Cynthia’s Story: “Econoday Makes it Fun.”
Cynthia Parker once said, “When I was an economics major, it was so boring. Econoday makes it fun.”
The rich history of Econoday trails back to October 1990. Cynthia Parker, working at Bank of America, noticed that there was an abundance of raw information, but that it lacked any form of structure or organization.
She explained, “I had six broker screens in front of me with all the economic info you can possibly imagine. But in an environment when every second is important, I couldn’t access all this information as quickly as I would have liked. You need to find the right screen or get the right paper from the economist to look the indicator up. But with Econoday, you can open it up and see it right in front of you.”
At the time, the investment industry was rapidly evolving. On a trading floor, each moment is crucial; obtaining accurate and reliable data quickly is integral to lucrative investment decisions. With only $7,500 of their own money, Parker and two friends—a desktop publishing expert and a trading floor economist—created Econoday.
This company not only records every major economic release and explains how it moves the market, but it can also show you what lies ahead on an exact date—even a couple of months into the future.
Econoday can help a cash manager decide when to invest money to meet a payroll date, and it enhances an investor’s decisions by providing the most important economic data. Econoday can help a financial advisor communicate market changes to their clients by easily referring back to an event announcement with the specific date and time. Its benefits do not stop within the finance industry; Econoday can even make a class more interactive by demonstrating how an economic event affects the market. In other words, Econoday has everything.
With the unfortunate passing of Econoday’s founder, Cynthia Parker, the family-run business is hoping to continue her legacy by doing what it does best: serving its enriched economic data to large financial institutions and the investment community.