Economy & Markets
The important economic and stock market news that advisors need to know.
PIMCO Forecasts Minimal U.S. GDP Growth for 2011
By John SullivanThe U.S. economy will disappoint investors by expanding at a rate of 1.75% over the next year, said Ramin Toloui of PIMCO.
October 19, 2010
Goldman Sachs Reports Q3 EPS of $2.98 vs. $5.25 Last YearGoldman Sachs reported third-quarter 2010 revenues of $8.9 billion and profits of $1.9 billion, with earnings per share at $2.98 versus $5.25 for third-quarter 2009.
October 19, 2010
State Street Reports Q3 Earnings Up 64%State Street Corp. (STT) Q3 2010 earnings per common share of $1.08, an increase of 64% compared to $0.66 in Q3 2009. Revenue was $2.31 billion, up 3% from $2.24 billion at this time last year.
October 19, 2010
Housing Starts in September Rose for Third Straight MonthThe housing numbers released by the government on Tuesday showed an increase in housing starts, which were up for the third straight month.
October 19, 2010
China to Raise Interest RatesIn a surprising move, The People's Bank of China announced Tuesday that it would raise interest rates for the first time in three years.
October 19, 2010
BNY Mellon's Q3 EPS Bounces Back; Record AUM of $1.14 TrillionBank of New York Mellon Corp. reported third-quarter 2010 profits of $625 million, or $0.51 per common share, compared with a loss of $2.44 billion, or $2.04, in Q3 2009.
October 18, 2010
Stocks Close Higher After Mixed Housing, Manufacturing NewsMixed economic news on the housing and manufacturing fronts did not prevent the stock market from rising as third-quarter bank earnings showed continued strength with Citigroup's report of $2.17 billion in profits.
October 18, 2010
Foreign Ownership of U.S. Securities RisesU.S. Treasuries are still popular among other nations' investors, according to the release of Treasury International Capital data for August 2010.