This morning, the Commerce Department released the preliminary figure for 1st quarter Gross Domestic Product (GDP), and the results were not encouraging. The initial reading shows that the economy grew at a snail’s pace—0.2%—in the first quarter, an outcome even more disappointing than the anticipated 1.0% growth experts predicted. It’s no...
The stock market ended the first quarter of 2015 in almost the same position where it began the year. But it sure was a bumpy ride to get back to the starting position. The Dow took a beating in January—falling almost 4%—before recovering to gain 5.6% in February. This was...
It’s been nearly a month since President Obama made a strong push for fiduciary responsibility on Wall Street, explaining that biased financial advice robs everyday Americans of billions of dollars each year. Since that time, politicians and financial advisors alike have weighed in on the issue. But on Tuesday, perhaps...
Six years ago, Wall Street was going through a dark time. The 2008 Great Recession cut the value of the stock market by more than half, and it was on this date—March 9, 2009—that the S&P 500 bottomed out at 676.53. Since that day, it’s been the market’s time to shine....
Since the end of the financial crisis, consumer advocates have pushed for fiduciary duty on Wall Street—an obligation for brokers and financial advisors to act in the best interest of clients at all times. Last week, President Obama added his voice to the cause. Speaking to a gathering at AARP...
It’s been almost four years since the Department of Labor (DOL) proposed a rule that would enforce a fiduciary duty on financial advisors who work with retirement accounts. But little progress has been made towards imposing such a standard, thanks to continued protests from the financial industry. The most recent—and...
The concept of diminishing returns is one of the oldest tenets of economics. It states that if one factor in production is continually increased while all others remain stable, the results of that production will become smaller and smaller. The United States realized this during its three separate quantitative easing...
In less than two weeks on the job, the 114th United States Congress has taken major steps towards undoing one of the most important pieces of financial legislation this decade. Rep. Mike Fitzpatrick (R-PA) is a member of the House Financial Services Committee. Last week, Rep. Fitzpatrick introduced a bill...
2014 was another historical year for Wall Street. The blue-chip Dow Jones Industrial Index reached its all-time high 37 times, while the broader S&P 500 reached a new apex on a whopping 52 occasions! So it might surprise you to learn that it was actually a below-average year for the...
The crisis in Russia worsened Tuesday when Standard and Poor’s (S&P) placed the nation on negative credit watch. In a statement, S&P said that the move “stems from what we view as a rapid deterioration of Russia’s monetary flexibility and the impact of the weakening economy on its financial system.” The...