The Street believes that Romney, if elected president, would not re-appoint Fed Chairman Ben Bernanke when his terms expires at the end of 2013. The markets want Bernanke to remain at the Fed because of Bernanke's loose monetary policy, which has helped boost stock prices.
Japanese telecommunications firm SoftBank confirmed Monday that it would buy 70% of Sprint Nextel for $20.1 billion. This acquisition makes it the largest international deal for a Japanese company. The newly created entity will be called "New Sprint" and become a publicly traded company.
Currency Wars is the term coined by Brazilian finance minister Guido Mantega to describe what he saw as the dangerous ramifications of ultra-loose U.S. monetary policy. Mantega (and others) believe that the U.S. is debasing its currency, causing money to rush into emerging market currencies, threatening their ability to compete, and stoking inflation.
Would you give up everything you had in the pursuit of a dream? Evelyn Stevens gave up her career as an investment banker in 2008 and ended up cycling for the U.S. Olympic team in London just three years later.
Bank stocks fell Friday afternoon along with the broader market as concerns over Europe's debt crisis returned. JPMorgan (JPM) stock dropped 1.5% even though the country's largest bank by assets reported $5.7 billion in third quarter profits, up 34% from a year ago.