Housing, economic news not enough to boost stocks

MAY 26, 2010
U.S. stocks erased gains as the euro extended its slide against the dollar, approaching the four-year low reached last week, and Microsoft Corp. led a slump in technology companies. Microsoft, the world's largest software maker, tumbled 5.3 percent. The Standard & Poor's 500 Index lost 0.7 percent to 1,066.89 at 3:28 p.m. in New York after rallying 1.6 percent earlier. The euro lost 1.3 percent to $1.2187, approaching its low of $1.2144 reached on May 19. The “euro has been trading terribly,” Peter Boockvar, equity strategist at Miller Tabak & Co. in New York, said in an e-mail. “Once euro broke the 1.22 level, selling picked up in everything else.”

Latest News

Vistria takes majority stake in Curi Capital in fresh RIA deal
Vistria takes majority stake in Curi Capital in fresh RIA deal

Chicago-based Curi Capital gets new majority owner as $14 billion RIA eyes acquisitions and expanded family office services

WealthReach, VastAdvisor tie-up takes aim at advisors' cold outreach problem
WealthReach, VastAdvisor tie-up takes aim at advisors' cold outreach problem

Partnership pairs organic lead detection with paid ad targeting to help end "spray-and-pray" marketing for growth-seeking advisory firms.

LPL taps Wells Fargo vet as new chief technology and information officer
LPL taps Wells Fargo vet as new chief technology and information officer

Jonathan Lewis joins the wealth management giant as it proceeds with a $2 billion AI and technology push for advisors.

LPL Financial lands $1.6B Conte Wealth Advisors from Cambridge
LPL Financial lands $1.6B Conte Wealth Advisors from Cambridge

A third-generation Pennsylvania firm with 24 advisors and $1.6 billion in client assets has left Cambridge Investment Research.

Confluence Financial Partners secures minority stake from PE firm
Confluence Financial Partners secures minority stake from PE firm

Fast-growing $7.6 billion Pittsburgh-based RIA secures growth capital but retains full management control.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income