Economy & Markets
The important economic and stock market news that advisors need to know.
S&P Warns on Possible Downgrade of EU, Banks
By Marlene Y. SatterStandard & Poor's, continuing a theme it began earlier this week, said Wednesday that the European Union itself could face the loss of its AAA credit rating, as could large euro zone banks.
December 07, 2011
ABA Report: Fixed Annuity Bank Sales Total $4.1 Billion in Third QuarterFixed annuity sales by banks and other depository institutions increased by 3% from the same period one year ago, according to a new report.
December 07, 2011
Sen. Reid: Payroll Tax Cut Deal or BustAs the battle rages on in Washington over whether to extend the payroll tax cut next year, Senate Majority Leader Harry Reid, D-Nev., said Wednesday that 'we arent going home until we finish this.'
December 07, 2011
Pearl Harbor Remembered: Market Reaction to That Infamous DayFor the 12 months prior to the attack, the average daily trading volume on the Dow Jones Industrial Average was about 560,000 shares.
December 07, 2011
Whatever Happened to Gold?As events in Europe have roiled the U.S. markets over the last month, one usually precious element of the market talk has been missing: gold.
December 07, 2011
EU Watchdog Growls at Ratings AgenciesThe European Union agency that presides over the ratings actions of the likes of Moody's, Standard & Poor's, and Fitch Ratings has begun an investigation into how they arrive at rankings for sovereign bonds and other debt, and it warns that if wrongdoing is uncovered, the penalties could be severe.
December 07, 2011
Buffett Goes SolarWarren Buffett is going solar. The CEO of Berkshire Hathaway is stepping in where the government fears to tread, so to speak, as Berkshires MidAmerica Energy Holdings unit agreed to buy the $2 billion Topaz project in California after a U.S. government loan guarantee for the project fell through.
December 06, 2011
Joint Congressional Hearing Addresses Derivatives and Tax ReformBaucus quotes Buffett on limiting potential for mischief; witnesses criticize Congress piecemeal approach to taxing financial products.