Wall Street: Investors cautious after big day
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Gold: Trading now at $1,738 an ounce, down 0.6% from Thursday. Dow Jones industrial average: Trading now at 12,173.51, down 0.3% from Thursday.
The day after. A day after one of the markets’ best days in months, investors are being a bit more cautious.
Avoiding fees. After Bank of America faced harsh criticism for instituting a $5 debit-card fee, other banks are shying away from such fees.
Losing bets. The European rescue plan that forces banks to take a voluntary write-down on Greek debt is a total bummer for investors who had bought credit default swaps to try to cash in on Greece’s misery.
Questioning the SEC. The same judge who questioned the Securities and Exchange Commission’s settlement with Bank of America is questioning the latest settlement sought by Citigroup.
Shocking arrest. Rajat Gupta was a hero in the Indian business community nationwide -- now his arrest has the community reeling.
I am the 1%. An anti-Occupy Wall Street analyst goes down to the protests and videotapes himself taking them on on their home turf.
-- Nathaniel Popper in New York
Twitter.com/nathanielpopper