Read all about it! This Week’s Top Line News Summary – 2/8/2010
Bummed it’s the end of the football season? Us too! But to liven up your Monday, we’ve compiled some nuggets of interest from the business world. It might not be as good as a party on Bourbon Street, but its close enough. This week we are taking a closer look at news in healthcare, the markets and banking. Enjoy!
Healthcare: During the Super Bowl pre-game show on Sunday, President Obama announced plans to assemble a bipartisan healthcare session at the While House. The session would be televised live this month, allowing Americans to see if/how Democrats and Republicans are working together. Read more here: http://nyti.ms/9A9d4p
Markets: We love Mondays!! Well at least the markets love Mondays. Since the start of 4Q, the S&P 500 has risen on 15 Mondays, dropping only twice, with an average daily return of 72 basis points. That’s enough to cure the Monday blues. Read more about this Monday effect. Also, while earnings season is just about coming to a halt, we still have some big names such as Coke and Disney reporting Tuesday. Economic data is a bit thin, with December wholesale trade numbers due out Tuesday, December trade deficit Wednesday and January retail sales reporting on Thursday.
Banking: As Obama tightens his hold on the banking industry, many of the big Wall Street banks are diverting cash donations they traditionally gave to the Democrat Party to the Republicans. The shift is seen as a protest by the banks to register their displeasure at the Government’s strict plans for the industry. The New York Times ran an interesting article this weekend discussing the message Wall Street is sending to the Government. For the full article please click here.
What has captured YOUR eye this week?
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