Economy & Markets
The important economic and stock market news that advisors need to know.
Fed Lowers Fed Funds and Discount Rates
By Staff WriterHoping to "help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time," the Federal Reserve Open Market Committee lowered the Fed Funds rate to a target of 4.5%, and the Discount rate to...
November 01, 2007
The Banking BubbleChina's two domestic stock markets caused a global panic in late February and early March when they dropped by nearly 10 percent in just a...
November 01, 2007
Dow Jones/Barron's Launch BenchmarkDow Jones Indexes and Barron's have unveiled the Barron's 400 index, which tracks the performance of highly liquid U.S. stocks, highlighting America's most promising companies...
October 25, 2007
Merrill Lynch Reports LossMerrill Lynch reported that the company lost $2.3 billion in the third quarter, or $2.85 per diluted share. Problems in the CDO and U.S. subprime markets caused the firm to report a much larger than expected write-down of $7.9 billion in Merrill's fixed income, currencies, and commodities business.
October 23, 2007
Putin to Remain Front and Center in RussiaRussia has enjoyed unprecedented economic growth over the seven years of Putin's reign, due largely to surging oil and gas export revenues. At any rate, the commodity price surge jump-started the economy--as well as the government to repay its international debts--leaving the ruble devaluation, debt default, and financial crises of...
October 08, 2007
EBRI Analyzes The UninsuredWorkers in some industries are much less likely to have health insurance than workers in some other lines of work, according to the Employee Benefit ...
October 08, 2007
RiverSource Offers New DI PoliciesAn insurer is rolling out two new individual disability income insurance products.RiverSource Life Insurance Company, a unit of Ameriprise Financial Inc., Minneapolis, says the products, ...
October 04, 2007
Lifetime Income Products DebutFidelity Investments unveiled a group of retirement income products and online applications for advisors and clients, October 3, aimed at helping retirees generate more predictable monthly cash flow streams for certain time horizons, or for life.