Economy & Markets
The important economic and stock market news that advisors need to know.
Portugal Relents, Asking EU, IMF for Aid
By Marlene Y. Sattern a reversal of his previous position, Jose Socrates, caretaker prime minister of Portugal, asked for financial help for the country on Wednesday.
April 06, 2011
Service Sector Expanded in March at Slower PaceThe U.S. service sector expanded in March for the 16th straight month, although growth slowed from the previous month's pace, which was the fastest in more than five years.
April 06, 2011
Gold, Silver, Oil Gain on Unrest, WorriesSpurred on by unrest in the Middle East/North Africa (MENA) region, the prices of both gold and oil continued to climb on Wednesday, with the former setting its second consecutive record and the latter hitting a 2½-year high.
April 06, 2011
Portugal Edges Closer to Brink: Bond Yield RisesAlthough Portugal is determined to exit its financial crisis without having to follow Greece and Ireland into bailout territory, that is looking more and more unlikely, say experts, as the yield on Wednesday’s bond auction hit new highs.
April 05, 2011
FOMC Supports Easy Money Into ’12; Bernanke Backs Tight Oversight of ClearinghousesMinutes of the meeting of the FOMC on Feb. 15 revealed that opinion was split, but predominantly in favor of a continuation of easy monetary policy into next year. Meanwhile, Fed Chairman Ben Bernanke, in a speech at the Atlanta Federal Reserve Bank Financial Markets Conference on Monday, was talking...
April 05, 2011
Ryan Offers GOP's Long-Term Budget Plan; Talks on Govt. Shutdown FalterU.S. House Budget Committee Chairman Paul Ryan presented a budget that would cut $5.8 trillion in spending over 10 years, as fiscal-year budget talks fall apart.
April 05, 2011
S&P 500 Sees Biggest Increase in Profits Since 1900The biggest increase in profits in more than a century is telling investors that this is no time to sell stocks, even after the Standard & Poor’s 500 Index rallied 97%.
April 05, 2011
Moody’s Cuts Portugal’s Rating, Saying Bailout Need Is UrgentDespite an auction result that bought time for Portugal as that nation seeks to avoid a bailout and resolve its debt issues independently, Moody’s Investors Service on Tuesday cut Portugal’s sovereign debt rating one more notch to Baa1.