Economy & Markets
The important economic and stock market news that advisors need to know.
Global Markets Drop on China Rate Hike Fears
By Pan PylasFears that China will tighten its monetary policy hit stocks hard Thursday despite another batch of encouraging U.S. economic news.
January 20, 2011
2010 Q4 Earnings: BNY Mellon Misses Expectations; Pershing Fees RiseBank of New York Mellon reported Q4 profits of $0.55 per share, missing analysts’ expectations for earnings of $0.57. The bank’s Pershing unit said revenues rose though profits fell.
January 20, 2011
The Logic Behind the Gold TradeI like to live my life by heuristics – those little rules of thumb that help us remember to look both ways before crossing the street and to brush after every meal.
January 20, 2011
Ireland Roiled by Cabinet Resignations; Doubts on Funding Spain’s BanksA surprise move on Thursday by Ireland’s Prime Minister Brian Cowen blew up in his face as an intended reshuffle of his Cabinet resulted instead in fury from coalition partners and others. Meanwhile, Spain, seeking to soothe its own financial troubles, planned to recapitalize its banks.
January 19, 2011
2010 Q4 Earnings: Northern Trust Profit Falls 22%Wednesday’s announcement of Q4 earnings by Northern Trust Corp. disappointed investors, as profits fell 22%, driven down by low interest rates.
January 19, 2011
2010 Q4 Earnings: State Street Profits FallDespite operating earnings that came in at $0.87 per share, beating analyst estimates by a penny, State Street Corp. (STT) on Wednesday took a beating from investors.
January 19, 2011
2010 Q4 Earnings: Goldman Sachs Profits Plummet 53%Goldman Sachs' Q4 2010 earnings report met analysts’ expectations but disappointed them just the same because the Wall Street giant’s earnings dropped 52% from a record high in 2009.
January 19, 2011
China’s Hu Meets Obama at White HouseTouching on a key source of tension between the U.S. and China, President Barack Obama greeted Chinese President Hu Jintao on Wednesday by stressing the need for nations to observe universal human rights.