Economy & Markets
The important economic and stock market news that advisors need to know.
Fiscal Cliff Deal Extends Tax Break for ‘Underwater’ Homeowners
By Melanie WaddellThe fiscal cliff deal extends the Mortgage Forgiveness Tax Relief Act for one more year, stopping the IRS from taxing mortgage forgiveness as income in the case of a short sale, refinancing or foreclosure.
January 02, 2013
Good year expected for North American stocksBMO Financial anticipates another positive stock performance in 2013, with the U.S. setting the tone.
January 02, 2013
S&P’s Stovall: Pleasing Market Tally for 2012, Warning for 2013Substantial gains across asset classes in 2012 confirmed the old adage about the market ascending a wall of worry. But the certainty of political fighting over spending cuts in the first quarter should provide market entry opportunities to those who missed last year's ride.
January 02, 2013
Fiscal Cliff Deal: The Good, the Bad and the UglyThe fiscal cliff deal that was approved by Congress sent the markets soaring Wednesday, but lawmakers and industry officials were quick to weigh in with their opinionspositive and negativeon the deal.
January 02, 2013
PIMCO’s El-Erian: Fiscal Cliff Deal Makes Little Economic SensePIMCO CEO doesnt think much of the last-minute deal struck by Congress to avert the fiscal cliff.
January 02, 2013
2013: The Year of Trading Dangerously—Searching for Alpha for January 2013The markets this year will be dominated by politics: expect panic sell-offs, but hew to the long-term view in building sensible client portfolios.
January 02, 2013
House Passes Fiscal Cliff Bill, Averting Plunge—for NowHouse passes Senate bill, 257-167, shortly before midnight, sending legislation to President Barack Obama to sign.
December 31, 2012
On Year's Final Trading Day, Markets Calm Despite CliffEuropean, Asian indexes rise significantly for the year, with hopes remaining that some kind of deal still can be made in U.S.