Commodities were down today, bringing major stock indices with them for what looks to be a difficult week in the markets. In one piece of positive news, manufacturers saw a 2.2 percent increase in new orders in February; however, this was not enough to make up for the big drop the month before. In corporate news, Bank of America’s (BAC) CEO made $8.1 million in 2011, more than four times as much as he made in 2010. Goldman Sachs (GS) refused investors’ demands to split the role of CEO and chairman of the board, but compromised by creating a new “lead board member” position.
Word on the Street
- Stock and commodities prices fell today.
- There was an increase in new orders to manufacturers in February.
- Bank of America’s (BAC) CEO Brian Moynihan saw a big pay increase in 2011.
- Peter Schiff is predicting the bursting of a Treasury bubble.
- Goldman Sachs (GS) reached a compromise on its management structure.
- Oil futures dropped on larger-than-expected inventories.