Econoday launched in 1990 when a trading floor economist, an institutional salesperson and a desktop publishing expert decided to teach investors how economic events move markets and influence trading decisions. This is Cynthia Parker’s story:
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, a name devised by Dwight Moberg, Cynthia’s father.
Recognizing that most traders only follow the most cursory information related to economic events, they developed a suite of digital and print tools that combine data with economic analysis to empower investors to connect the dots between economic activity and the movement of the specific stocks or market sectors they’re most interested in.