Industry News

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Stocks pause ahead of Jackson Hole symposium
NEWS INDUSTRY NEWS AUG 19, 2024
Stocks pause ahead of Jackson Hole symposium

This week's meeting should give further signals on rates.

By Bloomberg
Corporate America overestimating sales, warns Goldman Sachs
NEWS INDUSTRY NEWS AUG 19, 2024
Corporate America overestimating sales, warns Goldman Sachs

Strategists say firms are downplaying softer US economy, dollar.

By Bloomberg
Asia currencies at seven-month high amid US 'Goldilocks' scenario
NEWS INDUSTRY NEWS AUG 19, 2024
Asia currencies at seven-month high amid US 'Goldilocks' scenario

Further gains for currencies could be ahead.

By Bloomberg
Bitcoin fails to capitalize on rising global risk sentiment
NEWS INDUSTRY NEWS AUG 19, 2024
Bitcoin fails to capitalize on rising global risk sentiment

Cryptocurrency continuing lower despite improved optimism.

By Bloomberg
Harris pitches new tax credits, subsidies in sweeping "opportunity economy" pledge
NEWS INDUSTRY NEWS AUG 16, 2024
Harris pitches new tax credits, subsidies in sweeping "opportunity economy" pledge

The Democratic presidential nominee is courting votes with expanded aid for first-time homebuyers, parental tax perks, and drug price caps.

By Bloomberg
Bryant Riley offers $7 per share to take embattled firm private
NEWS BROKER DEALERS AUG 16, 2024
Bryant Riley offers $7 per share to take embattled firm private

"If they do something quickly to stabilize the firm they should be fine," one industry executive said about B. Riley Financial.

By Bruce Kelly
Wall Street widens liquidity channels for wealthy art lovers
NEWS INDUSTRY NEWS AUG 16, 2024
Wall Street widens liquidity channels for wealthy art lovers

Cooling sales in the rarefied world of art collectibles is creating an opportunity for JPMorgan, Bank of America, and other big names in banking.

By Bloomberg
Are small business owners suffering from cash flow complacency?
NEWS INDUSTRY NEWS AUG 16, 2024
Are small business owners suffering from cash flow complacency?

A failure to get their financial houses in order could be costing independent business owners dearly, finds a new report.

By Leo Almazora
Stock rally falters as traders weigh "conflicting" economic signals
NEWS INDUSTRY NEWS AUG 16, 2024
Stock rally falters as traders weigh "conflicting" economic signals

Continued Fed speculation on Wall Street has halted a six-day advance in the S&P 500.

By Bloomberg
Raymond James succession plan rolls on with RJA division shakeup
NEWS BROKER DEALERS AUG 16, 2024
Raymond James succession plan rolls on with RJA division shakeup

The broker-dealer giant is shuffling the leadership within Raymond James & Associates as part of its broader seismic reorganization.

By Leo Almazora
Where has all the cash gone?
NEWS INDUSTRY NEWS AUG 16, 2024
Where has all the cash gone?

New Advyzon reports finds cash allocation dipped from 9.5% in 2021 to 4.6% by the end of 2023.

By Josh Welsh
Strong US economy pushes equities towards best week of 2024
NEWS INDUSTRY NEWS AUG 16, 2024
Strong US economy pushes equities towards best week of 2024

Recession fears are easing amid positive data releases.

By Bloomberg
NEWS INDUSTRY NEWS AUG 16, 2024
Retail brokerage, wealth management firms to face continued pressure on margins

Fitch says that strong performance remains offset by higher costs.

By Steve Randall
Fincentric merges with former InvestCloud CEO’s firm, plans expansion
NEWS INDUSTRY NEWS AUG 16, 2024
Fincentric merges with former InvestCloud CEO’s firm, plans expansion

Private equity firm Stellex Capital and Communify acquire firm from S&P Global.

By Steve Randall
Equity funds rebound as investors shrug off August selloff
NEWS INDUSTRY NEWS AUG 16, 2024
Equity funds rebound as investors shrug off August selloff

BofA note says funds are seeing inflows across asset classes.

By Bloomberg
Dealers are holding highest level of Treasuries than ever before
NEWS INDUSTRY NEWS AUG 16, 2024
Dealers are holding highest level of Treasuries than ever before

Record holdings by primary dealers last week, says New York Fed.

By Bloomberg
Why have foreign investors escalated Japanese stock trades?
NEWS INDUSTRY NEWS AUG 16, 2024
Why have foreign investors escalated Japanese stock trades?

BoJ recently went against the grain on interest rates.

By Bloomberg
Creative Planning hangs "Help Wanted" sign for advisors
NEWS RIAS AUG 15, 2024
Creative Planning hangs "Help Wanted" sign for advisors

"I think we’re gearing up to really grow very aggressively in the coming 15 months," says CEO Peter Mallouk.

By Bruce Kelly
More advisors adding utilities to juice up client portfolios
NEWS INDUSTRY NEWS AUG 15, 2024
More advisors adding utilities to juice up client portfolios

Wealth managers are increasingly turning to normally overlooked utility stocks for both yield and growth.

By Gregg Greenberg
New Yorkers' debt woes grow amid slide in real income
NEWS INDUSTRY NEWS AUG 15, 2024
New Yorkers' debt woes grow amid slide in real income

Inflation is biting harder in the Big Apple, leading to more debt dependence, according to new Federal Reserve research.

By Bloomberg