millar says that the concern is understandable, but won't be an issue with Direct 2 You.

"Customers sign up for specific times, not windows of time," he said. In addition, the company has hired "very trained, very experienced professionals who enjoy making customers happy."

Direct 2 You is designed to appeal to people who want control and convenience. On-demand delivery apps like Wunwun, GlamSquad, Alfred, and Postmate are all the rage right now, and larger companies like Sprint are trying to match that service model.

Read: Google is becoming a wireless carrier

Read: T-Mobile will pay $650 for you to switch

CNNMoney (New York) April 13, 2015: 6:22 AM ET

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The 'Hillary beat': Who's covering Clinton

The New York Times was particularly early out of the gate. The paper shifted reporter Amy Chozick to its politics team to cover Clinton in the summer of 2013 -- 649 days before Clinton's announcement on Sunday.

By the end of that year, BuzzFeed put reporter Ruby Cramer on the "Hillary beat." CNN promoted White House correspondent Brianna Keilar to serve as its lead Clinton reporter in early 2014. And last spring, the Washington Post assigned the same role to reporter Anne Gearan, who had covered Clinton during her time as secretary of state.

Chozick, who covered Clinton's failed 2008 presidential bid for the Wall Street Journal, told CNNMoney that she has relished her time on the beat ahead of the campaign launch.

Related: Gloria Borger analysis - What is Hillary Clinton thinking?

"I've loved the past 18 months or so when I've mostly written enterprise stories, observed Clinton at low-key events in New York and elsewhere and had the time to study up and get to know the people who will be characters in the narrative that will begin to take shape after Sunday's announcement," Chozick said.

Chozick said she's been to Arkansas, where former President Bill Clinton served as governor for 12 years, at least six times. She said she has read every "credible" book on the Clintons.

"That time was critical because as soon as the daily grind of a presidential campaign starts it's hard to find time to sleep, much less thoroughly study your subject," Chozick said.

The early coverage speaks to Clinton's stature. Unlike other presidential aspirants, the former secretary of state is already a household name and one of the most recognizable people in the world.

Related: Hillary Clinton's economic plans need overhaul

News outlets have devoted far more resources to Clinton than potential general election foes like Jeb Bush or Scott Walker. That has only tightened the competition to break news on Clinton.

Earlier this year, the New York Times poached former Politico writer Maggie Haberman, widely considered to be the best-sourced reporter in Clinton's orbit, to supplement the newspaper's coverage of the Democratic frontrunner.

The Clinton-focused scribes will also face competition from veteran reporters like Glenn Thrush of Politico and Julie Pace of the Associated Press. On Saturday, Pace nabbed a scoop on the Clinton campaign's economic message.

The assignment is a potential career-maker. Campaign reporters have often followed candidates to the White House. Pace covered President Obama's 2008 campaign and continued to report on him throughout his first term. In 2013, the AP promoted her to White House correspondent.

Covering a candidate before she's officially a candidate posed certain difficulties to the reporters.

"It's been challenging and frustrating to know that there was a campaign forming and a message being crafted and people being hired, and really only being able to see and write about a small portion of it," said Gearan, the Washington Post reporter.

Gearan said she has spent much of the last year cultivating sources in Iowa. "I'm certainly ready to get on with it," she added.

Clinton has given regularly scheduled speeches since last summer, and the recent controversy surrounding her use of a private email account at the State Department generated plenty of media attention. But many of the stories on Clinton's assumed presidential ambitions have been previews of her campaign.

"There's been a lot of stage-setting," Politico's Annie Karni said. "One story everybody is writing is what will Bill Clinton's role be. That's an important factor in the race and a big question to answer, but while we're in campaign-in-waiting mode, it is a stage-setting story."

Karni, who left the New York Daily News in March to cover Clinton for Politico, noted a tangible campaign development earlier this month.

Along with her colleague Gabriel Debenedetti, Karni reported that Clinton's team had signed a lease in Brooklyn for a campaign headquarters.

"If you think about it, signing a lease is a small thing," Karni said. "But it was something concrete to show us that it was coming and it took on new significance because there was nothing else official going on."

More news has trickled out since then. On Thursday, a group of reporters gathered at the Washington, D.C. home of Clinton campaign chairman John Podesta for an off-the-record dinner. Clinton's team hosted a similar gathering on Friday night in New York.

The dinners could be seen as an effort by Clinton to improve her complicated relationship with the press. At an awards ceremony last month, Clinton said, at least partly in jest, that she was interested in forging a "new relationship with the press."

"So here it goes. No more secrecy. No more zones of privacy. But first of all, before I go any further. If you look under your chairs, you'll find a simple nondisclosure agreement," she joked.

For reporters on the "Hillary beat," the outreach hasn't gone unnoticed.

"I'd say that everyone is trying to start off on the right foot, just being friendly as human beings and acknowledging that this is our job," Karni said. "There's an effort to start off on a collegial note and to get along."

CNNMoney (New York) April 12, 2015: 8:39 PM ET

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Donald Trump: I don't want T-Mobile in my hotels

The Donald and the CEO of T-Mobile (TMUS) became embroiled in an epic Twitter battle this weekend, in which Trump said he wanted T-Mobile out of his establishments.

"T-Mobile service is terrible! Why can't you do something to improve it for your customers. I don't want it in my buildings," Trump tweeted Saturday at John Legere, T-Mobile's chief executive and no Twitter slouch himself.

The candid and brash Legere, who frequently drops F-bombs and once crashed (and was thrown out of) an AT&T (T, Tech30) party, fired back at Trump.

"I will serve all customers in the USA openly but I will obviously leave your hotel right away based on this. #checkingout," Legere tweeted.

Oh, if it only stopped there. The Donald, as he typically does, claimed victory.

"T Mobile service sucks and it took a Trump to call him out! @realDonaldTrump for President!"

But Legere didn't give up, firing off a tweetstorm that continued into Sunday morning. Legere, by far, delivered the lowest blows of the Twitter war.

"checked out.. Now I don't have to watch tv with the 1st 9 channels being the Trump family saying how wonderful they are:)"

Legere later added, "I am so happy to wake up in a hotel where every single item isn't labeled 'Trump' and all the books and TV is about him"

Trump also continued tweeting about T-Mobile into Sunday. In case you're wondering which carrier Trump uses, he said he believed Verizon was the best provider, tweeting Verizon's famous coverage map.

Related: This is the fastest cell phone network ever

Related: T-Mobile will pay $650 for you to switch

CNNMoney (New York) April 12, 2015: 12:54 PM ET

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China is poised to report worst growth since the financial crisis

Gross domestic product is forecast to have expanded by 7.0% in the first quarter of 2015, compared to the same period last year, according to the survey's median estimate.

That's quite a drop from the final quarter of 2014, when economic growth came in at 7.3%. Looking ahead, economists expect to see 6.8% annual GDP growth for this year, and even slower expansion at 6.5% in 2016.

The strength of China's economy is often difficult to judge at the beginning of the year because of the Lunar New Year holiday. But many recent data points have been so disappointing that experts are bracing for the worst.

Although survey estimates remain in line with the government's target of 7%, economists expect Beijing to take stimulus action if the economy slows much further, according to the survey. One of the biggest risks facing the Chinese economy continues to be a waning property sector.

"While we do not expect a dramatic slowdown, we think downward pressures on growth stemming from the weakness in real estate will remain in the coming months," wrote Louis Kuijs of RBS in a research note. "Against this backdrop, we think more macroeconomic easing steps will follow in the coming months to ensure that GDP growth will not fall too much below the target of 7% in 2015."

So far this year, the government has already tried to shore up the real estate sector, putting in place measures to boost property sales and battle slowing construction. But UBS economists Harrison Hsu and Wang Tao said the measures won't be enough to reverse the overall slowdown.

Related: China's factories slump amid growth concerns

Other risks continue to loom, including capital outflow and massive local government debt.

Overall, analysts expect Beijing to consider interest rate cuts, a lower reserve requirement ratio, and further monetary easing to support the economy.

GDP growth in China remains the most comprehensive gauge of the country's economic health -- an important number to watch as the government tries to steer the country towards consumption-driven growth.

China averaged economic expansion of around 10% a year over the past three decades, making it the world's second-largest economy and boosting household wealth. But now, the pace of growth is languishing -- China recorded GDP growth of 7.4% last year, the worst in 24 years, a significant slowdown from double-digit growth in 2010.

The National Bureau of Statistics will announce first quarter GDP numbers on April 15.

Related: The world's hottest stock market is in China

CNNMoney (Hong Kong) April 12, 2015: 10:01 PM ET

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The Obamas paid $93,362 in federal income taxes

President Obama and First Lady Michelle Obama reported about the same amount of income in 2014 as they did in 2013.

President Obama and First Lady Michelle Obama reported $495,964 in gross income last year, according to their 2014 tax returns released by the White House on Friday afternoon.

The president's salary accounted for nearly $395,000 of that, while their net business income came to $88,181 from Random House and literary management company Dystel & Goderich. They also earned about $16,000 in taxable interest.

After accounting for $17,400 in tax-deferred retirement savings and a $1,181 deduction for the self-employment payroll taxes they paid, their adjusted gross income came to $477,383, just a little less than they earned the year before.

Related: Top 400 taxpayers' average income jumps to $336 million

So how much of all that went to Uncle Sam? The Obamas' federal income tax bite came to $93,362, or 19.6% of their AGI.

A piece of that tax burden -- $2,035 -- was attributable to the Medicare surtax on high earners that was created to help fund Obamacare.

The Obamas donated $70,712, or about 15% of their AGI, to more than 30 charities.

They also paid $22,640 in income taxes to their home state of Illinois.

CNNMoney (New York) April 10, 2015: 6:33 PM ET

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Hillary Clinton's economic plans need an overhaul

Clinton is expected to begin her presidential campaign this weekend, yet she's stayed mum on the economy -- something she hammered on during the 2008 campaign.

"She's a blank check at this point," says Dean Baker, co-director for the Center for Economic and Policy Research. "She'll be pressed to take positions."

America's economy has come a long way from 2008. Back then, the country was headed toward a recession. The unemployment rate was climbing -- eventually on its way to 10% -- while America's housing market was collapsing. The divide between Wall Street and Main Street was just beginning to widen, some argue.

Now, unemployment is down to 5.5% -- not far from its target level. Last year was America's best year of job growth since 1999. However, some big issues remain. Inequality is worsening and most people's wages have barely grown.

How Hillary approaches inequality, as well as her relationships with Wall Street and Main Street, will be key to her success in this campaign.

Here's how Hillary may shift her approach for 2016:

Related: 'Hillary' websites going for up to $295k

1. How will she tackle Inequality?

Then: Clinton heavily criticized President George W. Bush for his handling of the economy in 2008. She zeroed in on jobs losses, rising inequality and no wage growth.

While the economy hadn't fallen off a cliff yet -- unemployment was 5.6% when she lost the primary race -- her inequality rhetoric resonated with many Americans.

A Republican president ineligible for another election presented an easy punching bag for Clinton on inequality.

"President Bush had one final chance tonight to acknowledge what the American people have known for years: that the economy is not working for middle class families," Clinton said of Bush's State of the Union address in January 2008.

Now: Those problems haven't changed much under President Obama, but Clinton is unlikely to throw the same darts at her former boss.

Inequality is arguably worse now, and wage growth remains the economy's sore spot. In 2008, median weekly wages were $796 -- the exact same amount at the end of 2014, adjusted for inflation, according to the Labor Department.

Clinton must carefully calculate an inequality message without distancing herself from Obama's economic achievements, experts say.

"It s a very different world" from 2008, says Gary Burtless, an economist at the Brookings Institution. "There's more anger out there about the economy and inequality. She'll modify the rhetoric she uses."

Related: The tough task of going through Hillary's emails

2. Too cozy with Wall Street?

Then: The stock market boomed during Bill Clinton's time in office. Hillary liked to remind Wall Street of that in 2008. The tech boom, free trade agreements and bull market were all hallmarks of President Clinton's economy.

Bill had cemented a relationship with Wall Street that Hillary benefited from in 2008, says Larry Sabato, a politics professor at the University of Virginia.

"She was the candidate of Wall Street" in 2008, says Sabato.

Now: Wall Street is still expected to doll out millions to Hillary's campaign, but she must tip-toe more carefully around that support, experts say. The recession generated a scathing image of the bankers who helped finance Hillary's run in '08.

Most recently, democratic senator Elizabeth Warren is hammering big banks for more reforms and could press Hillary and others to take stance as well.

Hillary will have to find the balance between appealing to the Warren democrats that want greater financial change and Clinton's loyal Wall Street donor base, experts say.

"She'll want the populist rhetoric but also the money," says Sabato. With the Clintons, "the money comes first and it may be completely separate from the rhetoric."

Related: He serves BBQ to Bill & Hillary Clinton

3. Can she connect with Main Street?

Then: Clinton ridiculed President Bush in 2008, telling USA Today that the "moneyed class" had reaped all the benefits of his economy.

As a New York senator -- and former First Lady -- she championed middle class jobs, minimum wage laws and pushed for health care reform.

Several years later, Clinton's relationship with the moneyed class is much more public and perhaps political dynamite for her economic policies during this campaign.

Now: Average Americans are still struggling. Inequality is a much bigger issue than it was eight years ago, propelling Thomas Piketty's 700-page book "Capital in the 21st Century" to bestseller status last year.

Experts say Clinton's problem will be connecting with typical Americans. Since leaving the State Department, Hillary has made a fortune on speeches and her book, on top of Bill's well-known wealth.

Knowing this perception, Clinton plans to hold small campaign events this week geared at giving face time to average folks. How Clinton tries to relate to Americans on hot topics like inequality, middle class jobs and the federal minimum wage could be key early on.

Clinton has already tried once to convince Americans she had it hard. One political slip-up came when she wrote in her book, "Hard Choices" that she and Bill were "dead broke" when they left the White House in 2001. The comment was widely viewed as out-of-touch with Main Street realities.

"It was just bizarre," says Baker. The Clinton's wealth "is not anyone's idea of flat broke."

Related: 'President' Hillary Clinton: Good for stocks?

CNNMoney (New York) April 11, 2015: 9:05 AM ET

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HBO still hasn't heard from Scientology lawyers for 'Going Clear'

"Facts are stubborn things," HBO CEO Richard Plepler said in an interview with CNNMoney this week.

"Everybody's entitled to their own opinion, but they're not entitled to their own facts," he added. "I think the documentary bears up very well to any kind of scrutiny."

Sheila Nevins, the president of HBO's documentary division, had a similar comment -- "facts are facts" -- when asked about the film at a party on Wednesday held by The Hollywood Reporter.

The March 29 premiere of "Going Clear" scored the highest overnight viewership for an HBO documentary in nine years. Nevins and Plepler pointed out that the documentary is still reaching new viewers every day thanks to repeats and HBO's various on-demand services.

John Travolta isn't interested in watching HBO's Scientology documentary 'Going Clear.'

"Going Clear" was back in the news this week when John Travolta, a member of the church, said he was uninterested in seeing it.

The documentary, by well-known filmmaker Alex Gibney, is based on the book of the same name by Lawrence Wright.

In an interview before the premiere, Gibney said he was well aware of the possibility that Scientology might try to strike back with lawsuits.

But, he said, "we were very rigorous in terms of how we checked our story, how we had it scrutinized extensively by lawyers -- not only my own lawyers but by HBO's lawyers," Gibney said.

Nevins once commented that there were "probably 160 lawyers" involved, but she meant that hyperbolically.

HBO's other recent documentary success was "The Jinx," a six-part series about the troubled multi-millionaire Robert Durst, a suspect in several murders.

There have been questions about the extent of filmmaker Andrew Jarecki's communication with law enforcement, particularly due to the recording of Durst apparently saying to himself he "killed them all."

"I can tell you unequivocally we did not withhold any evidence," Plepler said, calling Jarecki "very scrupulous."

"I think what's important to remember is that a 30-year -- 30-year -- murder mystery was essentially opened up" by Jarecki and his colleagues, Plepler added.

HBO and the parent of this web site, CNN, are both owned by Time Warner.

CNNMoney (New York) April 10, 2015: 6:34 PM ET

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Hillary Clinton's economic plans need an overhaul

Clinton is expected to begin her presidential campaign this weekend, yet she's stayed mum on the economy -- something she hammered on during the 2008 campaign.

"She's a blank check at this point," says Dean Baker, co-director for the Center for Economic and Policy Research. "She'll be pressed to take positions."

America's economy has come a long way from 2008. Back then, the country was headed toward a recession. The unemployment rate was climbing -- eventually on its way to 10% -- while America's housing market was collapsing. The divide between Wall Street and Main Street was just beginning to widen, some argue.

Now, unemployment is down to 5.5% -- not far from its target level. Last year was America's best year of job growth since 1999. However, some big issues remain. Inequality is worsening and most people's wages have barely grown.

How Hillary approaches inequality, as well as her relationships with Wall Street and Main Street, will be key to her success in this campaign.

Here's how Hillary may shift her approach for 2016:

Related: 'Hillary' websites going for up to $295k

1. How will she tackle Inequality?

Then: Clinton heavily criticized President George W. Bush for his handling of the economy in 2008. She zeroed in on jobs losses, rising inequality and no wage growth.

While the economy hadn't fallen off a cliff yet -- unemployment was 5.6% when she lost the primary race -- her inequality rhetoric resonated with many Americans.

A Republican president ineligible for another election presented an easy punching bag for Clinton on inequality.

"President Bush had one final chance tonight to acknowledge what the American people have known for years: that the economy is not working for middle class families," Clinton said of Bush's State of the Union address in January 2008.

Now: Those problems haven't changed much under President Obama, but Clinton is unlikely to throw the same darts at her former boss.

Inequality is arguably worse now, and wage growth remains the economy's sore spot. In 2008, median weekly wages were $796 -- the exact same amount at the end of 2014, adjusted for inflation, according to the Labor Department.

Clinton must carefully calculate an inequality message without distancing herself from Obama's economic achievements, experts say.

"It s a very different world" from 2008, says Gary Burtless, an economist at the Brookings Institution. "There's more anger out there about the economy and inequality. She'll modify the rhetoric she uses."

Related: The tough task of going through Hillary's emails

2. Too cozy with Wall Street?

Then: The stock market boomed during Bill Clinton's time in office. Hillary liked to remind Wall Street of that in 2008. The tech boom, free trade agreements and bull market were all hallmarks of President Clinton's economy.

Bill had cemented a relationship with Wall Street that Hillary benefited from in 2008, says Larry Sabato, a politics professor at the University of Virginia.

"She was the candidate of Wall Street" in 2008, says Sabato.

Now: Wall Street is still expected to doll out millions to Hillary's campaign, but she must tip-toe more carefully around that support, experts say. The recession generated a scathing image of the bankers who helped finance Hillary's run in '08.

Most recently, democratic senator Elizabeth Warren is hammering big banks for more reforms and could press Hillary and others to take stance as well.

Hillary will have to find the balance between appealing to the Warren democrats that want greater financial change and Clinton's loyal Wall Street donor base, experts say.

"She'll want the populist rhetoric but also the money," says Sabato. With the Clintons, "the money comes first and it may be completely separate from the rhetoric."

Related: He serves BBQ to Bill & Hillary Clinton

3. Can she connect with Main Street?

Then: Clinton ridiculed President Bush in 2008, telling USA Today that the "moneyed class" had reaped all the benefits of his economy.

As a New York senator -- and former First Lady -- she championed middle class jobs, minimum wage laws and pushed for health care reform.

Several years later, Clinton's relationship with the moneyed class is much more public and perhaps political dynamite for her economic policies during this campaign.

Now: Average Americans are still struggling. Inequality is a much bigger issue than it was eight years ago, propelling Thomas Piketty's 700-page book "Capital in the 21st Century" to bestseller status last year.

Experts say Clinton's problem will be connecting with typical Americans. Since leaving the State Department, Hillary has made a fortune on speeches and her book, on top of Bill's well-known wealth.

Knowing this perception, Clinton plans to hold small campaign events this week geared at giving face time to average folks. How Clinton tries to relate to Americans on hot topics like inequality, middle class jobs and the federal minimum wage could be key early on.

Clinton has already tried once to convince Americans she had it hard. One political slip-up came when she wrote in her book, "Hard Choices" that she and Bill were "dead broke" when they left the White House in 2001. The comment was widely viewed as out-of-touch with Main Street realities.

"It was just bizarre," says Baker. The Clinton's wealth "is not anyone's idea of flat broke."

Related: 'President' Hillary Clinton: Good for stocks?

CNNMoney (New York) April 11, 2015: 9:05 AM ET

15.30 | 0 komentar | Read More