Economy & Markets
The important economic and stock market news that advisors need to know.
The Rich Got Poorer
By staff WriterThe percentage of total individual income going to the top earners shrank dramatically in 2008, according to the Tax Foundation.
October 06, 2010
OppenheimerFunds Promotes Steinmetz to CIOMutual fund behemoth OppenheimerFunds, Inc. announced Wednesday that Art Steinmetz has been promoted to chief investment officer.
October 06, 2010
ADP: 39,000 Jobs Lost in September; Challenger Says Downsizing Is FlatPrivate-sector employment fell by 39,000 from August to September on a seasonally adjusted basis, according to the payroll company ADP's national employment report released Wednesday.
October 06, 2010
Bond Flows In, Equities Out in AugustWith inflows of $19.7 billion, the Corporate Bond objective was the winner in August flows, according to data from FRC released Tuesday.
October 06, 2010
Gold Fever Spreads as Price Hits New HighsGold has always been the port to which people flee in economic storms. One might ask if the current economy, then, is the perfect storm, because the price of gold continues to set new records.
October 06, 2010
China Warns EU to Back Off on Currency RevaluationThe summit in Brussels saw some verbal tussling on Wednesday as China Premier Wen Jiabao warned the EU to stop pressuring for a revaluation of the yuan.
October 06, 2010
Fidelity Reports Record for Its Muni Bond UnderwritingThe institutional trading arm of Fidelity Investments, Fidelity Capital Markets, reported that it participated in a record number of new municipal bond issues for the first three quarters of 2010.
October 06, 2010
Allianz Offers Inflation-Protected Annuity RiderAllianz Life announced Tuesday the launch of a lifetime income rider for fixed index annuities that will provide income-protected payments.