Driving the Day: 5/14/12

May 14, 2012

Need to know…

  • Economists Forecast Subdued Growth This Year. Economists surveyed by the WSJ expect the economy to grow at such a subdued pace this year that unemployment will barely budge. Of the 50 economists surveyed, a third see the biggest risk to growth coming from political inaction this year. The effects of the Eurozone crisis were the biggest potential pitfall, cited by more than half of the respondents.
  • Stocks Plummet Worldwide as Worries Over Greece Intensify. Uncertainty over Greece’s struggle to form a unity government, along with unexpectedly weak industrial production data from the Euro zone are pounding world markets today, sending the Euro to near four month lows and European shares down 1.5%. Asian markets ended mixed today. As of 6:11 am, Dow futures were down 96 points.
  • Health Insurance Marketplaces in Limbo Until Supreme Court Decision. In about two dozen states across the country, the insurance marketplaces at the heart of the 2010 health-care law remain in limbo. According to the Washington Post, Republican governors or lawmakers who oppose the law are refusing to act until the Supreme Court rules on its constitutionality.

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