Wall Street Roundup: European probe. Berkshire vs. Buckingham.

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Gold: Trading now at $1,538 per ounce, up 0.4% from Thursday. Dow Jones industrial average: Trading now at 12,785.10, up 0.2% from Thursday.

European probe. Sixteen large investment banks are the target of an antitrust investigation by the European Commission, looking at whether the banks colluded in their sales of the derivatives known as credit default swaps.

Fundamental disagreements. While the weakness of the dollar and the potential for inflation is drawing more people to ask questions about the health of the American economy and the recent rise in the stock market, corporate CEOs have generally been optimistic in recent earnings calls.

Berkshire vs. Buckingham. A cheeky comparison of the hubbub over Saturday’s Berkshire Hathaway meeting -- at which Warren Buffett faces the public -- versus that over Friday’s royal wedding -- at which Prince William faced his new wife.

Courtroom kaffeeklatsch. As the jury’s deliberations in the Raj Rajaratnam case have gone on, the courtroom has turned into a site of high-powered kibitzing and gossip.

-- Nathaniel Popper in New York