Economy & Markets
The important economic and stock market news that advisors need to know.
Jobless Rate Steadies but Number of Workers at Lowest Rate Since ’83
By Gil WeinreichThe 117,000 new jobs in July continues to fall short of the increase in working-age Americans and the workforce participation rate has declined to levels last seen in the severe early-'80s recession.
August 04, 2011
U.S., Euro Stocks Crumble on Fears of New CrisisFears in Europe that contagion won't spare Italy and Spain were unassuaged by Europe's central bank on Thursday, sending stocks and bonds plunging. Meanwhile, investors' flight to safety had a perverse effect in the U.S., where the Bank of New York announced it would charge depositors to hold their money.
August 04, 2011
PIMCO’s El-Erian: World Debt Drama Just BeginningPIMCO’s Mohamed El-Erian says conflicts over how to deal with high levels of debt and political histrionics over the best ways to do so will be around for a long, long time.
August 04, 2011
5 Best & Worst Broker-Dealers: Q2 EarningsBrokerage firms in the second quarter boosted earnings growth as high as 470% and reported declines as low as 383% AdvisorOne selected a lucky 10 for scrutiny.
August 04, 2011
Japan Takes Steps to Weaken YenIn response to a move by Switzerland on Wednesday to weaken the Swiss franc, Japan found itself forced to intervene on behalf of its own currency on Thursday for the third time in less than a year, selling an unspecified quantity of yen on the market.
August 03, 2011
Debt Bill Plan: Sweeping Tax Reform AheadCongress has just months under the new debt ceiling law to come up with further deficit reductions. A new report suggests legislators will achieve their goals through sweeping tax reform, since the parties are far apart on the question of spending restraint versus tax hikes.
August 03, 2011
Bond Selloff Sparks Italy's Plea for Euro Zone HelpItaly looked to the euro zone for political help on Wednesday as its bonds were hammered in the midst of a huge selloff.
August 03, 2011
Gold Continues Record RunGold set a record price for the second day in a row on Wednesday, as investors reacted to concerns over the euro zone debt crisis. Adding to the pressure on the precious metal's price was the news that several nations' central banks had also bought gold.