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Stocks ended higher Wednesday as a surge in the final minutes of trading pushed all three indexes in positive territory.
President Obama has spent much of his first 65 days in the White House all but inciting a riot on Main Street by torching its abundant anger at Wall Street.
The pace of economic deterioration has started to slowdown in some areas, said Treasury Secretary Timothy Geithner on Wednesday.
There are a lot of mixed signals in the markets today. Stocks have sold off midday on some disappointing over the 5-year auction, and comments from Moody’s on Wells Fargo.
U.S. Treasury Secretary Timothy Geithner on Wednesday said he will soon outline proposals for new, tougher requirements on major financial firms to protect the financial system and new rules to prevent financial fraud and abuse against consumers and investors.
So traders were again buzzing this morning over word that Ken Lewis, in an interview with the LA Times, said he wanted to repay the $45 billion Bank of America got in TARP money beginning next month.
The complex plan to deal with toxic assets may have answered Wall Street’s questions about shoring up balance sheets but it's raising concerns about funding and oversight.
Legislation giving the US new powers to seize troubled financial firms is unlikely to be introduced before Congress’s Easter recess, a source told CNBC.com.
You can't blame the Chinese for being mad. But the latest salvo from the Chinese concerning the dollar is a very weak attempt on their part to hit back.
Stocks advanced Wednesday after a pair of better-than-expected economic numbers. New-home slaes rose more than expected and durable-goods orders unexpectedly rose, snapping a six-month slide.
Once again, a nugget of economic news came in better than expected: February durable goods came in up 3.4 percent, stronger than the decline of 2.5 percent expected. It was the first reading that wasn't negative since September, although January numbers were revised downward.
Futures advanced Wednesday after an unexpected rise in durable-goods orders snapped a six-month slide.
President Obama will talk about the economic stimulus plan in tonight's primetime news conference, but the very networks he's using to reach the American public are getting the opposite of a stimulus.
Today's action is perhaps not surprising. It was encouraging for most of the day because even though stocks were weak at the outset, there was no concerted selling effort, despite yesterday's huge rally.
Stocks came off their lows as the House hearings with Geithner and Bernanke began about 10:30 ET, and improved throughout the morning.
President Barack Obama said Tuesday he hopes "it doesn't take too long to convince Congress" to approve new authority to oversee big, tottering financial firms.
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/fratto_t_100_2.jpg1100100010lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalse We've spent the better part of this financial crisis going Joan Crawford on our financial institutions. We've locked them in closets, taken away their dessert, and issued verbal spankings, writes Tony Fratto.
The S&P 500 rose 6.6% yesterday in reaction to the details of Treasury's plan, called the Public-Private Investment Program (PPIP), to help banks rid their balance sheets of problem assets.
President Barack Obama urged fellow G20 leaders on Tuesday to agree immediate action to boost the global economy at a London summit next month.
Not a big surprise we are seeing modest profit-taking this morning. Big European banks are down mid single-digits.