Economy & Markets
The important economic and stock market news that advisors need to know.
State Street Reports Q3 Earnings Up 64%
By Joyce HansonState 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
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.
October 18, 2010
Stocks Close Higher After Mixed Housing, Manufacturing NewsMixed economic news on the housing and manufacturing fronts did not prevent the stock market from rising as third-quarter bank earnings showed continued strength with Citigroup's report of $2.17 billion in profits.
October 18, 2010
Foreign Ownership of U.S. Securities RisesU.S. Treasuries are still popular among other nations' investors, according to the release of Treasury International Capital data for August 2010.
October 18, 2010
Luxury Spending Bounces Back Big in 2010: Bain StudyA Bain & Co. study, at the behest of Italy's Fondazione Altagamma, the trade group for high-end producers, found spending on luxury goods rebounded sharply in 2010 from 2009.
October 18, 2010
Citigroup Boosts Profits on Weak SalesCitigroup (C) reported third-quarter net income at $2.17 billion, or $0.07 a share, beating analysts' estimates by $0.01. Sales of $20.7 billion, however, missed estimates by $45 million.
October 18, 2010
Earnings Season, Fed Watch, and CDS Hearing: Advisor Briefing for the Week of October 18, 2010Some of the biggest financial services companies report third-quarter earnings this week, while watchers continue to parse Ben Bernanke's speech of last week.
October 17, 2010
No Social Security Pay Increase for Second Straight YearFor the second year in a row Social Security checks will not see a cost of living increase, despite some increases in the prices of goods.