Prior to the opening bell on Wednesday, futures were indicated heading back into positive territory. On Tuesday, the Nasdaq gained 2 points. but the Dow and S&P 500 ended the day lower.
The Securities and Exchange Commission could lose some of its authority under a regulatory reorganization being drafted by the Obama administration, according to Bloomberg.com.
It is expected that under the reorganization, some of the SEC's powers would shift to the Federal Reserve. One possibility is that the Federal Reserve might assume oversight of firms considered "too big to fail."
SEC Chairman Mary Schapiro is reportedly frustrated that her agency has been offered little input into this process and will fight against any weakening of SEC.
Next week Microsoft Corp will likely unveil its new search engine to the public, reports The Wall Street Journal online.
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