Economy & Markets
The important economic and stock market news that advisors need to know.
China Economic Growth Cools, Inflation Rises
By Marlene Y. SatterChina's economic growth in the third quarter hit 9.6%, down from 10.3% in the second quarter, and consumer prices rose 3.6% in September, according to figures released Thursday.
October 19, 2010
LPL's Kleintop: Market Structure Fears Behind 'Buyers Strike'U.S. stocks are up 15% in the last three and a half months, according to Jeffrey Kleintop, chief market strategist at LPL Financial, but individual investors are doing more selling than buying.
October 19, 2010
California Investors Fight Proposition 23Investors in Valero Energy Corp., Tesoro Corp. and Occidental Petroleum, which have all spent large amounts of cash to help pass California's Proposition 23, are unhappy they are doing so.
October 19, 2010
Goldman Sachs Reports Q3 EPS of $2.98 vs. $5.25 Last YearGoldman Sachs reported third-quarter 2010 revenues of $8.9 billion and profits of $1.9 billion, with earnings per share at $2.98 versus $5.25 for third-quarter 2009.
October 19, 2010
State Street Reports Q3 Earnings Up 64%State Street Corp. (STT) Q3 2010 earnings per common share of $1.08, an increase of 64% compared to $0.66 in Q3 2009. Revenue was $2.31 billion, up 3% from $2.24 billion at this time last year.
October 19, 2010
Housing Starts in September Rose for Third Straight MonthThe housing numbers released by the government on Tuesday showed an increase in housing starts, which were up for the third straight month.
October 19, 2010
China to Raise Interest RatesIn a surprising move, The People's Bank of China announced Tuesday that it would raise interest rates for the first time in three years.
October 19, 2010
BNY Mellon's Q3 EPS Bounces Back; Record AUM of $1.14 TrillionBank of New York Mellon Corp. reported third-quarter 2010 profits of $625 million, or $0.51 per common share, compared with a loss of $2.44 billion, or $2.04, in Q3 2009.