Optimism spreads. Economic recovery?

GDP shows contraction, however less than expected. The gross domestic product fell 1% below the 1/5% expected. Consumer spending showed improvement by gaining ½% in the second quarter. These figures supported the improvement in corporate earnings of companies such as Motorola Inc, Dow Chemical Chemical Co. and Caterpillar Inc. We see less and [...]

Transitioning

Going Independent is on the rise in the brokerage industry, there are many pros and cons
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Transitioning trend keeps going

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Are REITS back?

A REIT set up by Private National Mortgage Acceptance which is headed by former Countrywide Financial executives raised $335 Million through an IPO. The REIT was being used to purchase distressed residential mortgage assets. www.onwallstreet.com/news/real-estate-investment-trust-2663419-1.html?ET=onwallstreet:e578:2063175a:&st=email

Morgan Stanley reviewing leveraged ETFs

In response to the recent message board activity and notices on leveraged ETFs, Morgan Stanley is examining and Charles Schwab have both posted warnings on their websites pertaining to the possible losses that can occur on leveraged ETFs for products held more than one day.
The Schwab notice, posted Tuesday, details how trades of both [...]

Bank of America Plans Chinese Subsidiary

Bank of America, following their rivals Morgan Stanley and UBS, is tapping into the Chinese Consumer Market. The largest U.S. Bank plans to start up a corporate and investment banking division along with wealth management. They will be applying for licensing and incorporation within months to get the project going. Check out the story below.

Cash for Clunkers – Victim of Its own Success?

So we have finally managed to get a government-sponsored program….one that is so popular that in its 6-day existence it already run out of the money. Cash for Clunkers was expected to run through September 30th but Secretary of Transportation informed key members in Congress that by midnight of Thursday, program will run out of [...]

Economic Calandar for 07/31/2009

8:30 GDP Q2 (Advance)
8:30 Employment Cost Index
9:45 NAPM Chicago Business Barometer
3:00 PM Farm Prices

Number of Advisors going Independent not as large as thought

In a study from Boston-based research firm Cerulli Associates, it shows that the number of Advisors going independent and taking assets away from Wirehouses and other captive firms is not as large as once thought.
Financial Advisors manage collectively approximately $8.3 Trillion of which Employee-advisors who work for banks, wirehouses, regionals and insurance firms—now account [...]

Exxon disappoints Street

The reported profits were steeper than expected. Surprisingly after record profits last year, the company’s earnings have fallen dramatically, along with crude oil prices falling by more than half from 2008. The company missed both on margins and production. This is yet another example of global economic conditions impacting the energy industry by reducing demand. [...]

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