Economy & Markets
The important economic and stock market news that advisors need to know.
Bank Failures in 2010 Worst Since S&L Crisis
By Marlene Y. SatterThis year was the worst year for bank failures, according to the FDIC, since 1992, when the savings and loan crisis was visiting disaster upon the U.S. economy.
January 03, 2011
ISM Shows December Growth Fastest Since May; Construction Spending RisesManufacturers produced more goods and booked more orders last month, leading to the fastest growth in factory activity since May, and construction spending also rose.
January 03, 2011
Congress & Spending, Fed & Budget, and Jobs: Advisor Briefing for Week of Jan. 3, 2011Market-movers for the first week of 2011: jobs, budgets and a new Congress.
January 03, 2011
Euro Gives Back Gains; Gold, Silver RiseIn thin trading on the first business day of 2011, the euro gave back much of what it had gained at the end of the old year, with holidays in London and Tokyo contributing to the trend.
January 03, 2011
January Is Best Time to Talk to Clients: TD Ameritrade New Year’s SurveyStuart Rubinstein of TD Ameritrade noted that advisors should make talking to their clients their first New Year’s resolution.
January 02, 2011
GOP Push Cuts, No Raising of Debt Ceiling; Goolsbee Warns of DefaultAs Republicans on the Sunday talk shows talked of repeal of the health care law and drastic spending cuts, Austan Goolsbee, the chairman of the Council of Economic Advisers, warned against a failure to raise the country’s debt ceiling.
January 02, 2011
Greece Still Pushing for Euro BondsGreece’s Prime Minister George Papandreou said Friday that, despite Germany’s opposition to the proposal, Athens was still seeking support for common euro zone bonds.
January 02, 2011
Hungary to Assume EU Presidency Under CriticismJust as it is about to take over the presidency of the EU, Hungary is fielding critics from other nations in the bloc for its actions in consolidating power under Prime Minister Viktor Orban and his Fidesz party.