Critics including some regulators and market participants say that HFT trading, which captured the spotlight in the May 2010 flash crash, serves little purpose, may distort the market and leaves retail investors at a disadvantage.
Politically, 2013 was the year of snatching defeat from the jaws of victory. First the GOP followed the direction of Junior Senator Ted Cruz (R Tex.) down a dark alley in a fight they were guaranteed to lose, and, then with the GOP on the ropes, the President and his team botched the roll-out of the Affordable Care Act website. In the markets all eyes were on Federal Reserve mainly because Congress abdicated all responsibility for moving the economy forward to Ben Bernanke, who finally signaled the beginning of the end of QE3.
Facebook Inc. rose as much as 4.1% following an announcement that it will join the benchmark Standard & Poor’s 500 Index next week, cementing the social-networking company’s recovery from the turbulence that surrounded its initial public offering last year.