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White House memo confuses Wall Street on fate of fiduciary rule

February 7, 2017 By publisher

WASHINGTON/NEW YORK (Reuters) – Conflicting signs from the White House have left brokerage firms and lobbyists unsure whether a controversial rule governing retirement advice will ever be put in place, but they are taking no chances and complying anyway. President Donald Trump's Friday memorandum ordered the Labor Department to review the so-called “fiduciary” rule, which requires brokers to put their clients' interests first when advising them about 401(k) plans or individual retirement accounts. Trump's memo did not go as far as White House early guidance to reporters that the memo would ask the department to “defer implementation” of the rule.

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White House memo confuses Wall Street on fate of fiduciary rule

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Wall Street slips after soft GDP data, earnings

January 27, 2017 By creative

U.S. stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes.

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Wall Street slips after soft GDP data, earnings

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Wall Street slips; indexes still near record highs

November 18, 2016 By admin

The Nasdaq hit a record high earlier in the session, helped by a rise in Microsoft and other big tech stocks. U.S. stocks had been on a tear since Donald Trump's surprise victory in the presidential election last week as his proposals to increase infrastructure spending and reduce taxes are seen benefiting the economy. The rally lost steam this week as investors took to the sidelines, awaiting more clarity regarding Trump's policies.

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Wall Street slips; indexes still near record highs

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Weak utilities demand restrains U.S. industrial production

October 17, 2016 By creative

U.S. industrial production barely rose in September as a rebound in manufacturing and mining output was offset by surprisingly weak demand for utilities, pointing to a moderate acceleration in economic growth in the third quarter. Gains in output are likely to be muted as the sector remains constrained by the lingering effects of the dollar's past rally, a collapse in oil prices and weak global demand. The Fed said industrial output edged up 0.1 percent last month after declining 0.5 percent in August.

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Weak utilities demand restrains U.S. industrial production

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Wall Street sells off on weak earnings, election fears

October 11, 2016 By admin

Illumina shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Although overall S&P 500 earnings are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected reports would result in a positive quarter. At the same time, investors are bracing for the U.S. Federal Reserve to raise interest rates by the end of the year.

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Wall Street sells off on weak earnings, election fears

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Wall Street rallies, led by Deutsche Bank, financials

September 30, 2016 By admin

By Lewis Krauskopf NEW YORK (Reuters) – Wall Street rallied on Friday, lifted by a surge in Deutsche Bank shares and financial stocks after concerns eased about the health of the German bank. Deutsche Bank's U.S.-listed shares jumped 14 percent a day after sinking to a record low. French news agency AFP reported that Deutsche Bank was nearing a $5.4 billion settlement with U.S. officials over charges related to selling toxic mortgage bonds.

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Wall Street rallies, led by Deutsche Bank, financials

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Wall Street rises in wake of first presidential face-off

September 27, 2016 By publisher

Amazon.com increased 1.98 percent and the consumer discretionary index gained 0.93 percent higher after a report showed that the consumer confidence index for September rose to its highest level in nine years. Following the first of three presidential debates on Monday, Trump vowed to hit Clinton harder after she put him on the defensive. “From a market perspective, rightly or wrongly, there is an understanding that Mrs Clinton would be a safe pair of hands, that there's very little uncertainty there,” said Brad McMillan chief investment officer for Commonwealth Financial in Waltham, Massachusetts.

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Wall Street rises in wake of first presidential face-off

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Wells Fargo faces proposed class action over bogus accounts

September 16, 2016 By admin

Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior. The lawsuit was filed in the U.S. District Court in Utah, and seeks class-action status on behalf of hundreds of thousands of customers nationwide.

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Wells Fargo faces proposed class action over bogus accounts

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Wall Street Week Ahead: Sleepy summer may give way to freaky fall

September 3, 2016 By publisher

The dog days of summer have lived up to their sleepy reputation this year as far as U.S. stocks are concerned, but market gyrations could soon pick up as a traditionally more volatile time of year looms.

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Wall Street Week Ahead: Sleepy summer may give way to freaky fall

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Wall Street slips in wake of comments by top Fed officials

August 26, 2016 By publisher

U.S. stocks ended modestly lower after a volatile session on Friday, having bounced between gains and losses as investors wrestled with the likely timing of a U.S. interest rate hike following comments from top Federal Reserve officials. The S&P 500 rose after Fed Chair Janet Yellen said the case for raising rates had strengthened but did not indicate when the Fed would act. Yellen told a gathering of central bankers from around the world in Jackson Hole, Wyoming, the U.S. economy was nearing the central bank’s goals of maximum employment and price stability but that future hikes should be “gradual”.

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Wall Street slips in wake of comments by top Fed officials

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