Economy & Markets
The important economic and stock market news that advisors need to know.
S&P 500 Nearly Wipes Out Its Monthly Advance
By Rita Nazareth"Those planning for a relief rally following the passage of the debt ceiling increase may be disappointed," said Nationwide's Mark Hackett.
May 30, 2023
Goldman Planning Another Round of Job CutsThe move comes a few months after the bank had one of its biggest rounds of job cuts ever: 3,200 positions were trimmed in January.
May 29, 2023
What Cuts Are in the Biden-McCarthy Debt Limit Deal?Here's what could happen to programs like Social Security and Medicare, IRS enforcement and payments on student loans.
May 28, 2023
Biden, McCarthy Forge Debt Deal in Bid to Avert DefaultThe deal would clawback funding for IRS agents and speed up some energy project environmental reviews, according to a GOP summary.
May 26, 2023
Stock Rally Looks Shaky; Take Gains Now: UBS' McCartneyThe market is pricing in an exceedingly rosy future, the UBS private wealth managing director said.
May 26, 2023
15 Fun Events to Wow Clients and ProspectsClients can't resist a unique (and free) event, and they'll bring their friends.
May 26, 2023
Wellington Cuts 5% of WorkforceThe news comes four months after industry giant BlackRock said it would trim 500 jobs, representing about 2.5% of its workforce.
May 26, 2023
Cathie Wood's ARKK Dumped Nvidia Stock Before $560B SurgeNvidia "has been very good to her. She was into the stock before it was cool," said ETF analyst Eric Balchunas of Bloomberg Intelligence.