Economy & Markets
The important economic and stock market news that advisors need to know.
U.S. Jobless Rate Surges to 14.7% in April
By Bernice NapachIt's the highest unemployment rate since early 1948.
May 07, 2020
Kitces: Pandemic to Accelerate Shift to AUM-Based Fee ModelCOVID-19 is "making the future get here faster than anyone expected," he says.
May 07, 2020
Treasury, IRS Extend PPP Loan Grace PeriodThe safe harbor repayment date with respect to earlier "economic certifications" made by borrowers has been extended by a week.
May 07, 2020
UBS Postpones Advisor Comp ChangesMeanwhile, its advisor headcount in the Americas is down 294 from last year and 44 from the prior quarter.
May 06, 2020
BlackRock's Fink Delivers Grim Outlook With Tax Hikes for Corporate AmericaFink says bankers have told him they expect a cascade of bankruptcies to hit the American economy.
May 06, 2020
PPP Loan Distribution Doesn't Reflect Need: New York FedResearchers found a surprising explanation for the disparity.
May 06, 2020
What's Next for Equity Markets?Despite the recovery from the market's March lows, investors should remain cautious.
May 06, 2020
Fidelity Charitable Donors Step Up Funding for COVID-19 ReliefEarly last month the DAF challenged donors to double their charitable donations targeting pandemic relief.