The stock market was flat today as investors awaited an announcement by Sen. Chris Dodd (D-Conn.), chairman of the Senate Banking Committee, about his proposed financial industry reforms.
Dodd is expected to announce later today a series of reforms that would impose new restrictions on how banks lend, borrow, invest and trade.
Dodd is expected to say that the changes are needed to prevent another financial crisis like the one that brought the global banking system to its knees in 2008.
Local stocks in the BizTimes Stock Index fell with the broader market this morning. The largest local decliners today were Bucyrus International Inc. (down $1.78 to $62.97) and Joy Global Inc. (down $1.00 to $56.56). The largest local gainers this morning were Generac Holdings Inc. (up 54 cents to $14.61), Fiserv Inc. (up 21 cents to $50.63) and Strattec Security Corp. (up 21 cents to $21.26).
Stocks begin week with whimper ahead of banking reform proposals
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