Time makes things change and renew the markets. A week has gone, now just check how the financial market going.
The Financials Pit Review
for The Week of July 19th, 2010
for The Week of July 19th, 2010
By PitGuru Frank LaMantia
JD Power has released their annual survey of investor satisfaction with brokerage firms. Full service brokerages that one might expect to have pulled ahead in ratings were down. BOA/Merrill, Morgan Stanley/Smith Barney, and Wells Fargo came up on the short side of the list. The overall top 3 firms that measured investor’s perception of the advisers, performance of investments, and accounting fees was Edward Jones, Royal Bank of Canada’s RBC Wealth Management, and LBL Financial. An increasing proportion of the 4,460 investors who took the survey said they believed their investment firm was driven more by profit concerns than focused on the customer.
Friday could be a market-mover simply because the stress announcements for over 91 banks in Europe will be announced. This will hopefully show weak spots and give vulnerable banks the opportunity to raise capital. These tests are being taken to show Asian wealth funds that European savings banks are not risky business, and also show that investors are confident. Are these tests being done for the right reasons? It seems as though it is for money rather than the safety of consumers!
Corporate earnings used to be cut and dry where positive earnings helped the stock market move in an upward direction. Economic reports have put a solemn mood on earnings before the season even started. A year ago many polled said a double recession was impossible. Now it is in the financial news as a main topic each day. The housing market still seems to be a thorn in the consumer’s side. Sideways trading, little to no growth, and possibly a double recession could be what is in store for the future.
The S&P traded up 4 points to 1065 the DOW traded at 10089 up 30 points in premarket trading. Some may consider this trader pessimistic or even doom and gloom but if this market stagnates at this juncture a sell off could be in the midst. Many times in this situation the market gains momentum to give itself a cushion just in case bad news is announced.
To keep up with the financial market, check out the free currency rate calculator for extra help!
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It's some good advice because consumers are bouncing back, buying more and more things as the financial crisis recovers. Based on the rate it's recovering we should see quite the boom soon. It is in part down to good <a href="http://www.bournesdebtsolutions.com>debt advice</a> given to people with finance problems.
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