Smaller stocks gain on bigger players as 2019 closes
Small and mid-cap stocks haven’t made quite as big gains this year as the larger indexes, but they could be poised for a breakout next year if the economy continues growing.
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Fed leaves low rates alone, foresees no moves in 2020
In a sign of the Fed’s confidence about the economy, its latest policy statement dropped a phrase it had previously used that referred to “uncertainties” surrounding the economic outlook.
Venture capital firm Hyde Park raises $100M for latest fund
Hyde Park Venture Partners, a Chicago-based venture capital firm with an office in Indianapolis, said its third fund exceeded its original goal of $75 million with help from repeat institutional investors.
Schwab to acquire Ameritrade, creating wealth management ‘Goliath’ with $5 trillion in assets
The tie-up of the brokerage companies reflects the shift from a commission-heavy revenue stream to one more reliant on interest income and other client services.
Schwab boosts new trading accounts 31% after fees go to zero
Charles Schwab Corp.’s free trading offer is turning out to be a hit, drawing in new customers at a fast clip.
Tech academy Kenzie secures $100M for student tuition financing
Indianapolis-based Kenzie Academy said the financing will help it offer programs across the country. The financing is backed by San Francisco-based Community Investment Management, an institutional impact investment manager.
IBJ Podcast: Pete the Planner on the five deadly sins of money management
This week, Peter “Pete the Planner” Dunn and host Mason King talk about spotting the emotions like envy, fear and shame that can lead to poor financial decision making.
Fed cuts rates for third time this year but signals pause
A statement the Fed released after its latest policy meeting removed a key phrase that it has used since June to indicate a future rate cut is likely.
Federal Reserve expected to cut rates but may offer little guidance
The Fed’s policymakers will likely frustrate anyone who is hoping for a clear signal about what they may do next. The central bank may prefer instead to keep its options open, economists say.
Stocks set another record amid growing economic caution
The strongest market performers in recent months have been companies that pay big dividends and are more likely to hold up during downturns. Investors, meanwhile, remain hesitant to plow their money into stocks.
J.P. Morgan sues ex-broker after client exodus to his new firm
The brokerage alleges that Erik Weiss, since leaving for a job with Raymond James & Associates last month, has been improperly soliciting clients to follow him.
Colleges find big benefits in connecting investors with startups
Colleges nationwide are launching angel networks that connect business executives and investors with entrepreneurs and startups with ties to the school.
Fed expected to cut rates next week before hitting pause button
The Fed has already lowered rates twice this year, in July and September, not because officials forecast a steep downturn but because the risks of such a slump have mounted.
Uncertainties escalate for Fed as it weighs another rate cut
The Federal Reserve finds itself in an unusually delicate spot as it considers how much more to try to stimulate an economy that’s still growing and adding jobs but also appears vulnerable.
Federal Home Loan Bank assists smaller banks, boosts affordable housing
Last year, the Federal Home Loan Bank of Indianapolis had $32.7 billion in loans outstanding to its members, enabling them to extend their business reach further than they could on their own.
Banks move around in latest deposit rankings
JPMorgan Chase and PNC Bank saw both their Indianapolis-area deposits and their market share decline over the past year, although they retained their positions as the area’s two largest banks, according to Federal Deposit Insurance Corp. data.
Bankruptcy filings hold roughly steady
The U.S. Bankruptcy Court for the Southern District of Indiana handled 10,670 bankruptcy filings during the first nine months of this year—slightly fewer than a year ago.
Financial firm faces complaints from customers who say they were led into unsuitable investments
David A. Noyes & Co. has helped raise money for companies—including Indianapolis-based Digonex Technologies Inc. and Fishers-based SteadyServ Technologies LLC—by persuading its clients to invest. But such investments, known as private placements, are risky by nature—and Noyes’ clients have not always been happy with the results.
Charles Schwab escalates online brokerage-fee war
Charles Schwab is betting the decision to lower or eliminate trading fees will help it attract customers, who’ve grown more vocal about the cost of investing.
Bankruptcy, morass of litigation follow exec’s indictment
The legal situation is increasingly complex for Kerri Agee, who in March was indicted on federal fraud charges in connection with her now-defunct Westfield financial services firm.