MBIA Inc

S&P 500 Inches Up for New Record as Stocks Mostly Hold Steady

Bank of America led a rally in big-bank stocks in mostly quiet trading on Monday. Stock indexes ended little changed, though the S&P 500 rose 3 points and set another record.

Voila! Bankrupt Cities Are Solvent Again! (Or Not)

Last month, Harrisburg, Pa., tried to throw in the financial towel and declare Chapter 9, but a judge threw out the bankruptcy petition. That doesn't mean the city is magically healthy again, though, and it's not the only municipality in similar straits. Here's why it matters to the rest of the country.