Venezuela's Chavez Bans Private Brokerages From Trading Currency

Venezuela%u2019s President Hugo Chavez signed a law Tuesday that bans private brokerages from trading the country%u2019s bolivar currency or public sector dollar-denominated debt. The bill, which had been approved by parliament and only required the president%u2019s signature, restricts brokerages to trading local stocks and securities issued by the private sector, Reuters reported.

Earnings Preview: BofA, Wells and Morgan Stanley

Bank of America and Well Fargo are expected to post losses while Morgan Stanley is seen reporting a profit on Wednesday. Less certain is what the newly minted CEOs at BofA and Morgan Stanley are going to tell investors about vision and strategy.