Economy & Markets
The important economic and stock market news that advisors need to know.
Weekly Jobless Claims Drift Down; Retail Sales Edged Up in September
By Marlene Y. SatterCan it be that unemployment is looking up? According to the Department of Labor on Thursday, "the advance figure for seasonally adjusted initial claims was 445,000, a decrease of 11,000 from the prior week.
October 06, 2010
Fitch Cuts Ireland’s Rating on Bailout ConcernsRatings agency Fitch cut Ireland's credit worthiness another notch Wednesday, citing the country's long fight to emerge from record deficits, the toughest bank-bailout effort in Europe and a lagging economy.
October 06, 2010
IMF Cuts U.S. Growth Forecasts through 2011The International Monetary Fund cut its forecast for growth in the United States through 2011, predicting a lackluster rebound hurt by low consumer spending.
October 06, 2010
OppenheimerFunds Promotes Steinmetz to CIOMutual fund behemoth OppenheimerFunds, Inc. announced Wednesday that Art Steinmetz has been promoted to chief investment officer.
October 06, 2010
ADP: 39,000 Jobs Lost in September; Challenger Says Downsizing Is FlatPrivate-sector employment fell by 39,000 from August to September on a seasonally adjusted basis, according to the payroll company ADP's national employment report released Wednesday.
October 06, 2010
Bond Flows In, Equities Out in AugustWith inflows of $19.7 billion, the Corporate Bond objective was the winner in August flows, according to data from FRC released Tuesday.
October 06, 2010
Gold Fever Spreads as Price Hits New HighsGold has always been the port to which people flee in economic storms. One might ask if the current economy, then, is the perfect storm, because the price of gold continues to set new records.
October 06, 2010
China Warns EU to Back Off on Currency RevaluationThe summit in Brussels saw some verbal tussling on Wednesday as China Premier Wen Jiabao warned the EU to stop pressuring for a revaluation of the yuan.