President Barack Obama said he will nominate Mark P. Wetjen, senior policy adviser to Senate Majority Leader Harry Reid since 2004, to become a member of the U.S. Commodity Futures Trading Commission.
Wetjen, whose nomination is subject to Senate confirmation, would replace Michael V. Dunn, a Democrat whose term expires June 19. The CFTC, which is writing derivatives regulations under the Dodd-Frank Act, currently has three Democrats including Chairman Gary Gensler and two Republican members.
12 pieces of sound trading advice
Everyone wants to be a great trader, but few are able to truly succeed. Here are 12 pieces of trading advice from some of the most iconic traders.
China manufacturing shrinks at faster pace amid cash crunch
China’s manufacturing is shrinking at a faster pace this month, adding to stresses in the economy and financial system.
Using options to profit from a euro top
The Eurozone would not stand to benefit from a discontinuation of the American central bank stimulus efforts. So with downside pressure likely to continue for the euro, here's how can a trader take a speculative view on the euro with options.
Dollar gains most in 2 months as Bernanke signals bond-buy taper
The dollar rallied the most in two months versus the euro as Federal Reserve Chairman Ben S. Bernanke said the central bank could reduce its bond-buying this year and end it next year if economic improvement continues.