The budget agreement reached by congressional Democrats and Republicans would provide only a modest boost to the U.S. economy. The psychological effect is likely to be a lot greater.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
Crude options volatility rose as futures slipped below a $100 a barrel amid rising stockpiles. Implied volatility for at-the-money December options was 19.79% at 2:20 p.m. on the New York Mercantile Exchange, from 19.06% on Oct. 18.
Paul Volcker said he wasn’t involved with writing the final version of the rule that bears his name.