Supreme Court unveils new ethics code for justices
The U.S. Supreme Court is adopting a code of ethics for its justices for the first time ever.
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Monday, November 13.
Full Video Transcript Below:
J.D. DURKIN: I'm J.D. Durkin, reporting from the New York Stock Exchange. Stocks were mixed to close out today's session. The Dow closed up just over 50 points, the Nasdaq closed down fractionally, and the S&P also closed fractionally lower. This comes after stocks shrugged off concerns over the state of the U.S. economy after Moody’s Investor Service downgraded the U.S. credit rating to negative.
Wall Street is looking ahead to October inflation data out Tuesday. This figure will help give investors a clearer picture of the Federal Reserve’s next move on interest rates.
In other news, the Supreme Court of the United States has adopted what it is calling a Code of Conduct for Justices. The new 14-page policy includes five different canons, or pillars, of the new rules. The justices released a statement saying, "The undersigned justices are promulgating this Code of Conduct to set out succinctly and gather in one place the ethics rules and principles that guide the conduct of the members of the Court."
It has been reported that some justices, most notably Clarence Thomas and Samuel Alito, have received luxury gifts and trips without reporting them on financial disclosures. While the new Code of Conduct officially puts pen to paper, the justices seemed to downplay its significance, saying that it "largely represents a codification of principles that we have long regarded as governing our conduct."
That'll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
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