Economy & Markets
The important economic and stock market news that advisors need to know.
Iceland Risks Junk Rating in Wake of Vote
By Marlene Y. SatterAfter voters in Iceland rejected a negotiated deal to repay Britain and the Netherlands for their losses in the wake of the Icesave collapse, Standard & Poor’s said Wednesday that the country risks having its sovereign status downgraded to the level of junk—a rating it already holds from Fitch, and...
April 13, 2011
Consumers Bought More Retail Goods in MarchRetail sales increased 0.4% last month, the Commerce Department said Wednesday. It was the ninth consecutive monthly gain.
April 13, 2011
Fed Beige Book: U.S. Economy Improves in SpringThe U.S. economy improved in every region of the country this spring, but higher oil prices remain a concern, according to a survey released Wednesday by the Federal Reserve.
April 13, 2011
Obama Lays Out Plan to Reduce Deficit by $4 Trillion in Twleve YearsPresident Barack Obama laid out on Wednesday what he called “a more balanced approach” than House Republicans to reduce the nation’s…
April 13, 2011
Obama Lays Out Plan to Reduce Deficit by $4 Trillion in 12 YearsPresident Obama on Wednesday laid out what he called “a more balanced approach” than House Republicans to shrinking the nation’s burgeoning deficit by proposing a budget that would reduce the deficit by $4 trillion over 12 years through a four-step plan, which includes eliminating the Bush tax cuts for the...
April 13, 2011
Fed’s Yellen Speech Foreshadows Policy ChangeFederal Reserve Vice Chairman Janet Yellen addressed the Economic Club of New York on Monday, and Steve Blitz, senior economist at ITG Investment Research, saw indications within that speech of a dual change in policy on the horizon.
April 13, 2011
2011 Q1 Earnings: JPMorgan Profits Surge 67%; Asset Management AUM Up 9%JPMorgan kicked off Q1 2011 earnings season by reporting a 67% rise in profits, with EPS at $1.28 per share versus analysts’ expectations for EPS of $1.15.
April 13, 2011
Japan Downgrades Economic AssessmentFor the first time in six months, Japan has downgraded its economic assessment, citing effects of the earthquake and tsunami on a variety of elements within its economy.