Economy & Markets
The important economic and stock market news that advisors need to know.
2011 Q1 Earnings: Bank of America EPS Disappoints; Merrill Profits Up 68.6%
By Joyce HansonBank of America reported disappointing Q1 2011 earnings, but the GWIM unit saw one of its strongest quarters since the acquisition of Merrill Lynch.
April 14, 2011
Weekly Jobless Claims Make Unexpected JumpMore people applied for unemployment benefits last week, the first increase in three weeks. Still, the broader trend points to a slowly healing jobs market.
April 14, 2011
Greek Bond Yields Driven Higher on Restructuring FearsThe yield on Greek bonds, particularly for short-term paper, skyrocketed Thursday as worries over the possibility of haircuts drove investors’ fears. Portuguese, Italian, and Spanish bonds followed, since anything that would initiate a Greek restructuring would likely affect the other troubled nations as well.
April 14, 2011
Iceland Risks Junk Rating in Wake of VoteAfter voters in Iceland rejected a negotiated deal to repay Britain and the Netherlands for their losses in the wake of the Icesave collapse, Standard & Poor’s said Wednesday that the country risks having its sovereign status downgraded to the level of junk—a rating it already holds from Fitch, and...
April 13, 2011
Dog days of summerIn the investment world, theories abound, but one that often works is seasonality. The idea is to "sell in May and stay away," meaning that the stock market often does not do well during the summer and early fall months.
April 13, 2011
Notes From Omega’s Leon Cooperman on CNCLeon Cooperman gave a very impressive interview recently on CNBC.
April 13, 2011
Consumers Bought More Retail Goods in MarchRetail sales increased 0.4% last month, the Commerce Department said Wednesday. It was the ninth consecutive monthly gain.
April 13, 2011
Fed Beige Book: U.S. Economy Improves in SpringThe U.S. economy improved in every region of the country this spring, but higher oil prices remain a concern, according to a survey released Wednesday by the Federal Reserve.