Economy & Markets
The important economic and stock market news that advisors need to know.
S&P Cuts EFSF Rating
By Marlene Y. SatterStandard & Poor's followed up its mass cuts to the credit ratings of eurozone countries on Friday with a cut in the credit rating of the European Financial Stability Facility on Monday. EFSF officials said that nonetheless the facility was well enough funded to cope with the eurozone debt...
January 17, 2012
Goldman’s O’Neill to Developed World: Don’t Fear the BRICsChina creates another Greece every four months in terms of GDP growth, so developed countries would be well advised to embrace the BRICs, says Goldman Sachs' Jim ONeill.
January 17, 2012
China Seen Driving Oil to 3-Day HighAn expectation that China will increase financial stimulus led to a rise in the price of oil to a three-day high, as France advanced arguments for an embargo on Iranian oil. Meanwhile, Saudi Arabia said it would try to stabilize the price of oil at around $100.
January 16, 2012
Stocks to Climb in 2012, Birinyi Associates SaysMoney manager Laszlo Birinyi correctly predicted the 11% pullback by the S&P 500 in the fall, and he now predicts a bullish trend will continue in 2012.
January 16, 2012
Martin Luther King’s Economic PrioritiesIf Martin Luther King were alive today, what would he have to say about todays dominant issuethe weak economy?
January 16, 2012
Oil Price Up on Iran Threat, Nigerian StrikesThe price of oil climbed Monday from a four-week low over worries that ongoing Nigerian strikes over a cut in gasoline price subsidies and Iranian threats to close the Strait of Hormuz would threaten supplies.
January 16, 2012
Triple-A Eurozone Rescue Plan Depends on Germany and Others: S&PAfter downgrading most of the eurozone on Friday, Standard & Poor's said that the continued triple-A rating for the European Financial Stability Facility, the region's rescue mechanism, depended on more participation from Germany and other nations that retained their top credit rating.
January 16, 2012
Downgrades Hit Europe; PIMCO’s Gross Sees Greek DefaultFriday the 13th turned out to be very unlucky indeed for the euro zone, as Standard & Poor's downgraded nine countries in the bloc, including triple-A rated France and Austria, and put 14 of the 17 countries on negative outlook.