Today's Business Roundup

By Scarlette Whyte

Markets

U.S stocks turn green after a shaky morning. The Dow closed above 12,000 points after taking losses this morning. S&P gained 7.89 points and Nasdaq 9.10 points. Global markets brace for the outcome of the European debt crisis.

Investment

The spotlight is still on MF Global.  Over the weekend, CME Group and Intercontinental Exchange moved to limit the fallout from the MF Global Holdings bankruptcy on futures markets by lowering margin requirements on some accounts

Wealth Gaps

According to Pew Research Center, there is a growing wealth gap between the older and younger Americans. Younger Americans are not only having difficulty finding jobs because of the economic downturn, but some are buried in student loan debt. Some are even pursuing advanced degree and accumulating even more debt while waiting the labor market to bounce back.

After analyzing US Census Data, Pew found that in 2009, households headed by adults ages 65 and older possessed 42% more median1 net worth (assets minus debt) than households headed by their same-aged counterparts had in 1984. During this same period, the wealth of households headed by younger adults moved in the opposite direction. In 2009, households headed by adults younger than 35 had 68% less wealth than households of their same-aged counterparts had in 1984.