Portfolio

Civil rights icon Rosa Parks passed away in Detroit at the age of 92 back in 2005. Almost six years later, her legacy is still tied up in a lengthy court battle. The case features allegations of abuse, cronyism and corruption by the probate judge as well as the two lawyers he appointed to oversee the estate and trust.

As the deadline for raising the U.S. debt ceiling nears, anxious investors are wondering whether they should be worried about a market crash and, if so, how they can protect their portfolios. IndexIQ thinks it has an answer -- one that gives investors downside protection, but also allows them to benefit if things go the other way and Washington strikes a deal by the Aug. 2 deadline.

With about 25% of U.S. company results posted for the second quarter, most have exceeded estimates and have improved sales. Industrial production and consumption are also rebounding, leading BlackRock's Bob Doll to project stronger economic growth in the second half of 2011.

The Conference Board Consumer Confidence Index improved slightly in July, rising 1.9 points from the previous month to 59.5 (1985=100). As well, the Expectations Index ticked up 3.8 points to 75.4. However, the Present Situation Index decreased by 0.9 points to 35.7.

The State Street Investor Confidence Index for July inched up 2.2 points to 101.1, State Street Global Markets reported Tuesday. However, in North America, the index fell 1.3 points to 99.2.

Advisers are more confident than they have been since January, but they are still concerned over the disconnect in the marketplace, according to The Advisor Confidence Index (ACI), a benchmark that gauges advisor views on the U.S. economy and stock market.

Vanguard Group is extending its Admiral low-cost shares to six additional domestic equity index funds, effective September. The new fees will range from 10 basis points to 21 basis points.

Nationwide Funds Group has launched the Nationwide Alternatives Allocation Fund, a passively managed mutual fund that will invest in seven alternative asset classes: global real estate, emerging market debt, emerging market stocks, commodities, TIPS, international bonds and high-yield bonds.

The Financial Industry Regulatory Authority (FINRA) has a message for investors considering lesser-understood investments as an alternative to traditional fixed-income and equity investments: caveat emptor.